The global low-calorie snacks market size was valued at 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).
Low-calorie food is a rapidly expanding market in the health food sector. This industry is growing due to changing lifestyles and rising health concerns. People want more low-calorie food items because they are helpful for various health problems. Small portions of food are consumed as snacks in between meals. There are many different types of snacks, including packaged snack foods and other processed foods. Snack foods are goods that include proteins, vitamins, and minerals, as well as other wholesome and nutritive elements. In contrast to traditional snacks, low-calorie snacks like potato chips, baked goods like bagels, pancakes, and cookies, and confections like candies, chocolates, and raisins contain healthy ingredients gluten-free.
Given that they are made from all-natural, low-ingredient foods, low-calorie snacks can provide many health benefits without negatively affecting one's health. Due to the growing holistic sense of their well-being, which includes practically every aspect of healthy living, customers are becoming more aware of their diets these days. Due to the detrimental side effects of conventional snacks, such as an increase in obesity, an increase in body weight, and fewer nutritional advantages, people are becoming more health conscious and placing a greater emphasis on eating low-calorie foods. The market for low-calorie snacks is also expanding due to rising on-the-go snacking propensities, rising low-calorie food demand, and increasing consumer spending power, particularly in emerging economies.
The Upsurge Health Awareness and Demand for Convenience Food
Over time, people have become more aware of the significance of eating. This is brought on by the sharp increase in chronic health problems. Consumers nowadays have embraced special diet plans to address health issues and even changed their lifestyles to keep in shape. The use of low-calorie snack products is one of the significant developments associated with this trend. Low-calorie snacks are becoming more popular because they don't include additives and are less likely to be nutritionally complete because they offer many fewer calories than are required to maintain a healthy weight.
As a result of the usage of genetically modified organisms (GMOs) during production, non-organic items, on the other hand, have fallen between the cracks due to their links to health problems such as organ damage, gastrointestinal and immune system illnesses, accelerated aging, and infertility. The market for snack products is growing due to the positive attributes of low-calorie organic snacking products and the increased consumer awareness of health and fitness. This is due to increased demand for low-calorie snacks.
Additionally, there has been a steady rise in the demand for convenience foods over time, with the trend being particularly pronounced in developing regions like the Asia-Pacific and LAMEA. For consumers who work in the corporate sector, convenient food has established itself as a reliable source of nourishment. This enhances the market uptake of these items. Since low-calorie snacks are also seen as convenience foods, the market for low-calorie snacks will benefit from the expansion and popularity of convenience foods.
The rise in customer preference for baked goods like bread, cookies, and rolls over cereals like wheat, oat, and barley, which are high in proteins, fiber, minerals, and carbohydrates, is anticipated to restrain the expansion of the low-calorie snacks market. Although there are many healthy snack options on the market, cereal grains are the best energy source. They effectively prevent and treat many illnesses, including cancer, high blood sugar, constipation, and others. Therefore, the availability of healthier alternatives hinders market expansion.
Consumer Willingness Towards Premium and Eco-Friendly Products
The per capita income in developing economies has dramatically increased during the last few years. In comparison to 2018, China's per capita income increased by 0.3% in 2019. India's personal disposable income rose by about 9.4% in 2017 compared to 2016. As customers have more purchasing power, they are more likely to purchase high-end and environmentally friendly items like low-calorie meals due to the rising disposable incomes and the increased global awareness of fitness. Additionally, advantageous government laws and the advantages of corporate wellness programs open up opportunities for the expansion of the low-calorie snacks market globally.
The global low-calorie snacks market is classified across the type, nature, packaging, distribution channel, and region.
Per the type, the fragments are sweet snacks, savory snacks, and others.
The savory snack section is projected to grow at a CAGR of 12.01% and hold the largest revenue share. Rapid urbanization and rising population consumption both have a significant impact on the market expansion of the food and beverage industry. A considerable element driving the growth of the low-calorie snack market is the leading trend in the food and beverage sector toward snacking products. During the projection period, the market for low-calorie snacks would increase due to rising consumer spending on food products and rising demand for savory snacks during movie times in malls and the multiplex sector.
The sweet snack section will hold the second-largest share. The industry is advancing due to consumers' growing taste for sweet treats such as cakes, pastries, ice cream, and muffins due to increased health consciousness. Furthermore, the market is envisioned to expand due to the availability of numerous healthy options with low-calorie, fat-free, and cholesterol-free goods. Additionally, a rise in demand for whole grain and bread with a wheat base, which is high in protein and fiber, supports market expansion.
