The Better for You Snacks Market is experiencing remarkable growth as health-conscious consumers increasingly seek nutritious alternatives to traditional snacks. With a focus on natural ingredients, reduced sugar, and functional benefits, these snacks cater to diverse dietary preferences. The market’s expansion is fueled by rising awareness of wellness and the demand for guilt-free indulgence.
Better for You Snacks Market Outlook:
The better for you snacks market is expected to experience strong growth in 2023, with a CAGR of 3.3% by 2033 and a global market value of US$ 38,372.3 million. This is due to the increasing health consciousness and knowledge about the benefits of eating cleaner among consumers. Rising concerns about obesity and chronic heart diseases further fuel this.
All this combined is compelling the market to surge in innovative cleaner snacks, including low-sugar, low-calorie, gluten-free, and high-protein snacks. FMI has reason to believe that this consequently caters to diverse dietary preferences and health-related restrictions commonly seen in consumers today.
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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.
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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
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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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