Sweet Snacks Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, China, Germany, UK, Russia - Size and Forecast 2024-2028

Sweet Snacks Market Size 2024-2028

The sweet snacks market size is forecast to increase by USD 82.4 billion at a CAGR of 5.21% between 2024 and 2028. The market is experiencing significant growth, driven by several key factors. Firstly, the rising purchasing power of individuals, particularly in emerging economies, is fueling demand for a wider range of sweet snack options. Secondly, the trend towards healthier and organic food choices is influencing the sweet snacks market, with an increasing preference for organic chocolates and other natural sweet snacks. However, the market also faces challenges from stringent government regulations related to food products, which require manufacturers to adhere to strict standards for labeling and safety. Additionally, the growing awareness of the health risks associated with excessive sugar consumption may limit the growth potential of some sweet snack categories. Overall, the sweet snacks market is expected to continue expanding, driven by consumer preferences for convenience, taste, and healthier options. The market report forecast market size, historical data spanning from 2018 - 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.

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Market Segmentation

The market 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.

• Product Outlook
  • Cakes
  • Cookies
  • Others

• Distribution Channel Outlook
  • Offline
  • Online

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Argentina
    • Brazil
    • Chile

By Product Insights

The cakes segment is estimated to witness significant growth during the forecast period. The market exhibits significant growth due to the increasing trend of snacking between meals. Macro indicators, such as hectic lifestyles and changing food preferences, have led to a rise in demand for convenient and tasty snack options. Obesity and health concerns, however, have led consumers to seek out healthier alternatives, such as raw, organic, and whole foods. Organic snacks, including dried fruits, dark chocolate, smoothies, and nuts, are gaining popularity due to their natural ingredients and health benefits.

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The cakes segment accounted for USD 119 billion in 2018. Convenience stores and online distribution channels cater to the demand for quick and easy snacking options. Ingredients like dates, coconut, and seeds are used in various sweet snacks, offering a fresh and natural taste. Calories and carbohydrate content remain key considerations for health-conscious consumers. As a result, there is a growing demand for sugar-free, low-carb, and high-protein snacks, such as protein snack bars and crisps and chips with natural flavors. Diabetic patients and those with dietary restrictions also benefit from these options. The market for sweet snacks includes both fresh and frozen offerings, with extruded snacks and flakes also gaining traction. Organic certifications and a focus on gut health further differentiate the market. Dark chocolate, with its high antioxidant content, is a popular choice among consumers seeking a sweet treat with health benefits.

Regional Analysis

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APAC is estimated to contribute 39% to the growth of the global market during the market forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market caters to consumers seeking convenient, vitamin-rich, and portable options that can boost immunity on-the-go. This market encompasses a diverse range of snacks, including meal replacement bars, frozen snacks, and refrigerated snacks. Many of these snacks are gluten-free and cater to various dietary preferences. Food safety is a top priority, with manufacturers ensuring strict adherence to regulations. Snack varieties abound, from crunchy poppers and Whisps to eco-friendly packaging in recyclable materials and cans. Consumers increasingly demand snacks that offer nutritional benefits and are free from artificial additives. Frozen and refrigerated snacks provide an excellent solution, maintaining their freshness while offering a wide array of flavors. Manufacturers continue to innovate, using sustainable practices and biodegradable packaging to appeal to environmentally-conscious consumers.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

The market is witnessing significant growth due to the increasing preference for convenient and tasty snacking options. Macro Indicators such as the rise in obesity and the demand for healthier alternatives have influenced the market's trajectory. The market includes a wide range of sweet snacks, from fresh fruits and dried fruits like Dates, Coconut, and Nuts to Seeds, Smoothies, and Whole foods. Raw materials used in the production of sweet snacks include ingredients like Calories, Carbohydrates, and Protein snack bars. The market is segmented into Convenience Stores, Online Distribution, and others. Organic Snacks made from Natural ingredients are gaining popularity due to the health-conscious consumer trend. Sweet snacks come in various forms, including Frozen, Dried Fruit, Dark Chocolate, and Potato Crisps. Flavors like All Dressed add to the appeal of these snacks. The market's growth is propelled by the increasing demand for Low Sugar and Organic options. The market is expected to continue its robust growth in the coming years.

Key Market Driver

The rising purchasing power of individuals is notably driving market growth. The global market has experienced significant growth due to various macro indicators, including the expansion of the middle class and increasing consumer purchasing power in developing countries. This trend has led to a rise in demand for non-essential food items, such as convenience and ready-to-eat (RTE) packaged snacks, which include sweet snacks. The preference for these snacks is driven by the convenience they offer, as well as changing consumer preferences towards healthier options. Sweet snacks come in various forms, including raw fruits and dried fruits, such as dates, coconut, and nuts, as well as processed snacks like crisps and chips, extruded snacks, flakes, and sugar-free options. Organic snacks made from natural ingredients, such as whole foods, dark chocolate, and smoothies, are also gaining popularity among health-conscious consumers.

Additionally, there is a growing demand for snacks that cater to specific dietary needs, such as low sugar, diabetic-friendly, and high protein snack bars. The market for sweet snacks is influenced by various factors, including the availability of raw materials, consumer preferences, and distribution channels. Convenience stores and online retail platforms have emerged as key distribution channels for these snacks, making them easily accessible to consumers. Organic certifications and the use of natural ingredients have also become important factors in the market, as consumers increasingly prioritize gut health and overall wellness. In summary, the sweet snacks market is driven by various macro indicators, including consumer purchasing power and changing food preferences. The market offers a wide range of products, from raw fruits and dried fruits to processed snacks and organic options. The convenience and accessibility of these snacks, along with the growing emphasis on natural and healthy ingredients, are key factors driving the market's growth. Thus, such factors are driving the growth of the market during the forecast period.

