Emerging mainstream due to the growing popularity of take-out food
The global economy is facing a huge downturn due to the ongoing coronavirus pandemic. Most of the businesses are temporarily closed and the others who work in the four walls of their houses can hardly make ends meet with the meager income. The healthcare sector is in deep crisis due to the rising number of positive coronavirus cases and the lack of beds and medical help to treat it. The governments of different nations are investing heavily in researching and developing an antidote to fight the Covid-19 pandemic, and we hope to overcome this situation soon.
The increasing prevalence of chronic and acute diseases in people of all ages is a key factor driving the adoption of healthy foods. This is an important factor driving the growth of the global healthy snacks industry. In addition, the increasing development of the food industry and the appearance of various varieties of foods and snacks, such as flavors, shapes, sizes and nutritional values, are an additional boost for the industry. In addition, advances in food processing and preservation technology WILL also CONTRIBUTE to the expansion of the industry.
However, factors such as processing challenges, moisture retention due to less sugar and fat, and the short shelf life of fruit and vegetable-rich snacks can pose significant challenges to the growth of the industry. However, the growing popularity of functional and convenience foods and the growing acceptance of take-out and ready-to-eat snacks coupled with growing awareness among health-conscious consumers are expected to create lucrative growth opportunities for the industry in the years to come. . years
The global healthy snack industry is expected to grow due to the growing health awareness of consumers and the spread of modern lifestyles. Healthy snacks are a quick and inexpensive way to meet your body’s nutritional needs. According to a recently published study, the value of this industry is expected to grow from $78.13 billion in 2019 to $108.11 billion by the end of 2027. The industry is projected to register a CAGR of 4.2% during the forecast period, between 2020 and 2027 .
Nut-based Snacks segment to Cover Largest Share Owing to their High Protein Content
Based on segmentation by product type, the healthy snacks industry accounts for a significant share of the nut-based snacks segment. This is due to the high protein content in nuts, as well as other high nutrient levels such as antioxidants and fiber.
Geographically, Europe covered the largest share of the healthy snacks industry with sales of €31.06 billion in 2019. The rise of takeaways and functional foods has increased the need for healthy snacking and boosted local industries.
On the other hand, the Asia-Pacific industry is expected to experience probably the fastest growth over the years due to the increase in disposable income of people, the increasing adoption of healthy lifestyles and the increasing popularity of foods promoting wellness products.
PepsiCo., Inc. takes a leadership position based on new product launches
As of 2019, PepsiCo., Inc. is the leading player in this industry. Most of the players in the healthy snack industry are in the business of creating new snacks with specific flavors and ingredients to generate more sales and gain a competitive advantage in the industry. The other players are focusing on cooperation strategies like joint ventures, contracts and agreements, partnerships and others to gain competitive advantage in the industry during the forecast period.