Better-for-you Snacks Market is Extrapolated to Reach US$ 54.3 Billion by 2032

The global better-for-you snacks market has reached a valuation of US$ 28.5 billion and is anticipated to expand at a CAGR of 6.7% to reach US$ 54.3 billion by the end of 2032. Sales of better-for-you snacks accounted for nearly US$ 27 billion at the end of 2021.

The top 5 manufacturers of better-for-you (BFY) snacks in the world account for over one-fourth market share at present. It’s of no surprise: many consumers are trying to live healthier in the past few years. The rise in obesity, which is not just a cosmetic concern, but also increases the risk of other diseases and health problems such as diabetes, heart disease, etc., has drawn attention to what to eat and drink.

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Which Factor Might Restrain Market Expansion to Some Extent?

“Competition in Traditional Snacks Market Will Slow Down BFY Market Growth”

Growing consumer interest towards healthier options is a major factor for the boost of the better-for-you snacks market; however, there are market-wide challenges such as competition from the traditional snacks market.

The ever-growing non-better-for-you snack options such as chips, salty snacks, dips, etc., could be a great barrier to the acceptance of better-for-you snacks among people. Healthy snack options such as fresh fruits and vegetables can also create fierce competition for better-for-you snack producers.

Additionally, the high cost related to better-for-you snacks as compared to traditional and healthy snacks could hinder the demand growth for better-for-you snacks.

Lack of awareness and limited access to better-for-you snacks across the world could be another key factor denting the growth of the better-for-you snacks market to some extent.

Competitive Landscape:

Prominent better-for-you snack manufacturers are Mondelez International, Inc., Kellogg, Nestle, B&G foods, Live well snacks, Warrell Creations, PepsiCo’s Frito-Lay, Trufood, Velocity Snack Brands, Left Field Foods, Boulder Canyon, and Amplify Snack Brands.

Leading better-for-you snack brands are employing sustainable technologies and optimization systems for diverse end users. The top producers of better-for-you snacks use sustainable technologies and end user-specific optimization techniques.

Key manufacturers in the better-for-you snacks category are concentrating on creating customized new product designs to address product adoption limitations and follow the general population trend.

  • In Aug.2020, with the support of AUA Private Equity Partners, snack food contract maker TruFood purchased Simply Natural Foods (SNF). The transaction is anticipated to strengthen TruFood’s position in the nutrition bar and chocolate molded snacking markets, where SNF serves both, private label clients and major fast-growing CPG firms as a co-manufacturer.
  • In Dec. 2019, BFY Brands Inc., a snack company that makes PopCorners® and other better-for-you snacks, was acquired by PepsiCo, Inc. The BFY brand will report to PepsiCo’s Frito-Lay and will expand Frito-Lay’s better-for-you snacking portfolio.

Fact.MR has provided detailed information about the price points of key manufacturers of better-for-you snacks positioned across regions, sales growth, production capacity, better-for-you food trends, and speculative technological expansion, in the recently published report.

Key Takeaways from Better-for-you Snacks Market Study

  • The global better-for-you snacks market is projected to expand at an impressive CAGR of 6.7% and reach US$ 54.3 billion by 2032.
  • The market registered 4.2% CAGR between 2017 and 2021.
  • Under product type, the cereals, flakes & seeds segment dominates the market and is valued at US$ 8.3 billion in 2022.
  • Europe dominated the global market with 29.7% market share in 2021.
  • Based on region, demand for better-for-you snacks is expected to increase at CAGRs of 4.8% and 9.7%, respectively, in North America and South Asia & ASEAN.

Segmentation of Better-for-you Snacks Industry Research:

·         By Product Type :

  • Baked Snacks
  • Popped Snacks
  • Snacks Bars
  • Trail Mix
  • Cookies
  • Cereals, Flakes & Seeds
  • Others (Yoghurt, Ice Cream)

·         By Primary Ingredient :

  • Oats
  • Potatoes
  • Vegetables (excluding Potatoes)
  • Rice
  • Corn
  • Lentils
  • Dairy Alternative
  • Others

·         By Sales Channel :

  • Online
    • Brand Websites
    • e-Commerce Platforms
  • Offline
    • Supermarkets/Hypermarkets
    • Convenience Stores
    • Specialty Stores

·         By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & ASEAN
  • Oceania
  • MEA

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Questionnaire answered in the Market outlook Report of Better-for-you Snacks include:

  • What is the key strategy deployed by large players to maximize Better-for-you Snacks growth?
  • What are the main challenges faced by players in the Better-for-you Snacks Demand?
  • With the advent of technological advancement, how will the Better-for-you Snacks landscape change over the forecast period?
  • What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Better-for-you Snacks size?

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