PUBLISHER: KBV Research | PRODUCT CODE: 1374102
PUBLISHER: KBV Research | PRODUCT CODE: 1374102
The Global High Fibre Snacks Market size is expected to reach $48.4 billion by 2030, rising at a market growth of 9.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,577.1 kilo tonnes, experiencing a growth of 9.9% (2019-2022).
Many health experts suggest people that they should add cereals and grains to their diets as it reduces the risk of heart disease and diabetes, which is fuelling the cereals and grains segment's growth. Consequently, the cereal and granola bars segment captured $11.8 billion by 2030. Dietary fiber is primarily derived from grains and cereals, including oats, barley, maize, rice, and wheat. The characteristic of dietary fiber is that it forms a substance when it comes in contact with abdominal fluid, slowing down digestion, which completes the absorption of nutrients from food, rendering them available for use by the body. It also aids in lowering blood levels of low-density lipoprotein, also known as poor cholesterol. Some of the factors impacting the market are increasing demand for healthy foods, rising popularity of convenience foods and technological and processing-related challenges. Some of the factors impacting the market are increasing demand for healthy foods, rising popularity of convenience foods and technological and processing-related challenges.
The primary driver of the market is the rising consumer demand for healthy foods to protect general health and reduce the risk of various lifestyle-related chronic health disorders. In the food category, customers are still looking for healthier options. Retail channels have embraced food goods incorporating valuable elements, including micronutrients, proteins, fiber, organic, plant-based, and clean-label products. The healthy snacks industry is experiencing rapid growth due to the increasing demand for convenient, ready-to-eat foods and on-the-go snacking. The busy lifestyle of modern consumers has made on-the-go products a popular choice, as they provide quick nutrition and a feeling of satiety, enabling people to get through their day quickly. Therefore, the introduction of on-the-go snacks will aid in the expansion of the market in the coming years.
However, the market is challenging for manufacturers facing various technological and processing-related obstacles. The texture and crispiness of snacks are critical factors that consumers notice when purchasing products, and they play a vital role in determining whether or not a snack is appealing. However, manufacturers face challenges when trying to reduce or remove fats and sugar and incorporate whole grains into their products, as doing so can negatively impact the moisture retention and binding capacity of ingredients, ultimately affecting the final texture of the product. Hence, the technological and processing difficulties associated with the production of high fiber snacks can hamper the expansion of the market.
Based on nature, the market is characterized into organic and conventional. In 2022, the conventional segment recorded the highest revenue share in the high fiber snacks market. The segment is expected to remain dominant during the forecast period. The growth of the high fiber snacks market in the food and beverage industry is due to its commercial application. High fiber food is in high demand because it is low in calories and rich in vitamins and nutrients, particularly for functional beverages.
Distribution Channel Outlook
Based on distribution channel, the market is characterized by supermarkets/hypermarkets, specialty stores, convenience stores, online retailers, and others. In 2022, the convenience stores segment recorded a significant revenue share in the high fiber snacks market. Convenience stores have gained significant popularity in recent years, especially in urban and suburban areas, primarily due to their convenience and accessibility. Convenience stores are particularly relevant for individuals who are short on time, requiring easy access to healthy snacks. Competitive pricing and discounts on healthy snacks further incentivize consumers to choose these options over less nutritious alternatives.
Based on product, the market is characterized into cereal & granola bars, nuts & seeds, dried fruits, meat snacks, biscuits & cookies, trail mix snacks, and others. In 2022, the cookies and biscuits segment acquired a significant revenue share in the high fiber snacks market. The rise in demand for sugar-free cookies can be attributed to the desire to maintain a healthy lifestyle and lose weight. A significant portion of the young population is conscious of their sugar intake and tries to regulate it as much as possible to maintain weight.
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. Region-wise, the high fiber snacks market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America segment recorded the highest revenue share in the High fiber snacks market. In recent years, particularly after the pandemic, the demand for nutrient-rich snacks has increased in the United States. The United States already consumes many snacks, but to reduce the health concerns associated with excessive snacking, consumers are placing a greater emphasis on consuming nutritious snacks. Another significant element driving the sales of healthy snacks in the region is the high supermarket and hypermarket expansion rates, combined with convenience businesses.
Strategies Developed in High Fibre Snacks Market
Jul-2023: General Mills, Inc. expanded its Cinnamon Toast Crunch and Cheerios portfolio with the addition of twice the amount of Vitamin D with the majority of Big G Cereals. Additionally, General Mills is introducing a major nutritional improvement in most Big G Cereals through its "Goodness We Grow Up On" campaign.
Jul-2023: Kellogg's India teamed up with Hershey's, an American multinational company, to launch Hershey's Chocos. Through this collaboration, the product produced would be successful both in taste and in providing the correct amount of nutrition. Additionally, this partnership has prospered in markets beyond India, like Japan and Australia.
May-2023: Kellogg Japan formed a partnership with Kirin Holdings, a Japanese beer and beverage holding company, to launch ll-Bran Immune Care. The new addition of Kellogg's portfolio is a functional food containing L. lactis strain Plasma (postbiotic) and fermented dietary fibre arabinoxylan. The product would help to improve intestinal health, bowel movements, maintaining immunity and health of people.
Feb-¬2023: Kind, a snack bar manufacturer under Mars ownership, expanded its portfolio with a new flavor: "Caramelized Biscuit Nut." This new addition combines peanuts, almonds, and cashews with a subtle caramel taste and notes of spiced biscuit flavorings. With 81% nuts, this bar is rich in fiber, gluten-free, and free from artificial flavors.
Dec¬2022: SNICKERS, part of Mars, launched SNICKERS Hi Protein bars. SNICKERS Hi featuring the classic SNICKERS taste with 20 grams of protein to meet consumer nutritional needs. Additionally, SNICKERS Hi Protein bars are sure to be a success, for dedicated fitness enthusiast, occasional exerciser, or simply seeking a tasty, high-protein snack.
Jan-2022: General Mills Inc. expanded its snack bar portfolio with the addition of the strawberry cheesecake flavoured cake bar, Fibre One 90. The fibre One 90 is made of a strawberry filling, layer of soft cake, cream cheese coating and topped with crunchy sprinkles. This product satisfied the sweet tooth cravings of the weight managers.
Feb-2021: Ardent Mills came into a partnership with Hinrichs Trading Company, provider of chickpea sourcing, cleaning and packaging services. Through this partnership, Ardent Mills invested in speciality ingredients and diversified its portfolio. Additionally, this deal helped to satisfy the consumer demand for plant-based speciality ingredients.
Jan-2021: Kellogg Co. introduced its Special K brand to the keto category with a new line of Special K Keto-Friendly Snack Bars. Kellogg's Special K Keto-Friendly Snack Bars made with ingredients including peanut butter or almond butter, peanut flour or almond flour, oat fiber, chicory root fiber, soy protein, cocoa butter, whey protein, and stevia.
Jan-2021: Ardent Mills introduced several speciality ingredients for their foodservice and bakery distributors. These ingredients helped the distributors meet the demand for plant-based speciality ingredients of their customers.
Nov-2020: Mars, Incorporated acquired KIND North America, a healthy snacking leader. KIND North America and KIND International has united to form a single entity spanning 35 countries. This organization is operating independently as a distinct business entity within the Mars Family of Companies.
Feb-2020: Ardent Mills acquired Andean Naturals, Inc., a wholesaler of organic quinoa. Through this acquisition, Ardent Mills provided its customers with quinoa and other products which are gluten-free.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Mills, Inc., Hodgson Mill, Inc., Bearded Brothers, LLC, Kellogg Company, Flowers Foods, Inc., Mars, Inc. (Kind LLC), Energy Bar Foods (Visionary Nutrition, LLC), Ardent Mills, Mojo Snacks and Grain Millers, Inc.
Market Segments covered in the Report:
By Nature (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Distribution Channel (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Million, 2019-2030)
By Geography (Volume, Kilo Tonnes, USD Million, 2019-2030)
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