Better for You Snacks Market is anticipated to increase at a 3.3% compound annual growth rate (CAGR) from 2023 to 2033, reaching a 2023 valuation of US$ 38,372.3 million. By the end of 2033, the market is projected to be valued US$ 53,183.7 million. With consumers’ lifestyles changing quickly and having more disposable income, the market for healthier snacks is predicted to rise consistently and account for 20% of the global snack market by 2023.
Better-for-you snacking is becoming more and more popular as customers search for healthy alternatives to traditional munchies due to health concerns. These snacks focus on natural ingredients, minimal sugar content, and functional benefits to satisfy a range of dietary requirements. The market is expanding due to rising awareness of wellbeing and growing demand for guilt-free enjoyment.
Better for You Snacks Market Outlook:
Snacks that are healthier are predicted to have a US$ 38,372.3 million global market in 2023 and increase at a 3.3% compound annual growth rate (CAGR) through 2033. This is a result of customers becoming more cognizant of their health and the advantages of adopting a healthier diet. This is being compounded by growing concerns about obesity and chronic heart diseases.
All of these factors are contributing to the market’s emergence of new, healthier snack options, such as those that are gluten-free, high in protein, low in calories, and low in sugar. FMI has reason to assume that this finally satisfies modern clientele, who are known to have a wide range of dietary options and health-related constraints.
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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 (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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