A recent market research analysis from Meticulous Research projects that the market for healthy snacks will grow at a 6.5% CAGR from 2022 to 2029 to reach USD152.08 billion.
The increased demand for functional/healthy meals, the rise in consumer health consciousness, and the expanding appeal of convenience foods and on-the-go snacks are all factors driving the expansion of this industry. Furthermore, this market is predicted to have a lot of room to grow as a result of emerging economies in Latin America, Asia, the Middle East, and Africa, as well as rising product sales through online channels. However, the high price of healthy snacks relative to traditional snacks limits the market’s expansion. A significant obstacle for market participants is the volatility of raw material costs.
Dietary habits have been significantly changed by changing lifestyles, societal shifts, and consumers’ growing sophistication & awareness. A rise in the number of people who eat nutritious snacks throughout the day in recent years has created enormous opportunities for producers of such foods. Healthy snacks are devoid of harmful ingredients and have many positive health effects. Healthy snacks have little sodium and little added sugar. Government agencies like Health Canada advise individuals to avoid junk food that is high in calories and low in nutrients and instead make an effort to eat nutritious snacks like cereal and granola bars, dried fruits, nuts, and seeds.
Over the past few decades, there has been a significant increase in consumer demand for convenience foods. Due to their rapid nature and lack of preparation and handling time, convenience food goods including biscuits and cookies, meat snacks, and beverages tend to be more popular with consumers. Today’s consumers are demanding more dinnertime options than ever before since their habits for eating meals are significantly changing. More people are turning to ready-to-eat food products as a result of the rising number of people who lack the time and knowledge to cook food at home. The convenience movement is also a dietary mainstay in China and the US, not just a passing fad. Increased urbanization will probably aid the convenience movement’s growth.
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