Press release
Global Better-For-You Snacks Market to Expand At A CAGR Of 6.7% to Reach US$ 54.3 Bn By 2032
According to Fact.MR, a market research and competitive intelligence provider, the global better-for-you snacks market is estimated at US$ 28.5 billion in 2022 and is expected to expand at an impressive CAGR of 6.7% during the forecast years of 2022-2032. Remarkable health benefits provided by better-for-you snacks is the main reason for rapid market expansion.The COVID pandemic accelerated consumer health awareness and significantly impacted their eating choices. Demand for mindful snacking has fuelled the rapid adoption of better-for-you (BFY) snacks. BFY snacks have gained immense popularity among consumers looking to avoid or minimise the severity of diseases. Customers prefer better-for-you snacks with label claims that are regarded to be healthier to promote health, and ideally stave off any illness. All these factors are coherently establishing a strong foundation for the better-for-you snacks market across the world.
๐๐จ๐ฐ๐ง๐ฅ๐จ๐๐ ๐ ๐ซ๐๐ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ฉ๐ฒ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.factmr.com/connectus/sample?flag=S&rep_id=7592
Due to government initiatives, the better-for-you snacks market will be quite prominent across some few European nations, especially in the United Kingdom. The U.K. government has passed legislation that restricts the placement and in-store advertising of some HFSS (high in fat, salt, and sugar) products. Originally scheduled to take effect in October 2022, the legislation has been delayed due to the current economic climate and will now take effect in January 2024, paving the way for new opportunities for BFY snack manufacturers.
Which Factor Might Restrain Market Expansion to Some Extent?
Growing consumer interest towards healthier options is a major factor for the boost of the better-for-you snacks market; however, there are market-wide challenges such as competition from the traditional snacks market.
The ever-growing non-better-for-you snack options such as chips, salty snacks, dips, etc., could be a great barrier to the acceptance of better-for-you snacks among people. Healthy snack options such as fresh fruits and vegetables can also create fierce competition for better-for-you snack producers.
Additionally, the high cost related to better-for-you snacks as compared to traditional and healthy snacks could hinder the demand growth for better-for-you snacks.
Lack of awareness and limited access to better-for-you snacks across the world could be another key factor denting the growth of the better-for-you snacks market to some extent.
Key Takeaways from Better-for-you Snacks Market Study
โข The global better-for-you snacks market is projected to expand at an impressive CAGR of 6.7% and reach US$ 54.3 billion by 2032.
โข The market registered 4.2% CAGR between 2017 and 2021.
โข Under product type, the cereals, flakes & seeds segment dominates the market and is valued at US$ 8.3 billion in 2022.
โข Europe dominated the global market with 29.7% market share in 2021.
โข Based on region, demand for better-for-you snacks is expected to increase at CAGRs of 4.8% and 9.7%, respectively, in North America and South Asia & ASEAN.
๐๐๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐จ๐ซ ๐๐ฉ๐๐๐ข๐๐ข๐ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ: https://www.factmr.com/connectus/sample?flag=RC&rep_id=7592
Key Segments Covered in the Better-for-you Snacks Industry Survey
โข By Product Type :
โข Baked Snacks
โข Popped Snacks
โข Snacks Bars
โข Trail Mix
โข Cookies
โข Cereals, Flakes & Seeds
โข Others (Yoghurt, Ice Cream)
โข By Primary Ingredient :
โข Oats
โข Potatoes
โข Vegetables (excluding Potatoes)
โข Rice
โข Corn
โข Lentils
โข Dairy Alternative
โข Others
โข By Sales Channel :
o Online
โข Brand Websites
โข e-Commerce Platforms
o Offline
โข Supermarkets/Hypermarkets
โข Convenience Stores
โข Specialty Stores
โข By Region :
โข North America
โข Latin America
โข Europe
โข East Asia
โข South Asia & ASEAN
โข Oceania
โข MEA
๐ ๐ฎ๐ฅ๐ฅ ๐๐๐๐๐ฌ๐ฌ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐๐ฑ๐๐ฅ๐ฎ๐ฌ๐ข๐ฏ๐ ๐๐๐ฉ๐จ๐ซ๐ญ ๐ข๐ฌ ๐๐ฏ๐๐ข๐ฅ๐๐๐ฅ๐ ๐๐ญ: https://www.factmr.com/checkout/7592
Competitive Landscape
While protein-rich foods and health consciousness are currently at the top of the minds of consumers, there are several opportunities for manufacturers as customers seek clean label snacks. To achieve a number of dietary objectives, such as reducing calories or gluten intake or enhancing nutrition, consumers are searching for unusual ingredients that can provide both, nutrition and flavour.
Aligning with this behaviour, well-known producers are using health indicators such as plant-based, no allergens, lactose-free, etc., to obtain a firm foothold in the market. These types of claims are adding the good impact on customers and significantly expanding the better-for-you market.
Key players in the Better-for-you Snacks Market
โข Mondelez International, Inc.
โข Kellogg's Company
โข Nestlรฉ
โข B&G foods
โข Warrell Creations
โข PepsiCo's Frito-Lay
โข Trufood
โข Velocity Snack Brands
โข Left Field Foods
โข Boulder Canyon
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