Specialty Snacks Market 2023-2030: A Comprehensive Study Explores Huge Growth in Future

Specialty Snacks Market Future market research insights:

By the end of 2030, the specialty snack market is anticipated to grow at a CAGR of 6.78% and reach a value of USD 18.97 billion. Different kinds of nuts and seeds are a few examples of specialised nibbles. Since they are a wonderful source of protein and energy, people have long chosen to eat them as snacks. They also include plenty of good fats, which support a healthy metabolism.

Specialty foods have less sugar. Consequently, diabetics like eating them. They are not at risk for harmful or unexpected blood sugar rises.

People are concerned about their health everywhere. As a result, people are seeking out healthier snacks. Although it increasingly applies to emerging countries as well, this is particularly true in developed countries. People are increasingly paying closer attention to the nutrition information on the goods they purchase. For the previous few years, this has proven accurate.

They seek for meals that are high in fibre and protein. Both of them are abundant in nuts and seeds.

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Regional evaluation

With a market share of 35%, the specialty snack industry is dominated by the North American market. This was based on data from 2018. The market for specialised snacks is expanding rapidly in North America for a variety of reasons, including:

People are more aware of the foods they put in their bodies today. They desire to consume tastier and more nutritious meals and snacks.

Americans are becoming fatter. To help them lose the extra fat pounds, they are searching for wholesome meals and snacks.

The population of North America is incredibly busy. Particularly in the United States of America, this is true. They frequently lack the time that their grandparents did in the 1950s to prepare wholesome meals. They want to be able to get a quick meal that is also filling while they are on the road.

The proportion of families eating speciality snacks in the form of cereal bars increased by 50% over the 14 years from 2004 to 2018 in the United States. In particular, this applied to chewy granola snack bars. Up until 2024, the specialty snack market is anticipated to grow at a reasonable CAGR in the North American area.

Additionally, the European Union has a substantial market share for speciality snacks. This was explained by the fact that several food producers and processors are creating novel specialised snacks that are more cheap and nutrient-dense than their forerunners. Particularly well-liked are private label brands at affordable costs.

Most of the purchases in the speciality snacks sector were made by millennials in the European Union.

The speciality snack industry is anticipated to rise somewhat in the Asia-Pacific region. This is explained by the fact that there is little knowledge, little purchasing power, and lots of rivalry in the market for speciality foods.

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Market division:

by product category

Based on the kind of product, the speciality snack market may be classified into the following sub-segments: Snack bars, baked products, nut- and seed-filled snacks, popcorn snacks, and other goodies

Using Category

Based on category, the speciality snack market may be split into the following sub-segments: Standard and gluten-free

by Channel of Distribution

Based on distribution, the speciality snack industry may be broken down into the following sub-segments: Store-based and outside of stores

Convenience shops, Supermarkets, Hypermarkets, and Others make up the store-based sub-segment.

From Region

Based on region, the specialty snack market may be broken down into the following sub-segments: Europe, Asia-Pacific, North America, and the rest of the globe.

Key players:

The Kraft Heinz Company, Conagra Brands Inc., General Mill Inc., Kellogg Company, Pepsi Co., Nestle SA (Switzerland), Mars Incorporated, and Blue Diamond Growers are important participants (US)

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