Health Snack Food Production in Australia - Industry Market Research Report

Health Snack Food Production in Australia - Industry Market Research Report

Health Snack Food Production in Australia

Health snack food producers have benefited from mounting health consciousness among Australians in recent years. As consumers are increasingly turning to snacking rather than eating full meals, industry revenue has been growing over the period. Additionally, consumer concerns about obesity and their time-constrained lifestyles have further contributed to rising demand for convenient, healthy snacks. Industry revenue is expected to rise at an annualised 2.3% over the five years through 2022-23, to a total of $2.2 billion. Higher household disposable incomes have encouraged high-priced snack purchases. However, revenue growth is expected to slow to 1.1% in 2022-23, as rising inflation and interest rates eat into disposable incomes.

Companies in the industry produce healthy snack foods that have high nutritional value, like protein bars, muesli bars and dried fruit and nuts. The industry excludes supplement foods and low-fat, low-sugar variations of traditional snacks.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.