Protein Snacks Market

Protein Snacks Market Outlook (2022 to 2032)

The global protein snacks market is expected to follow an estimated CAGR of 9.3% in the global market, during the forecast period. The total revenue of the global protein snacks market share is valued at USD 4.1 Billion in 2022 and is expected to cross USD 10 Billion by 2032.

Attributes	Details
Protein Snacks Market Size (2022)	USD 4.1 Billion
Protein Snacks Market Size (2032)	USD 10 Billion
Protein Snacks Market CAGR	9.3%

The demand for protein snacks is anticipated to increase as consumers become aware of the occurrence of chronic health issues such as obesity and heart diseases that emerge from consuming unhealthy food products. The availability of both plant-based and meat-based protein snacks in the market, catering to the nutritional preferences of different communities, is also likely to surge the adoption of protein snacks.

The protein snacks market share is expected to grow rapidly owing to the anti-aging properties of high-protein food products, as it provides energy for consumers in the category of the geriatric population. The increasing popularity of naturally-sourced and organic food products that supply maximum nutritional value amongst the millennial crowd is likely to increase the demand for protein snacks further in the coming days.

The several options for the adoption of protein snacks, such as protein bars and protein powder, are increasing in demand and are expected to promote protein snack market growth across the globe.

What are the Key Features that Drive the Protein Snacks Market?

Busy and hectic lifestyles effectuating poor eating habits, as well as increasing health awareness amongst consumers, are expected to surge the demand for protein snacks. The requirement for healthier snacks containing nutritious and natural ingredients that are beneficial for health and wellness and are free from false claims is likely to drive the sales of protein snacks.

Fitness and gym enthusiasts are increasing the adoption of protein snacks, owing to their growing demand for high protein-based food products to achieve their fitness goals. The protein snacks market share is expected to expand owing to their high fiber content in them, which increases demand for consumers seeking weight-loss-inducing food items, as it omits excessive sugar, bad carbohydrates, and extra calories to meet health goals.

The rise in veganism, as well as the increase in awareness of the benefits of consuming plant-based food products amongst health-conscious consumers, is anticipated to grow the sales of protein snacks. The opening of several gyms across the globe and the growing awareness of snacking consciously and avoiding unrestricted snacking of high-calorie food products are likely to bolster the global protein snacks market share.

Health issues arising from poor eating habits due to the wide availability of unhealthy snacks in the market are anticipated to surge the adoption of protein snacks as the growing appreciation for smart snacking rises. Likewise, the prevailing presence of malnutrition in underdeveloped countries compels consumers to become health-conscious and take initiatives to counter these issues, which is expected to increase the demand for protein snacks.

The rise in disposable income amongst the middle-class population, along with the availability of foreign brands in the markets of developing economies, is likely to surge the demand for protein snacks. The demand is high, owing to the rising trend of adopting Western food and cultural habits.

Consumers belonging to the corporate culture with long working hours requiring on-the-go snacks that provide nutritional requirements are expected to boost the protein snacks market growth. Moreover, the ability of protein-based food products to curb hunger for longer hours is further likely to surge the sales of protein snacks among millennials.

What are the Restraints of the Protein Snacks Market?

The incorporation of whole grains and removal or reduction of fats and sugars negatively impacts the moisture retention and binding capacity of ingredients, affecting the texture of the final product that is likely to obstruct the demand for protein snacks. Consumers demanding naturally-sourced ingredients in their snacks that are devoid of preservatives and additives are also expected to hinder the growth of protein snacks market share.

The high production cost of protein snacks raises the price of the final product, which is likely to curb the sales of protein snacks. Additionally, high-level cost competition amongst small-scale and large-scale manufacturers is likely to impede the protein snacks market growth.

What are the Scopes of the Protein Snacks Market?

Manufacturers are aiming to expand the product portfolio of protein snacks with innovative types such as bars, powder, etc., as well as flavors and ingredients, which are anticipated to increase the sales of protein snacks. The growing preference for plant-based products and adopting a healthier lifestyle are creating lucrative opportunities for market players to consider market orientation, thereby broadening the protein snacks market share.

Proper labeling/printing of ingredients and calorie count and the appropriate portion of the snacks packaged for quick consumption, especially for extremely busy consumers such as corporate employees, is expected to surge the demand for protein snacks.

Likewise, Celebrity endorsements and proactive campaigns declaring the benefits of protein snacks are likely to expand the protein snacks market size.

How will the North America Protein Snacks Market Grow?

North America holds the largest protein snacks market share of 41.2% in 2022.

The demand for protein snacks is expected to rise in the US as the consumer focus has shifted to the consumption of healthy and nutritious snacks to prevent health-related risks posed due to excessive unhealthy snacking habits.

Convenience stores are collaborating with delivery platforms to strengthen their presence in e-commerce. Brands featuring their product portfolio on e-commerce platforms other than retail institutes to reach a wider audience across the globe, as well as spread awareness of the product benefits, are anticipated to increase the sales of protein snacks in the region.

How is the Performance of the Europe Protein Snacks Market?

With a share of 35.9%, Europe dominates the protein snacks market share as well.

The high proliferation of convenience stores, supermarkets, and hypermarkets in this region housing a wide product range of healthy snacks is likely to expand the global protein snacks market share. The demand for protein snacks in the region is likely to rise owing to manufacturers focussing on the packaging of the food products by making them attractive, travel-friendly, and biodegradable.

With the prevalence of chronic illnesses in this region, especially due to unhealthy snacking habits, spreading awareness of the benefits of protein snacks is further bolstering the protein snacks market share.

What is the Growth Outlook for the Asia Pacific Protein Snacks Market?

