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Market – Overview:
Snacks were limited to biscuits, confectionery, crisps and soft drinks however consumers’ wanting to opt to healthy, all-natural snacking options is redefining the snacks industry. Consumers across the globe are paying more attention than ever to their wellbeing and the role that good nutrition plays in staying healthy. Healthy Snack items in fact emerged as the biggest growth segment within natural food and beverage. And the variety and innovation in this category was impressive. There a movement worldwide towards healthier snacks such as yoghurt, milk drinks, energy bars and nuts, as a growing segment of the non-snack food market is rebranding itself as Healthy snack replacements.
The most successful Healthy Snacks brands today are well-attuned to consumer diet and lifestyle trends, nimble enough to bring their products to market quickly, confident enough to pitch them to the big retail players, and capable of creating a groundswell of support for the brand – both online and locally via creative, grassroots sampling programs. These are most frequently passive in nature, such as low-calorie, natural, whole grain, etc., but also include more active and functional claims on occasion, such as added-calcium and vitamin- and mineral-fortified, as well as offering specific health benefits, such as heart health or digestive health. Between 2011 and 2015, the healthy snack market achieved significant growth rate. The growth skyrocketed in the past two years in particular, fueled by double-digit growth in the Fat Free categories in 2014 and growth in natural snacks and snack bar sales in 2015. Packaged Facts projects the healthy snack’s sales will continue to grow, achieving a remarkable CAGR in the next four years and reaching sales of astronomical amounts by 2022.
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A large number of populace turning out to be health conscious, the increasing inclination towards health awareness, rising popularity of sports and growing concerns over obesity and related problems are expected to propel the demand of this market. Moreover, expansion in the revolutionary products’ portfolio along with rising intake of healthy diets will further provide impetus to the market growth in the recent future. Longer working time, single-parent families and rising number of women professionals have created preference of healthy snacking over the traditional meal. Consumers’ growing willingness to experience the excellent taste and convenience snack is having a positive impact on product development area.
The Healthy Snack market is posing as highly competitive with the presence of players with multiple positioning products. Manufacturers are focusing on product innovation in processing technologies and a variety of ingredients to increase market penetration. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
Some of the key players profiled in healthy snack market are Mountain house, snack naturally, jummybo, the good grocer, custom varietea, plenty 4 you, food hot issue, bare fruit, Quakers, Sincerely Nuts, and Harmony House Foods.
Market – Synopsis
Additionally, snacks often play an emotional role, offering comfort during a boring or stressful day on the road or at the office. Growing demand for snacks as a solitary activity due to its portable and single serve is anticipated to fuel market demand in the upcoming years.
Secondary data reveals that the healthy snack sales is projected to grow more than 5% annually post the year 2022
The top 5 exporters of healthy snack includes U.S., Netherlands, Germany, Thailand and China
Consumer’s preference towards innovation of new flavors, Protein, and bite-sized snacks, are in high demand.
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Europe is a major market and is expected to grow substantially over the anticipated period owing to the growing demand for healthy & nutritious snacking, rising technological strength and availability of major vendors in the region. Asia Pacific is a fastest growing market and is projected to grow at the highest CAGR due to the booming retail sector, rising penetration of foreign brands, growing trends for gifting snack food, creative marketing strategies and efficient supply chain in the region.
The post Healthy Snack Market is expected to Generate Huge Profits: Vendors- Mountain house, snack naturally, jummybo, the good grocer, custom varietea by Market Research Future appeared first on Herald Keeper.