Protein Snacks Market Size, Share, Analysis, Trends and Strategies 2024-2032 | Mondelez International, Inc. (U.S.), Quest Nutrition LLC (U.S.), Kellanova (U.S.)

The global protein snacks market was valued at USD 46.49 billion in 2023 and is projected to grow from USD 50.48 billion in 2024 to USD 100.56 billion by 2032, reflecting a CAGR of 9% during the forecast period. In 2023, Asia Pacific led the market with a 43.17% share. Key industry players are heavily investing in R&D and utilizing novel ingredients to develop innovative, nutritious snacks, helping them differentiate their products and maintain a competitive edge.

Protein snacks are high-protein food products typically consumed between meals to meet daily protein needs. These snacks come in various forms, such as bars, shakes, jerky, nuts, seeds, and yogurt. They are favored for their ability to curb hunger, support muscle maintenance, and boost energy, making them popular among athletes, health-conscious consumers, and individuals looking to increase protein intake.

Fortune Business InsightsTM has presented this information in its report titled, "Protein Snacks Market, 2024-2032".

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➤ Key Market Players
• Mondelez International, Inc. (U.S.)
• Quest Nutrition LLC (U.S.)
• Kellanova (U.S.)
• General Mills, Inc. (U.S.)
• GNC Holdings, LLC (U.S.)
• Hormel Foods (U.S.)
• Jack Link's (U.S.)
• Meat Snacks USA (U.S.)
• Mars, Inc. (U.S.)
• Kerry Foods (Ireland)

➤ Segmentation:
Growing Demand for Protein Bars Due to Convenience and Health Benefits
By type, the market is divided into protein bars, meat snacks, cookies, and others. In 2023, the protein bars segment held the largest share due to increasing demand from young fitness enthusiasts seeking convenient, nutritious snacks.

Animal-Based Snacks Dominate Due to High Protein Content
By source, the market is segmented into animal-based and plant-based snacks. The animal-based segment led the market in 2023, as animal-derived proteins are widely recognized for their high protein content.

Supermarkets/Hypermarkets Lead Due to Wide Product Availability
By distribution channel, the market is categorized into supermarkets/hypermarkets, convenience stores, e-commerce, and others. The supermarkets/hypermarkets segment dominated in 2023, as these stores provide customers with access to a broad selection of well-known protein snack brands.
The market is analyzed across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

➤ Report Coverage:
The report provides an in-depth analysis of key aspects, including leading product types, sources, distribution channels, and major market players. It also examines industry trends and significant developments, offering insights into the factors driving market expansion.

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➤ Drivers and Restraints:
Rising Health Awareness to Drive Market Growth
Consumers worldwide are becoming more conscious of their health, leading to increased demand for nutritious food options. This trend has fueled the popularity of healthy snacking, prompting manufacturers to use high-quality ingredients that enhance nutritional value. For example, Quest Nutrition introduced a protein bar designed to satisfy sweet cravings while offering health benefits, a move expected to boost market growth.
However, strict regulatory requirements for promoting protein snacks across different regions may pose challenges for market players.

➤ Regional Insights:
Asia Pacific Leads Due to Rising Health Awareness
Asia Pacific dominated the global market in 2023 as consumers in the region are increasingly focused on healthier lifestyle choices. Growing awareness about the benefits of protein snacks is expected to accelerate product sales in this region.
Europe Witnessing Notable Growth
Europe is also experiencing significant market expansion, as the region's fitness-conscious population continues to seek products that support overall health and wellness.

➤ Competitive Landscape:
Strategic Partnerships and Collaborations to Boost Market Presence
Leading manufacturers in the global protein snacks market are forming strategic partnerships and collaborations to develop innovative snacking products like protein bars and chips. These products not only satisfy cravings but also help consumers meet their daily nutritional requirements.

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➤ Notable Industry Development:
August 2024 - Angel Yeast, a well-known brand in China's retail snacking industry, partnered with ffit8, a health food brand, to launch two new products: the nougat protein bar and the protein nougat snack. These products were introduced in Shanghai, China.

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This release was published on openPR.