Protein Snacks Market 2022 Key Competitors, Major Products and Services, Share Analysis, and Upcoming Trends to 2030
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Rising preference for healthy snacking among customers is driving global protein snacks market revenue growth
VANCOUVER, BC, CANADA, January 19, 2023 /EINPresswire.com/ -- According to the most recent analysis by Emergen Research, the size of the global market for protein snacks is anticipated to reach USD 8.93 billion in 2030, with a revenue CAGR of 10.1%. The rise in consumer preference for healthy snacks might be ascribed to the market's increase in income. High-protein savoury snacks are supplying the demand from customers for healthy protein in savoury forms since protein snacks provide significant benefits like contentment and energy. During the closure, people spent more time at home, which led to an increase in their intake of savoury snacks, which were quite popular in 2020. Among the products that satisfy consumer desire for savoury snacks with protein are nuts, seeds, and trail mixes. For instance, fortified additions can boost the protein level of trail mixes while introducing a crunchy texture, like Glanbia's CrunchieTM MilkProteinBites. Similarly positioned to meet this demand are meat bars, such those made popular in the United States by Epic and Krave. These single-serve, portable snacks provide a tasty and filling alternative to typical protein bars. These variables collectively are boosting consumer demand for savoury protein snacks and, consequently, market revenue growth.
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In addition, businesses in the protein snack industry are concentrating on adopting strategic collaborations with marketing firms and social media influencers for building a brand image with content geared toward creating snacks for consumers in developing nations. Protein bars, yoghurt, protein beverages, granola, and other foods that serve as playschool supplements are being given to kids by their parents. The market's ability to increase income has been made possible by the changing preferences of consumers for protein snacks.
The report offers a complete analysis of the global Protein Snacks market on a global and regional scale and offers a forecast for the market for 8 years. The report provides extensive coverage of the market drivers, restraints, limitations, growth prospects, threats, opportunities, and current and emerging trends in the market. The report also offers an in-depth analysis of the market players along with their business overview, product portfolio, technological advancements, expansion plans, financial standing, and global position. It also sheds light on the collaborations in the competitive landscape, such as mergers and acquisitions, joint ventures, collaborations, product launches, brand promotions, corporate and government deals, licensing agreements, and others.
Key Companies Profiled in the Report:
Del Monte Foods, Inc, B&G Foods, Inc., PepsiCo, Hormel Foods Corporation, Unilever, Kellogg Co., Nestlé, Danone, Monsoon Harvest, Tyson Foods, Inc., and Clif Bar & Company
Key Parameters Analyzed in This Section:
Company Profiles
Gross Revenue
Profit margins
Product sales trends
Product pricing
Industry Analysis
Sales & distribution channels
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Some Key Highlights in the Report
RXBAR, a Kellogg subsidiary, debuted its first plant-based product on June 2, 2021. RXBAR Plant includes 10 grammes of protein and swaps pea and almond protein for the brand's distinctive egg white protein. Chocolate and peanut butter are among the flavours.
The segment of protein flakes is anticipated to have the quickest revenue CAGR during the projection period. The segment's revenue growth can be ascribed to the existence of vital nutrients that support the body's ability to mend and operate better. Protein flakes are becoming more and more popular, which is causing the segment's income to expand as more people participate in sports of all kinds. Additionally, protein flakes include cereal flakes from different types that are used in extreme sports like marathons, relays, and others, which is what is causing the segment's income to expand.
In 2021, the E-commerce industry contributed a sizeable portion of total income. Since they recognise the potential of the channel, manufacturers are opening online storefronts to better meet consumer wants while boosting profit margins. To accommodate the increase in e-commerce demand, companies that operate as sales channels, such as Amazon, Walmart, NuGO Natures Basket, and many more, have grown their direct-to-consumer businesses. Due to COVID-19's stay-at-home orders, which lasted for about a year and a half, e-commerce stores are now a common choice for purchases of all kinds around the globe.
Due to the presence of a sizable working class in nations like Germany and the United Kingdom, the European market is anticipated to expand at a moderate rate over the projection period. Additionally, there are convenience stores and hypermarkets in the area that are focused on environmentally friendly product packaging, headed by start-ups that make such packages using biodegradable polymers.
Segmental Analysis
The global Protein Snacks market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Protein Snacks sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.
Segments Covered in this report are:
Product Type Outlook (Revenue, USD Billion; 2019-2030)
Protein Bars
Protein Cookies
Protein Flakes
Jerky
Granola
Yogurt
Protein Drinks
Others
Sales Channel Outlook (Revenue, USD Billion; 2019-2030)
E-Commerce
Hypermarkets/Supermarkets
Convenience Stores
Specialty Stores
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The all-inclusive report on the Global Protein Snacks Market added by Emergen Research demonstrates that the global Protein Snacks market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analyzed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Protein Snacks market. The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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