The Asia Pacific is anticipated to become the fastest-growing protein snacks market share, in the global market.

The growing awareness of the benefits of healthy snacking, as well as the influence of the Western lifestyle, is expected to increase the sales of protein snacks, in this region.

Ongoing research and development activities to persistently improve the taste and texture of protein-based food products, while keeping the prices low are expected to surge the adoption of protein snacks. Subsequently, the emergence of new key players in this region, as well as the availability of international brands in the regional market, is anticipated to surge the demand for protein snacks.

How is the Start-up Ecosystem in the Protein Snacks Market?

New manufacturers of protein snacks entering the market are transforming the world of protein snacks with innovative strategies. They are coming up with products and flavors that cater to the needs of every individual customer.

Several start-up companies such as ONE Brands, RYSE Supplements, Hammer Nutrition, Pure Protein, Protein Package, etc. have come up with various strategies that have already emerged as successful ideas in the market such as protein powder supplements, protein snacks monthly subscription boxes, personalized boxes and protein bars, etc.

Competitive Landscape of the Protein Snacks Market

Some of the key market players in the protein snacks market are Vitaco Health Australia, Powerful Men LLC, Quest Nutrition LLC, General Mills (Natures Valley), Clif Bar & Company, Kellogg Co., Buff Bake, Premier Nutrition Corporation, Naturell Inc., Bakery Barn, Inc., Bounce Foods ltd., Good Full Stop Ltd., Kashi Company, Hormel Foods Corporation, PowerBar Inc., Iovate Health Sciences Inc., TruFoodMfg Company, Small Planet Foods Inc., YouBar Manufacturing Company, WhiteWave Foods Company, Jack Link's Beef Jerky, Newon Foods, Met-Rx Inc., Premier Protein, The Coca-Cola Company, PepsiCo Inc., Mondelez International, Warrell Corporation, Laboratoire PYC, MyBars, Kind LLC, Hunter Foods LLC, NZProtein, Sponser Sports Foods Ltd., Quaker Oats, ONE Brands, RYSE Supplements, Hammer Nutrition, Pure Protein, Protein Package, etc.

Manufacturing food products for all age groups, as well as catering to every dietary need is of utmost importance to key market players at the moment to expand their brand value which is likely to increase the adoption of protein snacks amongst consumers.

Some of the recent developments in the protein snacks market are:

• In 2020, the Coca-Cola Company launched ‘Core Power, which is a high-protein strawberry-flavored milkshake, in the US
• In 2019, General Mills launched new bars named EPIC Provisions Rise & Grind morning-inspired bars, LÄRABAR plant-based protein bars, and Nature Valley Wafer Bars that were launched following new consumer trends.
• In 2018, Optimum Nutrition, a sports nutrition brand launched two high-protein snacks namely ON Peanut Butter Chocolate protein and ON Protein Almonds cake bites in the US to target health and wellness-conscious demographics of the country.
• In 2018, Quest Nutrition launched Protein Chips based on Tortilla Style which has nine times the protein of normal chips, and nearly 75% lower net carbs, according to the company.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 9.3% from 2022 to 2032
The base year for estimation	2021
Historical data	2016 to 2021
Forecast period	2022 to 2032
Quantitative units	Revenue in USD Million and CAGR from 2022 to 2032
Report Coverage	Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,
Segments Covered	Type, Product Type, Distribution Channel, Region.
Regional scope	North America; Western Europe; Eastern Europe; Middle East; Africa; ASEAN; South Asia; Rest of Asia; Australia; and New Zealand
Country scope	United States of America, Canada, Mexico, Germany, United Kingdom, France, Italy, Spain, Russia, Belgium, Poland, Czech Republic, China, India, Japan, Australia, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Iran, South Africa
Key companies profiled	Vitaco Health Australia; Powerful Men LLC; Quest Nutrition LLC; General Mills (Natures Valley); Clif Bar & Company; Kellogg Co.; Buff Bake; Premier Nutrition Corporation; Naturell Inc.; Bakery Barn, Inc.; Bounce Foods Ltd.; Good Full Stop Ltd.; Kashi Company; Hormel Foods Corporation; PowerBar Inc.; Iovate Health Sciences Inc.; TruFoodMfg Company; Small Planet Foods Inc.; YouBar Manufacturing Company; WhiteWave Foods Company; Jack Link's Beef Jerky; Newon Foods; Met-Rx Inc.; Premier Protein; The Coca-Cola Company; PepsiCo Inc.; Mondelez International; Warrell Corporation; Laboratoire PYC; MyBars; Kind LLC; Hunter Foods LLC; NZProtein; Sponser Sports Foods Ltd.; Quaker Oats; ONE Brands; RYSE Supplements; Hammer Nutrition; Pure Protein; Protein Package.
Customization scope	Free report customization (equivalent to up to 8 analyst working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.

Key Segments Profiled in the Protein Snacks Market Survey

By Type:

• Plant-Based Protein Snacks
• Meat-Based Protein Snacks

By Product Type:

• Protein Bars
• Protein Cookies
• Protein Drinks
• Protein Flakes
• Jerky
• Granola
• Yogurt

By Distribution Channel:

• Specialty Stores
• Convenience Stores
• Retail
• E-Commerce

By Region:

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Frequently Asked Questions

How much CAGR can be estimated for the Protein Snacks Market?

The protein snacks market is anticipated to follow a CAGR of 9.3% through 2032.

Which is the Leading Regional Market of Protein Snacks?

North America is the leading protein snack market.

What will be the Size of the Protein Snacks Market by 2032?

By 2032, the market is likely to grow to a net worth of USD 10 Billion.