Increasing Popularity of On-the-go Nutrition
The global economy is facing a severe collapse due to the current coronavirus pandemic. Most businesses are temporarily on hold, and others that operate within the four walls of their homes are barely able to manage their meager incomes. The healthcare sector is facing a severe crisis due to the growing number of positive coronavirus cases and the lack of beds and medical assistance to treat. National governments are investing heavily in research and development of the antidote to fight the Covid-19 pandemic and we hope to overcome this quickly.
The increasing incidence of chronic and acute diseases among people of all ages is a key factor in healthy eating. It is the main driver of the global growth of the healthy snack industry. In addition to this, the growing evolution of the food industry and the emergence of different varieties of foods and snacks such as flavors, shapes, sizes and Nutrition value are also adding impetus to the industry. Besides, advances in food processing and preservation technology will also help the industry grow.
However, factors such as processing problems, moisture retention from reducing sugar and fat, and the short shelf life of fruit and vegetable snacks can pose a serious challenge to the development of the industry. Nevertheless, it is expected that the growing popularity of functional and convenience foods and the increasing adoption of ready-to-eat snacks, combined with increasing awareness among health-conscious consumers, may create lucrative growth opportunities for the industry in the coming time. years.
The global healthy snack industry is expected to grow significantly due to increasing health awareness among consumers and the increasing spread of high-quality lifestyles. Healthy snacks are a quick and inexpensive way to meet your body’s Nutrition needs. According to a recently published study, the industry is expected to grow from $ 78.13 billion in 2019 to $ 108.11 billion by the end of 2027. The industry is likely to show a CAGR of 4.2% in the forecast period between 2020 and 2027.
The peanut snack segment that will have the largest share due to its high protein content
Based on segmentation by product type, the healthy snack food industry has a large share of the peanut snacks segment. This is because nuts are high in protein as well as other nutrients like antioxidants and fiber.
Geographically, Europe had the largest share of the healthy snack industry with revenues of $ 31.06 billion earned in 2019. The region’s growth is attributed to the presence of the most health-conscious, busy schedules and busy lifestyles. The advent of nutritious and functional take-away foods is fueling the demand for healthy snacks, thereby stimulating the regional industry.
On the other hand, industry in the Asia-Pacific region is likely to show the fastest growth in the coming years due to people’s rising disposable incomes, the growing popularity of a healthy lifestyle, and the popularity of well-known wellness-promoting foods. as “better for you” food.
PepsiCo., Inc. maintains its leading position thanks to new products launched on the market
As of 2019, PepsiCo., Inc. is a leading player in this industry. Most players in the healthy snack food industry are producing new snacks with unique flavors and ingredients to attract more revenue and gain a competitive advantage in the industry. Other players focus on collaborative strategies such as joint ventures, contracts and agreements, partnerships and more to gain a competitive advantage in the industry during the forecast period.