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The low calorie snacks market size is forecast to increase by USD 3.50 billion at a CAGR of 4.5% between 2023 and 2028. The market is experiencing significant growth, driven by shifting consumer preferences towards healthier food options. The trend towards healthy snacking is on the rise, with an increasing number of individuals seeking to maintain a balanced diet and lead active lifestyles. This market is further fueled by the availability of a wide range of low calorie snacks alternatives, such as fruits, vegetables, nuts, and protein bars. Additionally, the emergence of new and innovative products, including air-popped popcorn and baked chips, is expanding the market's reach and attracting a larger consumer base. However, the market faces challenges such as increasing competition and the need to maintain product quality and affordability to cater to evolving consumer demands. Overall, the market is expected for continued growth, driven by changing consumer tastes, the rising trend of healthy snacking, and the availability of various substitutes.
The market is witnessing significant growth due to the increasing preference for healthier food options. The market is driven by various factors including the rise in gluten-free, vegan, and organic diets, especially among people with diabetes, heart disease, and hypertension. The pandemic has further fueled the demand for vaccination, packaged, convenient, and innovative healthy snacks. Ancient grains, superfoods, plant-based proteins, functional ingredients, probiotics, nuts, and seeds are popular choices in the market. The trend towards plant-based diets, veganism, and paleo diets is also influencing the market. Artisanal and specialty bakery products made from power ingredients are gaining popularity. The market is expected to continue its growth trajectory with the introduction of new and exciting products that cater to food habits and offer health benefits.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The offline distribution segment is estimated to witness significant growth during the forecast period. In the current health-conscious consumer landscape, the demand for low calorie snacks, particularly those adhering to gluten-free, vegan, organic diets, is on the rise. This trend is driven by the increasing prevalence of conditions like Diabetes, Heart disease, and Hypertension, which necessitate careful food choices.
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The offline distribution segment was the largest segment and valued at USD 10.29 billion in 2018. As a result, food companies are innovating to create healthy snack options using Ancient grains, Superfoods, Plant-based proteins, Functional ingredients such as Probiotics and Adaptogens, and minimizing the use of Artificial additives, Preservatives, and Allergens. Packaged foods, once stigmatized, are now gaining acceptance as long as they meet the aforementioned criteria. The pandemic has further accelerated this trend, with more people opting for convenient, at-home snacking solutions. Hence, such factors are fuelling the growth of this segment during the forecast period.
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North America is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market is witnessing significant growth due to increasing health consciousness among consumers. The supply chain for these products prioritizes nature and sustainability, with a focus on regenerative agriculture and animal-free dairy. Sweet snacks, such as ice cream, cakes, pastries, and muffins, are popular choices but are often laden with artificial preservatives. To cater to health-conscious consumers, businesses are innovating with low-calorie alternatives, available at specialty stores, online sales platforms, malls, and even through business-to-consumer models. Packaging types for these snacks prioritize transparency and eco-friendliness, reflecting the market's commitment to health and sustainability. New culturally diverse brands, like New Culturr, are entering the market, offering a wide range of options for consumers seeking low calorie, ethically sourced, and delicious snacks. Hence, such factors are driving the market in North America during the forecast period.
Changing consumer tastes and preferences is notably driving market growth. The market is witnessing significant growth due to the increasing preference for healthier food options among consumers, particularly those following gluten-free, vegan, organic diets, or managing conditions such as diabetes, heart disease, and hypertension. Innovative snacks made from ancient grains, superfoods, meats market, plant-based proteins, functional ingredients like probiotics and adaptogens, and natural sources such as fruit, nuts, and seeds, are gaining popularity.
Moreover, the pandemic has further fueled the demand for packaged foods that offer convenience and safety. Food companies are responding by introducing new products that cater to various dietary preferences and restrictions, including gluten-free, grain-free alternatives, and artisanal, specialty bakery products. Thus, such factors are driving the growth of the market during the forecast period.
Rising trend of healthy snacking is the key trend in the market. The global trend towards healthier eating, driven by the rise in disposable income, has significantly impacted the food industry, particularly the market. Consumers are increasingly adopting gluten-free, vegan, and organic diets due to health concerns related to diabetes, heart disease, and hypertension.
Moreover, this shift has led to an increase in demand for packaged foods that cater to these dietary preferences. The pandemic has further accelerated this trend, as people have become more conscious of their health and immunity. Innovative healthy snacks made from ancient grains, superfoods, plant-based proteins, functional ingredients, probiotics, and adaptogens are gaining popularity. Thus, such trends will shape the growth of the market during the forecast period.
Availability of other substitutes is the major challenge that affects the growth of the market. Consumers' preference for healthier snacking options, driven by dietary trends such as gluten-free, vegan, organic, and plant-based diets, is fueling the growth of the market. This trend is particularly significant for individuals managing medical conditions like diabetes, heart disease, and hypertension.
Moreover, for those following specific dietary regimens, such as veganism, Paleo diets, or those with food allergens, low calorie snacks made from ancient grains, superfoods, and plant-based proteins are increasingly popular. Innovative healthy snack options, including functional ingredients like probiotics, adaptogens, and power ingredients, are gaining traction. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Calbee Inc: The company offers low calorie snacks product brands such as miino, Sayaendo, and Vegetaberu.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth as consumers shift towards healthier food choices. Gluten-free, vegan, and organic diets are driving the demand for low calorie snacks, especially among individuals with diabetes, heart disease, and hypertension. Fruit, nuts, seeds, and ancient grains are popular choices for those following plant-based diets, veganism, or paleo diets. Innovative healthier snacks, savory snacks such as those made with superfoods, plant-based proteins, functional ingredients, probiotics, and adaptogens, are gaining popularity. Food companies are responding to this trend by offering low sugar snacks, grain-free alternatives, and artisanal specialty bakery products. The pandemic has accelerated this shift, with more people cooking at home and looking for environmentally friendly food options. Packaged foods continue to dominate the market, but consumers are increasingly seeking out natural, preservative-free alternatives. Artificial additives and allergens are becoming less desirable, and food habits are changing. Premium products, such as low calorie snacks made with power ingredients, are gaining traction among health-conscious consumers. The future of the market looks bright, with continued innovation and a focus on natural, whole foods.
Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2024-2028 |
USD 3.50 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
4.23 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 48% |
Key countries |
US, China, Germany, UK, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ajinomoto Co. Inc., Archer Daniels Midland Co., Beneo GmbH, Bernard Food Industries, Calbee Inc., Cargill Inc., Conagra Brands Inc., Danone SA, Dole plc, General Mills Inc., Ingredion Inc., Mondelez International Inc., Nestle SA, PepsiCo Inc., Roast Way Foods, The Hain Celestial Group Inc., Tyson Foods Inc., and Warrell Corp. |
Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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