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Industry News, Food, Flavor & Fragrance Industry

Better-for-You Snacks Market Value

Better-for-You Snacks Market Value

According to research from Future Market Insights, the global better-for-you snacks market is expected to reach $37 billion by 2022, growing at a CAGR of 6.5% during 2022-2032. The market is anticipated to reach $70 billion by the end of 2032.

Related: Better-For-You Treats

The report cites that the better-for-you snacks market is likely to account for 20% of the total snack market globally in 2022 and is expected to grow steadily due to rapid changes in consumer lifestyle and increasing disposable income.

Highlights of the report include:

  • Consumers are gradually shifting towards healthy snacking habits in order to maintain good health. As a result, manufacturers are focusing on introducing various food products that are rich in essential nutrients.
  • Increasing demand for packaged better-for-you candy made from a blend of fruits and pectin that can satisfy hunger and do not contain extra sugar, is projected to aid growth. Salted popcorn is highly preferred by health enthusiasts as it contains high fiber and low calories, in addition to favorable flavors.
  • Rising demand for unique snack flavors is expected to drive the market. Consumers are consistently looking for healthier alternatives to conventional chips, pretzels and puffs. Emergence of alternative better-for-you snacks in a wide variety of flavors is thus anticipated to augment the market.
  • Protein and cheese-based snacks are also gaining immense popularity worldwide. Consumers are searching for new options that have the same flavor, texture and nostalgia as snack staples like chips and crackers. Brands are expected to continue to upgrade their classic flavors with superior seasonings and natural ingredients to deliver the same taste in a cleaner format.
  • Demand for low-fat, low-sugar snacks has skyrocketed in the U.K. Consumers are purchasing small-sized packs to control the food portions that they would be consuming. Key players are also investing in developing new snacks that would have a high nutritional profile, but would still maintain the texture and flavor similar to that of conventional snacks.
  • Bakery snacks account for nearly 40% of the global better-for-you snacks market share. Consumers are preferring new snacks that have organic ingredients and that would be able to fulfill the nutritional requirement of their body.
  • The online sales channel, on the other hand, is projected to gain traction in the global market with rising penetration of the internet and emergence of a large number of online shopping websites. Thus, the online sales channel segment is expected to exhibit growth at a CAGR of 6.3% during 2022 to 2032. At present, the segment accounts for about 60% of all sales of better-for-you snacks.

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