Low Calorie Snack Foods Market Overview
With blurring mealtimes as consumers are moving away from the rigidity of dinner and lunch there is an increase in the low calorie snack foods market. Moreover, consumers are not only looking for ordinary snacks, but want an added benefit to it.
There is an increasing demand for snacks that are high in protein such as quinoa chips, high in vitamins e.g. fruit crisps/ dehydrated vegetables and also addition of superfoods such as matcha, maca, yerba matte to anything from kale chips to protein balls. Additionally, there is also a rising demand for organic, vegan, high protein, air popped faba beans snacks in flavors such as pizza and BBQ.
The low calorie snack foods market have seen an upsurge in the market recently due to the dietary changes at the consumer end. Low calorie consumption has become quite a requisite for all the consumers as the physical activity of the majority of the population has decreased which consecutively creates a market for low calorie snack foods in the forecast period.
Several companies of the low calorie snack foods market have started to launch various new products or re-launching old products that are low calorie snack foods which in turn has boosted the market for low calorie snack foods market in the forecast period. For instance,
- In 2014, Nestlé S.A., a global company and one of the major player in the low calorie snack foods market, with its subsidiary Nestlé Australia’s Allen’s brand had reduced the calories in its famous product Killer Python which is preferred among children. This move was an effort from the company to reduce the number of calories children consume preserving. This led to the rise in the growing demand in the low calorie snack foods market.
The key factor for the rise of low calorie snack foods is the busy lifestyle of the consumers. Moreover, due to their busy and hectic lifestyle individual prefer to eat low calorie snack foods which are healthy too. Additionally, increasing health conscious parents has led to upsurge the market for low calorie snack foods.
- For instance-InBrazil, Nestle had launched Ninho in 2019 which is a plant based ready-to-drink product for children that is one of the popular low calorie snack foods.
Low calorie snack foods are aiding to more specific roles in food lives as customers continue to look for ways to balance nutrient-dense, healthy and purposeful snacking with the aimfor emotionally satisfying and indulgent snacks, especially when indulgent snacks are of higher quality.
Increased Consumption of Baked Snacks and extended shelf-life has boosted the Market for Low Calorie Snack Foods
The market is attributed to the widespread consumption of baked snacks as a result of urbanization. Moreover, as baked snacks especially cookies are the most desirable snacks from both elderly and young population due to factors such as extended shelf-life and low manufacturing cost, is driving the market growth.
Additionally, nowadays consumers are more concerned about their health and are demanding products conferring health benefits with low sugar content, high dietary fibres, proteins and reduced calories. These factors are also responsible for low calorie snack foods market growth.
Advances in ingredients innovations and bakery processing technologies had led to significant shelf-life expansion as extended shelf life is an effort to make food safe for long periods, whilst preserving its original quality.
Manufacturers nowadays uses various different ingredients and processes to extend product shelf life such as using adequate packing materials and methods, controlling moisture content by optimum baking and cooling conditions. Manufacturers of various companies are also using emulsifiers such as lecithin to slow the rate of firming over time.
Texture differences and flavor combinations play a crucial role in the growth of the low calorie snack foods market. The increasing demand for new flavors and unique twists on old favorites are the primary reasons for the escalating demand for low calorie snack foods market. Producers utilize attractive packaging techniques mentioning clean labels and the product being non-GMO and Kosher certified that help potential customers to understand if the product is right for them or not.
- For instance, In 2019, ITC with its brand Bingo had launched “Bingo! Starters” a baked chip to compete with the fried chips already present in the low calorie snack foods market.
Rising Hyper-markets boom is Driving Low calorie snack foods Market
With increasing awareness companies are ensuring that the products are easily accessible to the consumers to procure from online channel or hypermarkets and supermarkets. Earlier, food and beverages would be purchased from nearby available stores. However, in the past one decade, there is a rise in hypermarkets especially in urban areas, wherein it’s easily accessible to the consumers to find everything new that has arrived.
Supermarkets are continuously expanding their food brands in health and fitness, and making it more difficult for other custom-made professionals to compete, which is encouraging them to stock products that are not found elsewhere, including training staff to be experts on these products which in turn is increasing the demand for low calorie snack foods in the market.
Low Calorie Snack Foods Market: Key Players
Some of the key players operating in the global low calorie snack foods market are
- Kind LLC
- Bach Snacks
- General Mills Inc.
- Welch Foods Inc.
- Hunter Foods L.L.C.
- Nestlé S.A.
- The Kraft Heinz Company
- Mondel?z International
- Conagra Brands
For attaining credibility and claiming the quality of the product and production process, manufacturers are focusing on achieving certification from authorized institutions such as FSSAI, US FDA, USDA. These claims and certifications are showcased on the packaging of the product that assists the consumer to differentiate the product from others and hence select the appropriate product.
In the low calorie snack foods market various companies have launched products after seeing the market demands from the consumers. For instance,
- In the year 2018, Kind LLC, a US-based company launched Kind Minis which were to cater to the consumers that demanded low calorie snack foods
Low Calorie Snack Foods Market: Regional Analysis
North America has a significant amount of share in the global low calorie snack foods market. The country US extents to have a larger share in low calorie snack foods market than other countries in the world due to numerous global companies established there such as The Kraft Heinz Company, Mondel?z International, Conagra Brands and others.
Latin America also has a growing market of low calorie snack foods due to the upsurge of the market demand in turn which has extended to form many new startups such as,
- Gricha, a Mexican based company founded in 2015 that produces snacks that have rich proteins in them extracted from Mexican insects which helps in poor eating habits and foods insecurity.
The low calorie snack foods market report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the low calorie snack foods market, including but not limited to: Regional markets, type, packaging type and distribution channel.
The study is a source of reliable data on
- Low calorie snack foods market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- The Middle East and Africa (GCC, Southern Africa, and North Africa)
The low calorie snack foods market report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases).
The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators and regulations and mandates is included under the purview of the study. By doing so, the low calorie snack foods market report projects the attractiveness of each major segment over the forecast period.
Low Calorie Snack Foods: Market Segmentation
On the basis of Product Type:
- Fruit Snacks
On the basis of Claims:
- High Fiber
- High Protein
On the basis of Packaging:
On the basis of Distribution Channel:
- Specialty Stores
- Convenience Stores
- Online Retail
- Other Retail Channels
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