Per nature, the fragments are organic and conventional.
The conventional section will likely have the highest shareholding, expanding at a CAGR of 12%. Due to an improvement in living standards and greater awareness of the advantages of low-calorie snack products, such as their abundance in antioxidants like polyphenols, which primarily include flavonoids and savory snacks, the popularity of the conventional segment has grown over the past few years. In addition, rising disposable income, shifting taste preferences, and introducing new tastes with more nutritional components contribute to the market's expansion.
The organic section will have the second-largest shareholding. Over the past several years, demand for low-calorie snack goods has increased due to increased knowledge of the many advantages that organic products have over their synthetic equivalents. This is linked to customers becoming more aware of the dangers of using goods that contain harsh chemicals, petrochemicals, and preservatives. Major industry participants have been making significant investments in research and development to increase the production of savory snacks to keep up with shifting consumer demands.
Per the packaging, the fragments are pouches, cans, jars, and others.
The pouches section is projected to have the highest revenue shareholding, expanding at a CAGR of 11.9%. Pouches were once thought to be the most well-liked and often utilized type of packaging. They are frequently one of the reusable and least harmful solutions. Plastic pouches are a good option for the environment because many methods exist to reuse and store them. The plastic pouches market, however, is predicted to grow slowly due to increasing environmental concerns over the use and disposal of these pouches.
The cans section will have the second-largest shareholding. Manufacturers of can packaging are setting a new standard in R&D, concentrating on cost-effective manufacturing locations and close-proximity supply. The focus on high-quality products, changes in consumer lifestyles, and rising disposable income are the main driving forces behind the significant growth anticipated for the low-calorie snack market throughout the forecast period.
Per the distribution channel, the fragments are B2B and B2C.
The business-to-consumer section is predicted to have the most significant shareholding, growing at a CAGR of 11.91%. Due to the accessibility of the products, the urban and semi-urban populace favors outlets, specialized shops, and hypermarkets/supermarkets. One of the trends in the low-calorie snack sector is an increase in the number of outlets with prominent players like supermarkets and hypermarkets. Convenience is one of the driving forces for growth in this subsegment, and this store offers a variety of products based on consumer demand.
The business-to-business section will have the second-largest shareholding. The increased digitalization of business-to-business networks has simplified and streamlined manufacturers' operations. Manufacturers promote their goods directly or through digital marketing on social media sites like Facebook, Instagram, Twitter, and Google. Business to Business has also helped manufacturers provide cost-effective items by lowering shipping and other supply chain costs. This has increased the selling of low-calorie snack products through Business to Business channels.
The region-wise segmentation of the global low-calorie snacks market includes North America, Europe, Asia Pacific, and LAMEA.
Europe will likely command the market while expanding at a CAGR of 11.2%. Europe is a competitive marketplace in which the growth of the retail industry has stayed relatively consistent over the years. This can be ascribed to the rise in expenditures made by the people who live in the region, which has increased the amount of money spent on food and beverages. The rising consumption of fast food is the primary factor propelling growth in Europe's market for low-calorie snacks. The distribution networks for retail goods are well established and ubiquitous across Europe.
Germany's market for organic snacks is the largest of any country in the region. The market for snacks has dramatically expanded due to an increase in internet penetration and the availability of online food delivery, which has contributed to a rise in the consumption of foods and beverages of this kind. In addition, the expansion of the tourism industry in this region is providing roadside stores with an opportunity to sell snack products. These items can be readily sold and carried, with a cheap selling cost and a minimum storage cost. As a result, the market for low-calorie snacks in this region is being encouraged by all these factors.
North America is expected to reach USD 6,622 million, developing at a CAGR of 12.61%. Fast food and quick service restaurants are more prevalent in North America than in any other region. The high per-capita income and the continued trend of eating healthily are to blame for the increased expenditure on wholesome, premium-quality foods and snacks, like low-calorie snacks. The rising popularity of convenience meals like snacks in North America and rising concerns about health and fitness are the primary forces driving growth in the market for low-calorie snacks in this region. In addition, North America has a well-developed retail infrastructure, which makes it easy for customers to purchase daily necessities like food and groceries. The simple accessibility of certain products, such as low-calorie snacks, contributes to their increased sales volume.
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|