The market for protein snacks has expanded dramatically in recent years as a result of shifting consumer preferences toward healthier lifestyles and growing awareness of the importance of protein for maintaining overall health.
Newark, Feb. 29, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 4.8 billion in 2023 protein snacks market will reach USD 11.1 billion by 2033. Protein snacks have become more and more popular among customers who are concerned about their health and are looking for quick, wholesome snacks to complement their active lifestyles. The high protein content of these snacks contributes to overall wellness, weight management, and muscle rehabilitation. As a result, the demand for protein snacks has expanded significantly, offering a large selection of goods to suit different dietary requirements and preferences.
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Key Insight of the Protein Snacks Market
Asia Pacific is anticipated to expand at the fastest CAGR of 11.2% over the projection period.
Asia Pacific is expected to grow at the fastest CAGR of 11.2% over the forecast period. The market for protein snacks worldwide has seen significant growth and development in the Asia-Pacific area. Several variables, including as shifting dietary preferences, rising health consciousness, and increased recognition of the significance of protein in nutrition, impact this market in this region. Dietary and lifestyle changes are a result of the Asia-Pacific region’s swift urbanization and economic expansion. This change has added to the growing need for quick, healthful snack options, such as protein snacks.
In the protein snacks market, the protein drinks segment is anticipated to expand at the highest CAGR of 12.4% over the projection period.
The protein drinks segment is anticipated to expand at the highest CAGR of 12.4% over the projection period. Common protein drinks are protein shakes, which come in a variety of combinations. Whey protein drinks, plant-based protein shakes made with pea, soy, or rice protein, and mixed protein mixes are a few examples of these. Additionally, a lot of protein beverages are designed to have a high protein content but a low total calorie count. This is appealing to people who are looking for protein supplements without consuming too many calories, especially those who are trying to gain muscle and lose weight.
In the protein snacks market, the plant-based protein segment is anticipated to expand at the highest CAGR of 15.3% over the projection period.
The plant-based protein segment is anticipated to expand at the highest CAGR of 15.3% over the projection period. Plant-based protein snacks offer a high-protein substitute for typical animal-based snacks by utilizing diverse plant sources. Plant protein sources such as rice, quinoa, hemp, chia, lentils, beans, and soy are commonly consumed. Additionally, plant-based jerky has grown in acceptance as a substitute for conventional beef jerky. It provides a chewy and flavourful snack free of animal-derived proteins and is frequently made with soy, mushrooms, or seitan.
In the protein snacks market, the online segment is anticipated to expand at the highest CAGR of 13.8% over the projection period.
The online segment is anticipated to expand at the highest CAGR of 13.8% over the projection period. Protein snacks can be found extensively throughout a range of e-commerce platforms, such as specialized online grocery stores, wellness and health websites, and large e-commerce companies. Customers can peruse and buy protein snacks while lounging in their homes. Additionally, a few businesses in the protein snack industry provide subscription services that let clients get their preferred protein snacks on a regular basis. Subscription models can offer exclusive tastes, discounts, and a practical means for customers to keep a consistent supply.
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Market Dynamics
Driver
Plant-based protein snacks are becoming more and more popular as vegetarian and vegan diets gain traction. Environmental concerns, ethical issues, and the belief that plant-based foods are healthier all contribute to this movement. Additionally, a significant factor propelling the market for protein snacks is ongoing innovation in product development. To accommodate a wide range of consumer preferences, companies are producing a wide range of items, such as protein-enriched versions of classic meals, novel ingredients, and distinctive flavor profiles.
Opportunity
Businesses may access a variety of markets by customizing their protein snack offerings to suit local tastes and cultural norms. Knowing regional inclinations and integrating favored tastes might augment product acceptability throughout diverse locales. Businesses can reach a larger audience and offer simple access to protein snacks by utilizing e-commerce platforms more. Online platforms facilitate subscription services, direct-to-consumer sales, and the acquisition of important consumer data.
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Some of the major players operating in the protein snacks market are:
• Kellogg Co.
• Nestlé
• Danone
• Monsoon Harvest
• Tyson Foods, Inc.
• Clif Bar & Company
• Del Monte Foods, Inc
• B&G Foods, Inc.
• PepsiCo
• Hormel Foods Corporation
• Unilever
Key Segments cover in the market:
By Product Type
• Protein Bars
• Protein Cookies
• Protein Drinks
• Protein Flakes
• Jerky
• Granola
• Yogurt
By Type
• Plant-Based Protein Snacks
• Meat-Based Protein Snacks
By Distribution Channel
• Offline
• Online
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About the report:
The market is analyzed based on value (USD Trillion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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