Snacking has become a global phenomenon, with rising markets all over the world and an ever-expanding consumer demographic. Salty snacks are still an American favorite; however, as consumers become more health-conscious and continue to live fast-paced lifestyles, healthy snacks and alternative snack bars are establishing their place in the market.
With snacking and snack bars often replacing complete meals, a product’s nutritional value is of growing concern to consumers. According to Research and Markets’ Healthy Snack Market Analysis, the global healthy snack market is expected to reach USD $32.8 billion by 2025. The rising awareness about healthy snacking, along with the mobility of the product, is propelling growth.
As for bars, Research and Markets reported increasing demand for single-serve bars of cereal, granola, nuts, seeds and meat is rising due to a growing working class engaged in long working hours and who prefer nutritious snacks between meals. Cereal and granola bars will witness the fastest growth with a compound annual growth rate (CAGR) of 6.3 percent from 2017 to 2025 due to their nutritious content.
With clean label, non-genetically modified organism (GMO), gluten-free, low-sugar and other healthy claims topping growth trends in the snack and bar market, manufacturers must meet these newfound health standards. Pam Stauffer, global marketing programs manager, Cargill, said evolving protein ingredients from whey and soy to pea, bean, lentil and other plant proteins are making headway in the market, and manufacturers must meet evolving consumer preferences.Read more about the latest product developments and market trends in INSIDER’s Snacks and Bars Digital Magazine.