The low-calorie snack foods market is estimated to secure a valuation of US$ 1.3 Billion in 2023 and is estimated to rise to US$ 2.4 Billion by 2033. The market is anticipated to grow at a CAGR of 6.5% during the forecast period. The factors accelerating the demand for low-calorie snack foods are as follows-
The increasing demand for low-calorie snack products like bars, chips, cookies, candies, and chocolates and the increased number of health-conscious people is estimated to propel the market growth. The low-calorie snack foods are anticipated to witness a steady increase in demand due to the need for functional ingredients from the health-conscious population.
The shift in consumer preferences owing to the rapidly changing dietary habits due to hectic lifestyles and increased consumer spending is likely to drive the growth of the low-calorie snack food market.
Additionally, low-calorie snacks are available in several shops, supermarkets, hypermarkets, and convenience stores, thus the availability of products in the market elevates consumption.
Europe is leading the low-calorie snack foods market and is expected to lead its position during the forecast period owing to the increasing obese population coupled with growing health awareness among the consumers in the region.
North America is dominating the low-calorie snack foods market. The USA is the largest market in the region due to increasing awareness regarding the healthy diet and increasing demand for convenience food products.
Asia Pacific is expected to be the fastest-growing region due to the rapid development of the food & beverage industry, particularly in developing nations like China and India.
Some of the players operating in the low-calorie snack foods market include PepsiCo, Kind LLC, Gricha, LiveKuna, Bach Snacks, General Mills Inc, Welch Foods Inc, Hunter Foods L.L.C., Kraft Heinz Company, Mondelz International, Conagra Brands among others.
Manufacturers of low-calorie snack foods are doing product innovation, mergers, acquisitions, and expanding their business capabilities to capture the maximum share of the market globally.
For instance, in April 2022- Mondelz International announced it has agreed to acquire the confectionary business of Groupo Bimbo. This acquisition will transform Mondel?z International’s business in the high-priority Mexico market and will accelerate growth and scale in core snacking categories.
The low-calorie snack foods market is expected to grow in the coming years. The increasing consumption of low-calorie confectionary products is expected to drive market growth during the forecast period.
Also, the availability of low-calorie snack food products in numerous malls, convenience stores, and departmental stores increases the sales of the market. The start-ups operating in the low-calorie snack foods market are coming up with very innovative product launches.
For instance, founded in 2017 - KCal Box is the online platform to order healthy snack boxes. The box contains protein bars, nuts, granola, licorice, oatmeal, dark chocolate, and grilled chicken all these products are low-calorie, low-sugar, GMO-free, and organic.
| Data Point | Key statistics |
|---|---|
| Expected Market value in 2023 | US$ 1.3 Billion |
| Projected Market Value in 2033 | US$ 2.4 Billion |
| Growth Rate (2023 to 2033) | CAGR of 6.5% |
With blurring mealtimes as consumers are moving away from the rigidity of dinner and lunch there is an increase in the low calorie snack foods market. Moreover, consumers are not only looking for ordinary snacks, but want an added benefit to it.
There is an increasing demand for snacks that are high in protein such as quinoa chips, high in vitamins e.g. fruit crisps/ dehydrated vegetables and also addition of superfoods such as matcha, maca, yerba matte to anything from kale chips to protein balls. Additionally, there is also a rising demand for organic, vegan, high protein, air popped faba beans snacks in flavors such as pizza and BBQ.
The low calorie snack foods market have seen an upsurge in the market recently due to the dietary changes at the consumer end. Low calorie consumption has become quite a requisite for all the consumers as the physical activity of the majority of the population has decreased which consecutively creates a market for low calorie snack foods in the forecast period.
Several companies of the low calorie snack foods market have started to launch various new products or re-launching old products that are low calorie snack foods which in turn has boosted the market for low calorie snack foods market in the forecast period. For instance,
The key factor for the rise of low calorie snack foods is the busy lifestyle of the consumers. Moreover, due to their busy and hectic lifestyle individual prefer to eat low calorie snack foods which are healthy too. Additionally, increasing health conscious parents has led to upsurge the market for low calorie snack foods.
Low calorie snack foods are aiding to more specific roles in food lives as customers continue to look for ways to balance nutrient-dense, healthy and purposeful snacking with the aimfor emotionally satisfying and indulgent snacks, especially when indulgent snacks are of higher quality.
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The market is attributed to the widespread consumption of baked snacks as a result of urbanization. Moreover, as baked snacks especially cookies are the most desirable snacks from both elderly and young population due to factors such as extended shelf-life and low manufacturing cost, is driving the market growth.
Additionally, nowadays consumers are more concerned about their health and are demanding products conferring health benefits with low sugar content, high dietary fibres, proteins and reduced calories. These factors are also responsible for low calorie snack foods market growth.
Advances in ingredients innovations and bakery processing technologies had led to significant shelf-life expansion as extended shelf life is an effort to make food safe for long periods, whilst preserving its original quality.
Manufacturers nowadays uses various different ingredients and processes to extend product shelf life such as using adequate packing materials and methods, controlling moisture content by optimum baking and cooling conditions. Manufacturers of various companies are also using emulsifiers such as lecithin to slow the rate of firming over time.
Texture differences and flavor combinations play a crucial role in the growth of the low calorie snack foods market. The increasing demand for new flavors and unique twists on old favorites are the primary reasons for the escalating demand for low calorie snack foods market. Producers utilize attractive packaging techniques mentioning clean labels and the product being non-GMO and Kosher certified that help potential customers to understand if the product is right for them or not.
With increasing awareness companies are ensuring that the products are easily accessible to the consumers to procure from online channel or hypermarkets and supermarkets. Earlier, food and beverages would be purchased from nearby available stores. However, in the past one decade, there is a rise in hypermarkets especially in urban areas, wherein it’s easily accessible to the consumers to find everything new that has arrived.
Supermarkets are continuously expanding their food brands in health and fitness, and making it more difficult for other custom-made professionals to compete, which is encouraging them to stock products that are not found elsewhere, including training staff to be experts on these products which in turn is increasing the demand for low calorie snack foods in the market.
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Some of the key players operating in the global low calorie snack foods market are
For attaining credibility and claiming the quality of the product and production process, manufacturers are focusing on achieving certification from authorized institutions such as FSSAI, USA FDA, USDA. These claims and certifications are showcased on the packaging of the product that assists the consumer to differentiate the product from others and hence select the appropriate product.
In the low calorie snack foods market various companies have launched products after seeing the market demands from the consumers. For instance,
North America has a significant amount of share in the global low calorie snack foods market. The country USA extents to have a larger share in low calorie snack foods market than other countries in the world due to numerous global companies established there such as The Kraft Heinz Company, Mondel?z International, Conagra Brands and others.
Latin America also has a growing market of low calorie snack foods due to the upsurge of the market demand in turn which has extended to form many new startups such as,
The low calorie snack foods market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the low calorie snack foods market, including but not limited to: Regional markets, type, packaging type and distribution channel.
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The low calorie snack foods market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators and regulations and mandates is included under the purview of the study. By doing so, the low calorie snack foods market report projects the attractiveness of each major segment over the forecast period.
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Low Calorie Snack Foods Market
