Healthy Snack Market size is set to grow by USD 28.46 billion from 2022 to 2027; the rise in disposable income and change in lifestyle drive the market growth - Technavio

NEW YORK, June 29, 2023 /PRNewswire/ -- The healthy snack market size is set to grow by USD 28.46 billion from 2022 to 2027, and register a CAGR of  5.67%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Read our Sample Report

The report also covers the following areas:

• Healthy Snack Market size
• Healthy Snack Market trends
• Healthy Snack Market industry analysis

Factors such as rise in disposable income and changes in lifestyle, evolving taste preferences, and growing inclination towards healthy snacks will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. The healthy snack market is fragmented, and the degree of fragmentation will accelerate during the forecast period.

Healthy Snack Market 2023-2027: Segmentation

The healthy snack market is segmented as follows:

• Product 
• Savory
• Bakery
• Fruit
• Dairy
• Others
• Distribution Channel 
• Supermarkets And Hypermarkets
• Convenience Stores
• Online
• Geography 
• North America
• Europe
• APAC
• South America
• Middle East And Africa

The market share growth by the savory segment will be significant for market growth during the forecast period. Factors such as increased consumer demand for healthy snacks, the rising popularity of instant meals and to-go snacks, changing lifestyles, and the busy schedules of workers have increased the acceptance of savory snacks. Moreover, the demand for savory snacks is increasing, primarily due to increased consumer demand for protein-rich foods. Hence, such factors boost the segment growth during the forecast period.

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Healthy Snack Market 2023-2027: Vendor Analysis and Scope

Some of the major vendors of the healthy snack market include B and G Foods Inc., Calbee Inc., Campbell Soup Co., Danone SA, Del Monte Foods Inc., DFM Foods Ltd., Dole Packaged Foods LLC, General Mills Inc., Hormel Foods Corp., Kellogg Co., LT Foods Ltd., Mondelez International Inc., Monsoon Harvest, Nestle SA, PepsiCo Inc., Select Harvests Ltd., Sun Maid Growers of California, The Hain Celestial Group Inc., Tyson Foods Inc., and Warrell Corp. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market.
Vendor Offerings

• B and G Foods Inc. - The company offers healthy snacks through its subsidiary Back to Nature such as cookies, crackers, nuts and trail mixes, and granola.
• Calbee Inc. - The company offers healthy snacks with high nutritional value, for example, cereal, pumpkin vegetable snacks with olive oil, low-sodium potato chips, roasted corn snack, and prawn crackers.
• Danone SA - The company offers healthy snacks and fresh salads through its subsidiary Farmers Fridge.

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Healthy Snack Market 2023-2027: Market Dynamics

Key Drivers

The rise in disposable income and change in lifestyle drive the growth of the healthy snack market during the forecast period. According to the data stated by the US Bureau of Economic Analysis (BEA), disposable personal income (DPI) increased by USD 89.7 billion (0.5%) in March 2022 in the US from April 2022.

Similarly, according to the Organization for Economic Co-operation and Development (OECD), household disposable income has increased in all developed and developing countries since 2021. Furthermore, factors such as the increase in dual household income, per capita income, and rapid growth in the employment rate have driven the increase in disposable income worldwide. Hence, such factors drive the market growth during the forecast period.

Significant Trends

The growth of online retailing is an emerging market trend fueling healthy snack market growth. The increasing internet access fuels the global expansion of e-commerce companies such as Alibaba, Amazon, and Flipkart. For instance, according to the U.S. Department of Commerce, e-commerce's share of total U.S. retail sales in 2020 increased from about 15% in 2019 to more than 20%.

Additionally, the ease of shopping, easy product search, attractive prices, and personalized product offerings have increased the global demand for online shopping. Hence, such trends fuel the market growth during the forecast period.

Major Challenges

Price fluctuations challenge the growth of the healthy snack market during the forecast period. The raw materials became costly over the past five years due to the growing mismatch between demand and availability of raw materials. Furthermore, production and logistics challenges in exports such as wheat, corn, vegetable oils, and flavorings are fragile.

Additionally, shipping things such as wheat, corn, vegetable oils, and flavorings can spoil in extreme cold or heat, resulting in high costs. Resultantly, prices for things like wheat, corn, vegetable oils, and flavoring materials are at the intersection of supply and demand. Hence, such challenges impede market growth during the forecast period.

Healthy Snack Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist healthy snack market growth during the next five years
• Estimation of the healthy snack market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the healthy snack market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of healthy snack market vendors

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Related Reports:
The snack bars market in US size is expected to increase by USD 912.22 million from 2022 to 2026, and the market's growth momentum will accelerate at a CAGR of 2.23%. Furthermore, this report extensively covers the snack bars market in US segmentation by product (energy and nutrition bars, granola bars, breakfast bars, and other snack bars), distribution channel (offline distribution and online distribution), and geography (US). New product launches are one of the key factors driving the snack bars market in US growth. 

The savory snacks market size is estimated to grow at a CAGR of 4.91% between 2022 and 2027. The market size is forecast to increase by USD 32.17 billion. This savory snacks market report extensively covers market segmentation by type (potato chips, extruded snacks, nuts and seeds, popcorn, and others), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa). Growing demand for convenience foods is the key factor driving the growth of the global savory snacks market.

Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global healthy snack market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on global healthy snack market 2017 - 2021 ($ billion)

• 4.2 Product Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Savory - Market size and forecast 2022-2027
• Exhibit 34: Chart on Savory - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Savory - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Savory - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Savory - Year-over-year growth 2022-2027 (%)

• 6.4 Bakery - Market size and forecast 2022-2027
• Exhibit 38: Chart on Bakery - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Bakery - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Bakery - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Bakery - Year-over-year growth 2022-2027 (%)

• 6.5 Fruit - Market size and forecast 2022-2027
• Exhibit 42: Chart on Fruit - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Fruit - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Fruit - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Fruit - Year-over-year growth 2022-2027 (%)

• 6.6 Dairy - Market size and forecast 2022-2027
• Exhibit 46: Chart on Dairy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Dairy - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Dairy - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Dairy - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027
• Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by Product 
• Exhibit 54: Market opportunity by Product ($ billion)
• Exhibit 55: Data Table on Market opportunity by Product ($ billion)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 56: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 57: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 58: Chart on Comparison by Distribution Channel
• Exhibit 59: Data Table on Comparison by Distribution Channel

• 7.3 Supermarkets and hypermarkets - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Supermarkets and hypermarkets - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Data Table on Supermarkets and hypermarkets - Market size and forecast 2022-2027 ($ billion)
• Exhibit 62: Chart on Supermarkets and hypermarkets - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Supermarkets and hypermarkets - Year-over-year growth 2022-2027 (%)

• 7.4 Convenience stores - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Convenience stores - Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Data Table on Convenience stores - Market size and forecast 2022-2027 ($ billion)
• Exhibit 66: Chart on Convenience stores - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Convenience stores - Year-over-year growth 2022-2027 (%)

• 7.5 Online - Market size and forecast 2022-2027
• Exhibit 68: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 71: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Distribution Channel
• Exhibit 72: Market opportunity by Distribution Channel ($ billion)
• Exhibit 73: Data Table on Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 74: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 75: Chart on Market share by geography 2022-2027 (%)
• Exhibit 76: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 77: Chart on Geographic comparison
• Exhibit 78: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 79: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 83: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 87: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 91: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 95: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 99: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 103: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 UK - Market size and forecast 2022-2027
• Exhibit 107: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 108: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 109: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 111: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 112: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 113: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027
• Exhibit 115: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 116: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 117: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 118: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 119: Market opportunity by geography ($ billion)
• Exhibit 120: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 121: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 122: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 123: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 124: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 125: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 126: Matrix on vendor position and classification

• 12.3 B and G Foods Inc. 
• Exhibit 127: B and G Foods Inc. - Overview
• Exhibit 128: B and G Foods Inc. - Product / Service
• Exhibit 129: B and G Foods Inc. - Key offerings

• 12.4 Calbee Inc. 
• Exhibit 130: Calbee Inc. - Overview
• Exhibit 131: Calbee Inc. - Product / Service
• Exhibit 132: Calbee Inc. - Key offerings

• 12.5 Danone SA 
• Exhibit 133: Danone SA - Overview
• Exhibit 134: Danone SA - Business segments
• Exhibit 135: Danone SA - Key news
• Exhibit 136: Danone SA - Key offerings
• Exhibit 137: Danone SA - Segment focus

• 12.6 Del Monte Foods Inc. 
• Exhibit 138: Del Monte Foods Inc. - Overview
• Exhibit 139: Del Monte Foods Inc. - Product / Service
• Exhibit 140: Del Monte Foods Inc. - Key offerings

• 12.7 Dole Packaged Foods LLC 
• Exhibit 141: Dole Packaged Foods LLC - Overview
• Exhibit 142: Dole Packaged Foods LLC - Product / Service
• Exhibit 143: Dole Packaged Foods LLC - Key offerings

• 12.8 General Mills Inc. 
• Exhibit 144: General Mills Inc. - Overview
• Exhibit 145: General Mills Inc. - Business segments
• Exhibit 146: General Mills Inc. - Key news
• Exhibit 147: General Mills Inc. - Key offerings
• Exhibit 148: General Mills Inc. - Segment focus

• 12.9 Hormel Foods Corp. 
• Exhibit 149: Hormel Foods Corp. - Overview
• Exhibit 150: Hormel Foods Corp. - Business segments
• Exhibit 151: Hormel Foods Corp. - Key news
• Exhibit 152: Hormel Foods Corp. - Key offerings
• Exhibit 153: Hormel Foods Corp. - Segment focus

• 12.10 Kellogg Co. 
• Exhibit 154: Kellogg Co. - Overview
• Exhibit 155: Kellogg Co. - Business segments
• Exhibit 156: Kellogg Co. - Key news
• Exhibit 157: Kellogg Co. - Key offerings
• Exhibit 158: Kellogg Co. - Segment focus

• 12.11 LT Foods Ltd. 
• Exhibit 159: LT Foods Ltd. - Overview
• Exhibit 160: LT Foods Ltd. - Product / Service
• Exhibit 161: LT Foods Ltd. - Key offerings

• 12.12 Mondelez International Inc. 
• Exhibit 162: Mondelez International Inc. - Overview
• Exhibit 163: Mondelez International Inc. - Business segments
• Exhibit 164: Mondelez International Inc. - Key news
• Exhibit 165: Mondelez International Inc. - Key offerings
• Exhibit 166: Mondelez International Inc. - Segment focus

• 12.13 Monsoon Harvest 
• Exhibit 167: Monsoon Harvest - Overview
• Exhibit 168: Monsoon Harvest - Product / Service
• Exhibit 169: Monsoon Harvest - Key offerings

• 12.14 PepsiCo Inc. 
• Exhibit 170: PepsiCo Inc. - Overview
• Exhibit 171: PepsiCo Inc. - Business segments
• Exhibit 172: PepsiCo Inc. - Key news
• Exhibit 173: PepsiCo Inc. - Key offerings
• Exhibit 174: PepsiCo Inc. - Segment focus

• 12.15 Select Harvests Ltd. 
• Exhibit 175: Select Harvests Ltd. - Overview
• Exhibit 176: Select Harvests Ltd. - Product / Service
• Exhibit 177: Select Harvests Ltd. - Key offerings

• 12.16 Sun Maid Growers of California 
• Exhibit 178: Sun Maid Growers of California - Overview
• Exhibit 179: Sun Maid Growers of California - Product / Service
• Exhibit 180: Sun Maid Growers of California - Key offerings

• 12.17 Tyson Foods Inc. 
• Exhibit 181: Tyson Foods Inc. - Overview
• Exhibit 182: Tyson Foods Inc. - Business segments
• Exhibit 183: Tyson Foods Inc. - Key offerings
• Exhibit 184: Tyson Foods Inc. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 185: Inclusions checklist
• Exhibit 186: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 187: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 188: Research methodology
• Exhibit 189: Validation techniques employed for market sizing
• Exhibit 190: Information sources

• 13.5 List of abbreviations 
• Exhibit 191: List of abbreviations

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