High Protein Snacks: Market outlook
The growing health and wellness trend has created strong demand for functional and fortified food and beverages significantly over the past years. The high protein snacks are protein fortified snacking options which have potential functional benefits for consumers. The high protein snacks are derived from animal-based or plant-based protein sources and made into on-the-go snacks to cater the consumers need for a round-the-clock snacking option.
Growing Snacking Trend and Increasing Consumer Demand for Healthy Protein Rich Diet is Paving the Path for High Protein Snacks
Snowballing urbanization and industrialization have resulted in the busy and hectic lifestyles of consumers. This hectic lifestyle has given rise to new eating habits that are unlike the normal three-square-meals eaten at the family table. Consumers are spinning towards round-the-clock snacking every time hunger strikes. However, consumers are also becoming more thoughtful about their snacking choices. They are opting for healthier snacks containing nutritious and natural ingredients, free-from claims and labels that are beneficial to their health and wellness. Thus, the consumers are turning towards protein fortified high protein snacks to mitigate their hunger. Healthy snacking is a growing food trend. Today, an ever-increasing number of snack bases are made with nuts, fruits, vegetables, beans, seeds, or combinations, to provide more protein and fiber to consumers, and offer healthy high protein snacks to the consumers. Besides, the consumers are preferring higher protein snacks as they fulfill the basic nutrition needs of the body, provides energy, cuts down the excesses fats and cholesterol, and also keeps individual satiated for longer.
Global High Protein Snacks: Market Segmentation
On the basis of product type, the global high protein snacks market has been segmented as-
- Protein Bars and Balls
- Processed Meat Snacks (Jerky, Sticks and Bars)
- Chips, Crisps, & Pretzels
- Breakfast Cereals (Protein Flakes & Granola)
- Bakery Products
On the basis of nature, the global high protein snacks market has been segmented as-
- Conventional high protein snacks
- Organic high protein snacks
On the basis of source, the global high protein snacks market has been segmented as-
- Animal Based high protein snacks
- Plant Based high protein snacks
On the basis of distribution channel, the global high protein snacks market has been segmented as-
- Store-based Retailing
- Convenience Stores
- Mom And Pop Stores
- Discount Stores
- Food & Drink Specialty Stores
- Independent Small Groceries
- Online retailing
On the basis of region, the global high protein snacks market has been segmented as-
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Global High Protein Snacks: Key Players
Some of the major players of high protein snacks market include: Vitaco health Australia Pty Ltd., Small Planet Foods, Inc., Quest Nutrition LLC, The WhiteWave Foods Company, Clif Bar & Company, Powerful Men LLC, Kellogg Co., Buff Bake, YouBar Manufacturing Company, General Mills, Inc., Premier Nutrition Corporation, Naturell Inc., Bakery Barn, Inc., Bounce Foods ltd., Good Full Stop Ltd., Kashi Company, Hormel Foods Corporation, PowerBar, Inc., Iovate Health Sciences Inc., and TruFoodMfg Company
Key Takeaways: High Protein Snacks
- In 2018, Optimum Nutrition, a sports nutrition brand launched two high protein snacks namely ON Peanut Butter Chocolate protein and ON Protein Almonds cake bites in U.S to target health and wellness conscious demographics of the country.
- In 2018, Quest Nutrition, launched Protein Chips based on Tortilla Style. The savory snacks feature at least nine times the protein of normal chips, and nearly 75 % lower net carbs, according to the company.
- In 2016, Mars launched two protein bars under its Mars and Snickers brands in the UK, to cater the growing demand for high protein snack bars from the consumers.
Opportunities for Participants of High Protein Snacks Market:
Regions like North America and Western Europe are anticipated to have an increasing demand for high protein snacks due to increasing health and wellness conscious population and growing snacking trend among the consumers. Protein fortified food industry in North America and Europe is witnessing bolstering demand which is providing new growth opportunity for the high protein snacks market in the region. Besides, Asia Pacific is expected to have a growing market for high protein snacks. This can be attributed to raising awareness amongst consumers regarding nutritious and high protein content products, and increasing per capita expenditure on food and beverages in countries such as China, India, and ASEAN.
Manufacturers are trying to make products more nutritious, following the protein trend in food. Consumer awareness regarding better ways to pull off weight loss, anti-aging, and other health-related issues through the consumption of naturally sourced protein is compelling many manufacturers to offer high protein snacks with health benefits. Innovations in high protein snacks are expanding the consumer base even from the health-conscious community. Other trends such as the demand for organic and naturally sourced ingredients are also trending in the snacks industry resulting in the growing demand for organic high protein snacks. Manufacturers are well aware of the altering consumer trend and growing preference towards plant-based products and healthier lifestyle, and hence, are trying to update their inventories with more and more plant-based high protein snacks.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.