Low-Calorie Snacks Market to expand at a CAGR of 12.31% by 2030

Introduction

The health food industry's market for low-calorie foods is developing significantly. This sector is expanding due to lifestyle shifts and rising health concerns. People desire more low-calorie foods since they are beneficial for various health issues. Snacks are little quantities of food consumed between meals. There are numerous snacks, such as packaged snack foods and other processed foods. Snack foods contain protein, vitamins, minerals, and other healthful and nutritional ingredients. Unlike conventional snacks, low-calorie snacks such as potato chips, baked goods such as bagels, pancakes, and cookies, and confections such as candies, chocolates, and raisins contain healthful and gluten-free ingredients. Given that they are prepared from natural, low-ingredient foods, low-calorie snacks can give various health benefits without harming one's health.

Market Dynamics

The Rise in Health Awareness and Demand for Convenience Food to Drive the Global

Low-Calorie Snacks Market

Over time, people's awareness of the value of eating has grown. This is due to the substantial rise in chronic health conditions. Modern customers have adopted particular diet regimens and even altered their habits to maintain a healthy weight. The consumption of low-calorie snack foods is one of the most notable innovations linked with this trend. Low-calorie snacks are gaining popularity since they do not include additives and are less likely to be nutritionally complete because they provide far fewer calories necessary to maintain a healthy weight.

Due to the use of genetically modified organisms (GMOs) during production, non-organic products have gone through the cracks due to their links to health issues such as organ damage, gastrointestinal and immune system diseases, accelerated aging, and infertility. The market for snack goods is expanding due to the positive characteristics of low-calorie organic snacking items and the growing consumer awareness of health and fitness. This is attributable to the rising popularity of low-calorie foods.

Additionally, the demand for convenience meals has increased steadily over time, with the tendency being particularly prominent in developing regions such as Asia-Pacific and LAMEA. Convenient food has established itself as a dependable source of nutrition for consumers who work in the corporate sector. This increases the market penetration of these products. Since low-calorie snacks are also considered convenience foods, their market will gain from the growth and popularity of convenience foods.

Consumer Willingness Towards Premium and Eco-Friendly Products to Create Global Low-Calorie Snacks Market Opportunities

In recent years, the per capita income of emerging economies has climbed dramatically. In 2019, China's per capita income increased by 0.3% compared to 2018. In 2017, India's disposable personal income increased by roughly 9.4% compared to 2016. Customers are more likely to purchase high-end and ecologically friendly products, such as low-calorie meals, when their spending power increases due to rising disposable incomes and greater global fitness awareness. In addition, favorable government regulations and the benefits of corporate wellness initiatives present a potential for the rise of the worldwide market for low-calorie snacks.

Regional Insights

Europe will likely command the market while expanding at a CAGR of 11.2%. Europe is a highly competitive market in which the retail sector has maintained a relatively steady rate of expansion. This can be attributed to the increase in regional residents' spending, which has led to a rise in the amount of money spent on food and beverages. The key reason driving the expansion of the market for low-calorie snacks in Europe is the increased consumption of fast food. In Europe, distribution networks for retail items are well-established and pervasive.

Germany has the region's largest market for organic snacks. Increased internet penetration and the availability of online food delivery have contributed to a rise in the consumption of these types of foods and beverages, resulting in a significant expansion of the market for snacks. Additionally, the increase in the tourism business in this region affords convenience stores the option to sell snacks. These products are easily transportable and sellable, with low prices and storage costs. Consequently, all of these elements encourage the growth of the market for low-calorie snacks in this region.

North America is expected to reach USD 6,622 million, developing at a CAGR of 12.61%. North America has more fast food and quick service restaurants than any other region. The high expenditure on wholesome, premium-quality foods and snacks, such as low-calorie snacks, is due to the high per capita income and the continuing trend of eating healthily. The increased popularity of convenience meals such as snacks in North America and rising health and fitness concerns are the key reasons driving the expansion of the low-calorie snack industry in this region. In addition, North America has a well-developed retail infrastructure, making it simple for consumers to purchase necessities such as food and groceries. Certain products' easy availability, such as low-calorie snacks, leads to their overall higher sales volume.

Key Highlights

• The global low-calorie snacks market had a revenue holding of USD 8,500 million in 2021. It is expected to reach USD 24,165 million by 2030, growing at a CAGR of 12.31% during the forecast period (2022-2030).
• Based on the type, the savory snack section is projected to grow at a CAGR of 12.01% and hold the largest revenue share.
• Based on nature, the conventional section will likely have the highest shareholding, expanding at a CAGR of 12%.
• Based on the packaging, the pouches section is projected to have the highest revenue shareholding, expanding at a CAGR of 11.9%.
• Based on the distribution channel, the business-to-consumer section is predicted to have the most significant shareholding, growing at a CAGR of 11.91%.
• Based on regional segmentation, Europe will likely command the market while expanding at a CAGR of 11.2%.

Competitive Players

Competitive Players in the Market

• Archer Daniels Midland Company
• Cargill, Incorporated
• Conagra Brands, Inc
• Danone
• General Mills, Inc
• Hain Celestial
• Ingredion Incorporated
• Mondelez International
• Nestle S. A
• The Kraft Heinz Company

Recent Developments

Market News

• In 2022, PepsiCo and Archer Daniels Midland Company, two world leaders in sustainable agriculture and nutrition, announced a ground-breaking 7.5-year strategic commercial agreement to work closely together on initiatives that will significantly increase the use of regenerative agriculture throughout their respective North American supply chains. This strategic alliance between two multinational corporations with solid carbon reduction ambitions is anticipated to cover up to 2 million acres by 2030.
• In 2022, to hasten the research and marketing of alternative dairy products, Archer Daniels Midland Company and New Culture, a pioneer in animal-free dairy, have joined forces. The collaboration demonstrates both businesses' steadfast dedication to making food production more sustainable in the future.

Segmentation

Global Low-Calorie Snacks Market: Segmentation

By type

• Sweet Snacks
• Savory Snacks
• Others

By nature

• Organic
• Conventional

By packaging

• Pouches
• Cans
• Jars
• Others

By distribution channel

• Business to Business
• Business to Customer

By region

• North America
• Europe
• Asia Pacific
• LAMEA