The global Healthy Snacks Market size is expected to reach USD 32.88 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 5.2% during the forecast period. Increasing awareness regarding health and wellness benefits offered by the product among consumers is likely to be a key trend driving the market.
The
consumption of healthy snacks is growing on account of their ability to meet
various dietary requirements such as sugar-free, low salt content, and low
cholesterol levels. However, high cost of production due to volatile prices of
raw materials is expected to negatively influence the growth of the market over
the forecast period.
Growing
purchasing power parity, which has increased immensely in the past few years,
is anticipated to fuel the demand for meat snacks in the upcoming years. This
factor, in turn, is projected to boost the growth of the market during the
forecast period.
Europe
is the leading regional market in the healthy snacks market. A wide base of
youth population in the region along with high spending power of the populace
is stoking the growth of the regional market. Healthy snacks provide
grab-and-go option coupled with convenience to meet the needs of customers.
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Further
key findings from the report suggest:
- In terms of revenue, the
meat snacks segment is projected to expand at a CAGR of 5.4% over the
forecast period
- Cereal & granola bars
dominated the healthy snacks market with a global revenue share of over
36.0% in 2018
- Companies in Europe are
focusing on increasing sales of healthy snacks by attracting more
customers with innovative and eye-catching products
- Rising consumption of
dried fruit snacks by customers due to changing lifestyles is likely to
fuel growth over the next seven years
- Market players are
focusing on developing healthy snacks in compliance with stringent USFDA
and EU standards, especially in North America and Europe
- Emerging economies such as
India, China, Brazil, Indonesia, and Malaysia are witnessing a paradigm
shift in consumer buying behavior due to rising national income and its
benefits on disposable income of households
- Major industry players aim
to achieve optimum market growth and strengthen their presence through
various market expansion strategies such as new product development,
joint-ventures, and acquisitions
- Some of the key companies
present in the industry are Nestlé S.A.; PepsiCo, Inc.; The Kellogg
Company; Tyson Foods, Inc.; General Mills, Inc.; Mondelēz International;
Hormel Foods Corporation; Kind LLC; and Select Harvests.
About Us:
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, the company offers
market intelligence studies ensuring relevant and fact-based research across a
range of industries including technology, chemicals, materials, healthcare and
energy.
Contact:
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Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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