PUBLISHER: Allied Market Research | PRODUCT CODE: 1365657
PUBLISHER: Allied Market Research | PRODUCT CODE: 1365657
According to a new report published by Allied Market Research, titled, "High Fibre Snacks Market," The high fibre snacks market was valued at $24.1 billion in 2022, and is estimated to reach $56.8 billion by 2032, growing at a CAGR of 9% from 2023 to 2032.
The factors such as consumer preference for healthier high-fiber snacks products, change in culture & lifestyle of the emerging Asian market, and increase in demand for convenience foods have impacted the growth of the high-fiber snacks market. Moreover, the market is expected to grow at a faster rate during the forecast period due to increase in population, rise in urbanization, and introduction of healthier bakery alternatives at reasonable costs. Supermarkets and hypermarkets are expected to remain the main sales channels for sweet and savory snacks for the near future. However, as a newly-emerging retail channel that is seeing rapid growth, internet retailing is expected to play a more important role.
As a result of brand-building efforts and the establishment of logistics systems, key business-to-consumer online retailers such as yihaodian and Tmall have become more popular among domestic consumers. Internet retailing is able to provide consumers in lower-tier cities with easier access to newly-launched sweet and savory snacks. The greatest potential threat to the growth of sweet and savory snacks is the consumers' concern regarding food safety. By type, savory snacks held a major share in the market. Changing the lifestyle of people and consuming savory snacks in the parties, events and other functions that serve the people with beverages impact the savory snack market positively. The surge in consumption among the population and rapid urbanization influences the food and beverage industries of key growth of the market.
Snacking products are a leading trend in the food and beverage industry, which is a major key factor that fuels the growth of the global high-fiber snacks market. The business to consumer channel including the hypermarkets/supermarkets segment was the leading channel with maximum share in 2022 growing with a significant CAGR during the forecast period. This is attributed to the increase in business of retail sales in different regions and availability of large shelf space for maximum sales.
The high-fiber snacks market is segmented on the basis of nature, product, distribution channel, and region. By nature, it is bifurcated into organic and conventional. By product, the market is classified into cereal & granola bars, nuts & seeds, dried fruits, meat snacks, biscuits & cookies, trail mix snacks, and others. By distribution channel, it is divided into supermarkets/hypermarkets, specialty stores, convenience stores, online retailers, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, and rest of LAMEA). The key players profiled in this report are Hodgson Mill, Inc., Bearded Brothers, LLC, BiteBox, Ardent Mills, Pure Snacks Private Limited, General Mills Inc., Flowers Foods, Inc., Energy Bar Foods, Kellogg Company, and Grain Millers, Inc.
By region
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