Global High Protein Snacks Market - 2023-2030

Global High Protein Snacks Market - 2023-2030

Global High Protein Snacks Market reached US$ 92.3 billion in 2022 and is expected to reach US$ 144.9 billion by 2030 growing with a CAGR of 5.8% during the forecast period 2023-2030. The rise in protein deficiency and increased demand for healthy snacks drive the global high protein snacks market growth.

Manufacturers are focusing on innovations in high protein snacks with the increasing consumer health consciousness. In addition, the growing demand for organic and naturally sourced ingredients is also trending in the snacks industry resulting in the high protein snacks market expansion. The rise in veganism and increased awareness of the benefits of consuming plant-based food products amongst health-conscious consumers is anticipated to grow the sales of protein snacks.

Key players are aware of the altering consumer trend and growing preference towards plant-based products and healthier lifestyles, and hence, are trying to update their inventories with more and more plant-based high protein snacks. For instance, in May 2020, Kellogg, an American multinational food manufacturing company, launched a new cereal-based snack range, Jumbo Snax. This new product line incorporates various ingredients such as corn pops, fruit loops, apple jacks, and tiger paws.

Market Dynamics
The Growing Protein Deficiency Estimated to Drive the High Protein Snacks Market.
There is a growing health consciousness in people, and they are now focussing on a healthy diet to improve health and provide a healthy lifestyle. Protein is an integral part of an essential diet. But according to FAO, about one billion people worldwide suffer from protein deficiency. In Central Africa and South Asia, the problem is severe, where about 30 percent of children consume too little protein. People are looking for protein-rich snacks which are convenient and nutritious.

Manufacturers focus on people’s needs and preferences and produce snacks to satisfy consumers. For instance, in May 2023, the innovative snack brand, Snack House Foods, launched their deliciously crispy BBQ and Loaded Nacho Keto Puffs in YesWay and Allsup’s convenience stores through partner GPO+. The high-protein, low-carb, and gluten-free Keto Puffs are made with premium ingredients and attract people’s attention.

The Increasing Healthy Snacking Habits Drive the Global High Protein Snacks Market Growth.
Healthy snacking is a growing food trend. Consumers are also becoming more thoughtful about their snacking choices. They opt for healthier snacks containing nutritious and natural ingredients, free-from claims, and labels that benefit their health and wellness. With increasing busy lifestyles, and increased employment ratio, people opt for snacks that are convenient and easy to use. Protein snack bars and protein balls are widely used.

Consumers prefer higher protein snacks as they fulfill the body's basic nutrition needs, provide energy, cut down excess fats and cholesterol, and keep individuals satiated for longer. According to the USDA study, an average American consumes more than 2.2 snacks daily and acquires one-quarter of calories through snacks. The high-protein snacks after exercising can replace stored energy and speed up muscle recovery.

Processing Related Issues and High-Cost Restrains the Market Growth.
Protein is one of the costliest ingredients in any diet. It is a pricy ingredient that provides essential nutrients for the human body to maintain muscle mass and promotes muscle growth. High protein snack production needs premium-quality components and sources, which adds cost to the production and influences the price of the final product. Low-moderate-class people find it difficult to buy high-protein snacks due to high costs.

The high-protein snacks market is restrained by challenges faced by manufacturers while processing these snacks. The texture and crispiness are the crucial characteristics of any snack, like protein chips, protein crackers, protein cookies, and protein popcorn. These characteristics can be affected due to moisture retention problems while processing. Likewise, the fruit & vegetable snacks segment poses difficulties in their preservation and shelf stability.

COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown, and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis
The global high protein snacks market is segmented based on type, source, distribution channel, and region.

In the Global High Protein Snacks Market, the Plant-Based Holds the Largest Market Share.

The global high protein snacks market has been segmented by source into plant-based and animal-based. In the high protein snacks market analysis report, the plant-based segment held the largest high protein snacks market share of 53.4% in 2022. Increasing people’s preference for plant-based food drives this segment’s most significant share.
People around worldwide are shifting to vegan foods. The increased awareness about plant-based food, improved health concerns about animal protein, and ethical & environmental reasons drive people towards plant-based food. According to World Animal Foundation, there are approximately 88 million vegans worldwide. Plant-based protein can also increase fiber intake and improve dietary fat quality, which the segment is boosting.

Geographical Analysis
The North America Region Held the Largest Share of the High Protein Snacks Market.

The global high protein snacks market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American high protein snacks market held the largest market share of 38.6% in 2022 in the high protein snacks market analysis. The increased employment-population ratio and people’s preference towards healthy food intake are increasing the market growth in this region.

The increased women’s employment left them with less cooking time. Snacks are convenient and easy to use, which is boosting the market growth. Snacks make up 11% of meal occasions in the United States; they are becoming increasingly concerned about healthy eating. Nearly more than 95% of Americans have snacks at least once a day, and 70% twice a day. The convenience and portability of high protein snacks led to increased snacks by communities across the United States.

Competitive Landscape
The major global players in the market include General Mills Inc, Buff Bake, Clif Bar & Company, Vitaco Health, Bounce Foods Ltd, Powerful Men LLC, Premier Nutrition Corporation, The WhiteWave Foods Company, Quest Nutrition LLC, and Naturell India Pvt. Ltd.

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:
Covid-19 Impact:
The unprecedented COVID-19 pandemic in 2020 profoundly affected the food industry. Covid-19 has considerably impacted the global food supply chain phases involving high protein snacks production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments.

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the food industries as well. The COVID-19 pandemic is upending life, and the food sector is seeing increased trends like high protein snacks. The food businesses are launching innovative programs, including high protein snacks, which are readily available and straightforward to consume.

Why Purchase the Report?
• To visualize the global high protein snacks market segmentation based on type, source, distribution channel, and region and understand vital commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of high protein snacks market-level with all segments.
• The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of critical products of all the major market players.
The Global High Protein Snacks Market report would provide approximately 61 tables, 59 figures and 165 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies