The global
healthy snacks market size is anticipated to rise remarkably on account of the increasing health consciousness among consumers and the rising prevalence of quality lifestyle . These Snacks are a quick and affordable way of sufficing to the nutritional needs of the body . As per a recently published report by Fortune Business Insights , titled , “ Healthy Snacks Market Size , Share & COVID-19 Impact Analysis , By Type ( Meat Snacks , Nut , Seeds & Trail Mixes , Dried Fruit Snacks , Cereal & Granola Bars , and Others ), By Distribution Channel ( Supermarket / Hypermarket , Specialty Stores , Convenience Stores , and Online Retails ), and Regional Forecast , 2020-2027 ,” the value of this market is expected to rise from USD 78.13 billion earned in 2019 to USD 108.11 billion by the end of 2027 . The market is likely to exhibit a CAGR of 4.2 % during the forecast period set between 2020 and 2027 .
The world economy is facing a major downfall owing to the current coronavirus pandemic . Most businesses are at temporary halt and the others who are operating in the four walls of their homes are barely able to manage meagre revenue . The healthcare sector is facing major crisis owing to the increasing number of positive coronavirus cases and lack of beds and medical aid to offer treatment . The governments of various nations are investing massively on the research and development of an antidote to fight back the covid-19 pandemic and we soon hope to overcome this situation .
Fortune Business Insights is offering special analytical reports on different markets that are impacted negatively by the coronavirus pandemic . These reports will help advisors make strategic decisions for better revenue generation in the coming years .
Drivers & Restraints-
Rising Inclination towards Healthy Food to Add Impetus
The increasing prevalence of chronic and acute diseases among people irrespective of age is a key factor propelling the adoption of healthy food . This stands as a major factor boosting the global healthy snacks market growth . In addition to this , the rising evolution of the food industry and the advent of various food and snacks varieties such as flavors , shapes , sizes , and nutritional value is also adding impetus to the market . Besides this , the advancement in food processing and preservation technology will also aid in the expansion of the market .
However , factors such as processing-related challenges , moisture retention as a result of sugar and fat reduction , and low shelf life of snacks highly rich in fruit and vegetable content may pose major challenges to the market growth . Nevertheless , the growing popularity of functional and convenience foods and the increasing adoption of on-the-go and ready-to-eat snacking , coupled with the increasing awareness among health conscious consumers are expected to create lucrative growth opportunities for the market in the coming years .
Segment Nut-based Snacks segment to Cover Largest Share Owing to their High Protein Content
Based on segmentation by product type , this market is holding major shares from the nut-based snacks segment . This is owing to the high protein content present in nuts , as well as other high nutrient content such as antioxidants and fibre .
Regional Analysis-
Europe Emerged Dominant Owing to Increasing Popularity of On-the-go Nutrition
Geographically , Europe covered the largest healthy snacks market share with a revenue of 31.06 billion earned in 2019 . The growth of this region is attributed to the presence of a majority of health conscious people with hectic schedules and busy lifestyles . The advent of on-the-go nutrition and functional food products has propelled the need for healthy snacks , thereby augmenting the regional market .
On the other side , the market in Asia Pacific is likely to showcase the fastest growth in the coming years on account of the rising disposable incomes of people , increasing adoption of healthy lifestyle , and the growing popularity of food products that promote wellbeing , known as ‘ better-for-you ’ products .
Competitive Landscape-