Significant Market Trends

The rising popularity of organic chocolates is the key trend in the market. The market has experienced significant growth due to the increasing trend of health-conscious consumers seeking organic and natural alternatives to conventional snack options. Macro indicators such as obesity and rising health awareness have fueled the demand for snacks with fresh, organic ingredients, including raw fruits like dried fruit, nuts, seeds, and dates, as well as whole foods like coconut, dark chocolate, and smoothies. Organic snacks, made with natural ingredients and free from artificial preservatives, are gaining popularity among consumers, particularly those with dietary restrictions such as diabetic patients. The market for organic snacks includes a wide range of products, from fresh and frozen fruits and vegetables to dried fruit, nuts, seeds, and extruded snacks like flakes and crisps.

Moreover, dark chocolate, a popular sweet snack, is increasingly being produced organically, with a focus on sugar-free and low-carbohydrate options. Protein snack bars, another popular choice, are available in a variety of flavors and are often certified organic. Convenience stores and online distribution channels have made it easier for consumers to access these healthier snack options. Ingredients like potato crisps, once a staple of conventional snack foods, are now available in organic and low-sugar versions. Consumers are also turning to online retail for organic and natural snacks, as it offers a wider selection and the convenience of home delivery. Organic certifications and a focus on gut health and high protein content are key factors driving growth in the organic snacks market. As consumers become more health-conscious, the demand for organic and natural snacks is expected to continue to rise. Thus, such trends will shape the growth of the market during the forecast period.

Major Market Challenge

The stringent government regulations related to food products is the major challenge that affects the growth of the market. The global market is experiencing notable changes due to macro indicators such as increasing health consciousness and regulatory measures aimed at reducing sugar intake. Governments worldwide are implementing stricter guidelines to address obesity and other health concerns linked to sugary snacks. For instance, the UK's Soft Drinks Industry Levy imposes a tax on beverages with high sugar content, compelling manufacturers to reformulate their products or face increased costs. Similarly, in Malaysia, the Prime Minister announced a 10 sen increase in the sugar tax during the Budget 2024 speech, raising it by 25% from 40 sen to 50 sen per liter. This regulatory environment is driving innovation in the sweet snacks market, with a focus on raw materials like organic food and organic snacks made from whole foods such as dried fruit, dark chocolate, smoothies, nuts, seeds, and dates. Consumers are increasingly seeking fresh, frozen, and dried fruit snacks, as well as sugar-free, low sugar, and natural ingredient options.

Additionally, there is a growing demand for protein snack bars, flavored potato crisps, and other convenient snacks that cater to health-conscious individuals. Online distribution channels, including convenience stores and online retail, are also gaining popularity, making it easier for consumers to access a wide range of sweet snacks that meet their dietary needs and preferences. Diabetic patients and those with gut health concerns are particularly interested in low sugar, natural ingredient snacks, and organic certifications are becoming increasingly important to consumers. Overall, the sweet snacks market is evolving to meet the changing needs and preferences of consumers, with a focus on health, convenience, and natural ingredients. Hence, the above factors will impede the growth of the market during the forecast period.

Exclusive Customer Landscape

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

Key Companies & Market Insights

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.

Arca Continental S.A.B. de C.V. - The company offers sweet snacks products under the brands of Bokados, Wise, Inalecsa, and others.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Arca Continental S.A.B. de C.V.
• Blue Diamond Growers
• Calbee Inc.
• Campbell Soup Co.
• Chocoladefabriken Lindt and Sprungli AG
• Conagra Brands Inc.
• Ferrero International S.A.
• General Mills Inc.
• Haldiram Foods International Pvt. Ltd.
• HARIBO GmbH and Co. KG
• Jelly Belly Candy Co.
• Kellogg Co.
• Mars Inc.
• Mondelez International Inc.
• Nestle SA
• Palmer Candy Co.
• PepsiCo Inc.
• The Hain Celestial Group Inc.
• The Hershey Co.
• Unilever PLC
• Universal Robina Corp.

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.

Market Analyst Overview

The market is witnessing significant growth, driven by the increasing popularity of Macro Indicators such as Snacking and changing consumer preferences. The market is witnessing a surge in demand for Organic Snacks, made from Fresh, Natural Ingredients like Dried Fruit, Nuts, Seeds, and Dates. Dark Chocolate, Smoothies, and Whole Foods are also gaining popularity due to their health benefits. Obesity is a major concern, leading consumers to opt for Low Sugar, Sugar-free, and High Protein options. The market is witnessing a shift towards Convenience Stores and Online Distribution channels. Sweet snacks like Crisps and Chips, Extruded Snacks, Flakes, and Flavored Potato Crisps continue to be popular. The market is also catering to the needs of Diabetic Patients with Sugar-free and Low Sugar options. Protein Snack Bars are gaining popularity among Health-conscious consumers. The use of Natural Ingredients and Organic Certifications is emphasized to cater to the increasing demand for clean label products. The market is also witnessing a trend towards Gut Health and High Protein ingredients. Raw Materials like Coconut and innovative Flavors are being used to cater to the changing consumer preferences. The market is expected to continue its growth trajectory, driven by these trends and opportunities.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behavior
• Growth of the market across APAC, Europe, North America, Middle East and Africa, and South America
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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