As per Future Market Insights, the healthy fat-free snack market is estimated to secure a valuation of US$ 8.4 billion in 2023 and is estimated to rise to US$ 14.4 billion by 2033. The market is anticipated at a CAGR of 5.6% during the forecast period. The factors accelerating the demand for a healthy fat-free snacks are as follows-
The increasing demand for healthy fat-free snacks due to an increased number of health-conscious people is estimated to propel the market growth. The rising health and obesity concerns contributed to increased demand for healthier food items like salads, and veggie chips, which are projected to have a positive effect on the market for healthy fat-free snacks.
The healthy fat-free snacks market is expected to rise during the forecast period due to ready-to-eat nutritious and healthy food items. The rapid advances in the food & beverage industry along with increased consumer awareness and increased demand for fat-free snacks are likely to drive the market growth
North America is leading the healthy fat-free snacks market and is expected to lead its position during the forecast period. The USA is the largest consumer of the market in the region due to rising obesity concerns. The manufacturer is launching healthy fat-free products like baked potato chips and chickpeas puffs in USA and Canada
Asia Pacific is anticipated to become the fastest-growing region in the healthy fat-free snacks market owing to the shift in consumer choices and increased demand for fat-free healthy food products. Also, the growing popularity of the keto diet and zero-calorie food is likely to drive the market demand.
Some of the leading market players operating in the healthy fat-free snack market include General Mills Inc, Dole Food Company Inc, Sun-Maid Bel Brands, Medifast Inc, L T Foods, Danone, Green Park band, Good fish, Food should taste good, vessels, Lytepop, Mr. Makkana, Siggis, Too yum Inc., Himalayan Wellness, Omay foods, Yoga bars, The Whole Truth, and RitebiteMax among others.
The healthy fat-free snack market is fragmented with the presence of many global and regional players. The market players are engaged in acquisition and promotional activities to increase their market presence.
For instance, in March 2021 - Dole Food Company partnered with global brand extension licensing agency, Beanstalk, to extend its iconic brand into food categories to empower consumers to experience healthy living. The healthy fat-free snack market is expected to grow in near future with increasing health concerns consumers are shifting towards fat-free food products.
Also, the rapid growth of e-commerce and the availability of healthy fat-free snacks in numerous supermarkets/hypermarkets, convenience stores, and groceries, increases the sales of the market. The start-ups operating in the healthy fat-free snack market are coming up with very innovative product launches. For instance, founded in 2018- healthy cravings are a brand of healthy snacks, the product range includes makhana in a variety of flavors such as Himalayan Pink, salt and pepper, cheese jalapeno, and minty zest.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value of Healthy Fat-Free Snacks in 2023 | US$ 8.4 billion |
| Projected Market Value of Healthy Fat-Free Snacks in 2033 | US$ 14.4 billion |
| Growth Rate (2023 to 2033) | CAGR of 5.6% |
Demand for healthy fat-free snacks will slowly rebound in the short-term period, with a promising long-term growth outlook. Health-conscious customers are driving demand for fat-free snacks.
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Changing consumer demographics have enhanced the demand for a healthy fat-free snacks market as people nowadays want such snacking options that not only satisfy hunger but also provide health benefits such as a healthy heart, good cholesterol weight management and sugar control.
Thus these crucial health benefits are projected to increase the healthy fat-free snacks market during the forecast period. Increasing lifestyle diseases is among the major reason driving demand for healthy fat-free snacks. Consumers have become conscious about their eating habits and ensure that, by consuming healthy fat-free snacks, which are made up of good quality ingredients and with zero oil and fat content.
The launch of new novel flavours with different combinations by manufacturers is driving the demand for a healthy fat-free snacks market. Youngers are getting attracted to these new product innovations which include plant-based ingredients which are loaded with proteins. New product launches with unique packaging which is environmental friendly are grabbing consumer’s attention and thus propelling the growth of the market.
As work from home needs more efficiency and recovery, there is nothing like an energy protein bar, which is healthy as well as has no fat that help’s to relieve us from the immediate stress of work while offering mental stimulation. This shift towards healthy no-fat snacks due to work from home culture fueling the demand for healthy fat snacks market.
During the pandemic children spent more time at home therefore snacking had increased, parents opted for giving healthy no-fat snacks to children to avoid the problems of obesity in young children due to excess snacking. Thus work from home culture due to covid-19 is boosting the sales of healthy fat-free snacks.
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The USA is one of the largest markets for healthy fat-free snacks market globally. The USA healthy fat-free snacks market is set to tread on the historic pattern of bust and boom during the assessment period 2021 to 2031. Demand is likely to remain muted in the next couple of years, as several end-use industries make a gradual recovery.
Another factor is rising obesity among youngsters and grown-ups a primary driver for launching new healthy fat-free fat snacks products in the market such as baked potato chips, chickpeas puffs in the USA and Canada. The presence of key manufacturers in the region is ensuring availability and easy access of products as well as the launch of new products gaining popularity for healthy fat-free snacks market.
Many countries in the EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, as is the case in the USA and Canada, health-conscious consumers in the EU continues to drive demand for a healthy fat-free snacks market.
Despite the COVID-19 challenges, most European countries have maintained a steady growth due to technological advancement in the area of food processing in the region and changing food preference of consumers. Europe is also expected to grow with a lucrative CAGR over the forecast period.
Another factor that is the contributor to the growth of healthy fat-free snacks in Europe is the shift of consumers to the keto diet which strictly follows the regime of low calorie and zero fat content food items. Thus consumers following the keto diet have relief with these tasty yet healthy fat-free snacks.
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Some of the leading manufacturers and suppliers of healthy fat-free snacks include
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
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Healthy Fat-Free Snacks Market
