Increasing product awareness has served in favor of competition on nutritional values such as high vitamins and proteins and low calories. The growing need for on-the-go snacks combined with increased consumer investment could fuel market growth. Furthermore, in the coming years, hectic product lifestyles are expected to fuel the market.
For developed economies, healthy snacks are popular. Another factor in market growth is the growing popularity of meat snacks.
Consumers are becoming increasingly more conscious of quality products in developed economies like Europe and North America as a result of the increased purchasing capacity, and over the coming years, they are prepared to expand this demand. Increased awareness of their health benefits among European consumers, notably the United Kingdom, Germany and France, is likely to boost demand for these products in the coming years.
Market value and expected growth
The Healthy Snacks market is estimated at USD xx in 2019 and expected to reach USD xx by 2024, growing at the rate of xx% CAGR.
Health and wellness spending in developed economies such as Germany, the United Kingdom and the USA is growing as governments have different advantages in buying health and wellness services in line with fiscal relaxation. Tax benefits have led to an increase in family health and well-being spending, and in turn, have increased product sales.
Increasing consumer disposable income, due to modernization and an expansion of the workforce base, is one of the market's principal drivers of development. Families in the mid-1930s to mid-1940s have recorded increased snacking expenditures.
On the other hand, volatile prices of raw materials are projected to reduce market growth because they are dependent on agricultural commodities or because of strict regulations established by various regulators.
Nonetheless, those investments are anticipated for market recovery in order to develop creative value products and consumer marketing initiatives of major players. Customer health awareness is projected to raise demand for healthy snacks in the next few years due to awareness campaigns launched by the government, NGOs and companies.
Market research involves studying market trends, growth patterns, and understanding the influence of variables like macro and microeconomic conditions, geopolitical and demographic conditions on the market value and market dynamics.
The research methodology used to calculate and forecast the Healthy Snacks market began by collecting information on the market key player's sales using multiple sources via secondary research. In order to identify market segmentation, supplier offers have been considered.
In June 2018, a proposal that requires added sugar, including fructose, on all pure maple syrup and honey labels had been revisited by the Food and Drug Administration (FDA), which in turn encourages others in the global trade.
Healthy Snacks Market segmentation:
Meat snacks are challenging and should remain stable over the predicted horizon. In 2018, the segment accounted for around 27.0% of total sales. Fleece snacks are an excellent protein source, indispensable for the body's development.
Regulatory bodies have laid down strict regulations for the production of meat snacks in developed areas such as Europe, to ensure better protection of consumer health. Herstellers of meat snacks is therefore required to provide better quality products that are costly and can threaten segment growth over the next few years.
Many emerging economies are large buyers of meat snacks in the Asia Pacific and South America. In China, many meat snack manufacturers are present, which is a critical factor in rising meat snacks production.
The leading position in the international balanced snacks market was cereal and granola bars. The explanation is the large-scale adoption by customers because of the convenience provided by healthy snacks such as grab-and-go. In addition, the overall market is likely to be driven by factors such as instant energy and nutrition in cereal & granola bars.
Drivers and market limitations:
The Healthy Snacks market size is exponentially expanding owing to the following:
Restraints of Healthy Snacks market can be
Opportunities of Healthy Snacks market can be
In the forecast period, North America will be one of the major regional markets for healthy snacks. The demand for a product in the region is projected to grow with the changing habits of consumers like snacking between regular meals and snacking instead of meals along with the preference for healthy supplements. There is a strong demand in the area for cereal and granola bars. In 2018, it reported 35.0 per cent of the region's total market sales. The cereal bars in North America are widely consumed because of a number of available flavors and discounts and attractive packaging to attract and retain new clients.
Asia-Pacific during the forecast period is predicted to be the world's most attractive destination. The increased demand for the product in the region can be attributed to globalization and the growing need for snacks in emerging economies such as China and India. In the next few years, the change in consumer lifestyles in the developing world is also expected to boost the regional market well, owing to an increase in disposable income.
Key players in the market:
Improved investments in value-added goods grow the buyer's confidence in the market. Demographic factors like a high capacity for expenses, shift in product procurement and retail network modernization, are prepared for the coming years to give key players significant growth opportunities.
Nestlé S.A.; PepsiCo, Inc.; Kellogg Company; Tyson Foods, Inc.; General Mills, Inc.; Hormel Foods Corporation; Kind LLC; B&G Foods, Inc.; The Hain Celestial Group, Inc.; Calbee, Inc., and Select Harvests are main companies present on the sector.
Key highlights of the research report:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Dried Fruit
5.1.3 Cereal & Granola Bars
5.1.4 Nuts & Seeds
5.1.6 Trail Mix
5.1.7 Y-o-Y Growth Analysis, By Product
5.1.8 Market Attractiveness Analysis, By Product
5.1.9 Market Share Analysis, By Product
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By Product
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Product
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Nestlé S.A.
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 PepsiCo. Inc.
8.3 Kellogg Company
8.4 Tyson Foods, Inc.
8.5 General Mills, Inc.
8.7 Select Harvests
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures