Better for You Snacks Market is expected to grow at a compound annual growth rate (CAGR) of 3.3% between 2023 and 2033, arriving at a valuation of US$ 38,372.3 million by 2023. The market is expected to be worth US$ 53,183.7 million by the end of 2033. Owing to the rapid shifts in consumer lifestyles and increased disposable money, the market for healthier snacks is expected to grow steadily and represent 20% of the global snack market by 2023.
The market for better-for-you snacks is expanding at an impressive rate as consumers who are concerned about their health look for wholesome substitutes for conventional munchies. These snacks accommodate a variety of dietary requirements by emphasising natural ingredients, low sugar content, and functional benefits. Growing demand for guilt-free enjoyment and increased awareness of wellbeing are driving the market’s growth.
Better for You Snacks Market Outlook:
Better-for-you snacks are expected to have a global market worth US$ 38,372.3 million in 2023 and grow at a CAGR of 3.3% through 2033. This is a result of consumers’ rising health consciousness and growing awareness of the benefits of a healthier diet. Growing worries about obesity and chronic heart conditions are adding to this.
Together, these reasons are causing an explosion of new, healthier snack options on the market, including those that are high in protein, low in sugar, low in calories, and gluten free. Given the vast range of dietary choices and health-related restrictions that contemporary clients are known to have, FMI has reason to believe that this ultimately satisfies them.
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Key Takeaways from the Market:
- The United States market showed an astonishingly high CAGR of 20.7% through 2033. This could be due to the rising awareness of obesity within the consumer group.
- FMI calculated that the market in Germany rose at a CAGR of 6.4% in 2022.
- The Japanese market rose at a comparatively lower CAGR of 2.3% in 2022.
- In 2022, the better for you snacks market in Australia expanded at a CAGR of 2.4%.
- The market in China progressed at a CAGR of 6.5% during 2022.
- Indian better for you snacks market swelled at a steady CAGR of 7.0% during 2022.
- During 2022, the market in the United Kingdom augmented by a CAGR of 6.6%.
Competitive Landscape:
The key companies in the better for you snack market are focusing mainly on launching new healthier snack options in order to be on par with its exorbitant consumer demand. The companies are also bringing attractive packaging and extended shelf life to their attention while simultaneously striving to source from sustainable and environment-friendly resources. Many companies are coming up with ways to rebrand and present themselves in unique and appealing ways. These products can improve the consumer’s health and are convenient, flavorful, and enjoyable to eat.
Companies are also targeting a certain product price range so that consumers from all income groups can afford to buy them. Leading brands in this competition are:
- Unilever
Unilever has started an initiative called Positive Nutrition, which involved reformulating their products to have less salt, sugar, and overall calories. They are also aiming for 70% of their portfolio to meet WHO-aligned nutritional standards.
They are also aiming to provide plant-based meat and dairy alternatives while tackling the issues of food loss and waste.
- The Kellogg Company
Kellogg’s is adding fuel to the single-serve snacks category by enhancing its recipes and bettering its existing range of Better For You Snacks. The Better for You range, including Special K, Special K Protein, Nutri-Grain, Cereal and Milk Bars, and Nuts and More bars, supports retailers in meeting the needs of shoppers looking for more nutritious on-the-go products than a simple chocolate bar or other kinds of confectionery snacks.
Nutri-Grain is also relaunching as a wholesome snack to grab on the go, seeing its filling condensed from 17 ingredients down to seven, and a rebrand on packaging to showcase its improved flavor.
- Danone
Danone has been partnering with entrepreneurs who are also aiming for a healthy and sustainable future for food. They are enhancing their business model, creating mobile apps for their products, and making flavorful, healthy food more accessible.
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Better for You Snacks Market Outlook by Category
By Type:
- Bakery Snacks
- Candy
- Confectionery
- Sweet Frozen Treats
- Fruit Snacks
- Savory Snacks
By Sales Channel:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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