Low Calorie Snacks Market

The global low calorie snacks market size was valued at $7.6 billion in 2020, and is expected to garner $24.1 billion by 2030, registering a CAGR of 12.3% from 2021 to 2030. In 2020, the savory snacks segment accounted for more than half of the total market share.       

Low calorie snack food are aiding to more specific roles as customers continue to look for ways to balance nutrient-dense, healthy and purposeful snacking with the aim for emotionally satisfying and indulgent snacks, especially when indulgent snacks are of higher quality. Low calorie snacks have the potential to offer several health benefits without impacting the health as it is prepared from natural and free from ingredients. 

Increase in demand and consumption of snacks food in the emerging markets of Asia-Pacific such as India and China has significantly fueled the growth of the global low calorie snacks market. Furthermore, rise in disposable income and change in lifestyle & food habits further boost the snacks market growth. Moreover, rapid increase in number of large retail chains, including hypermarkets and supermarkets, propels the demand for low calorie snacks. In addition, rise in inclination for readymade and convenient food products, increase in spending capacity of people, and growth in demand for organic and conventional snacks food increase the demand for low calorie snacks, thereby accelerating the low calorie snacks market growth. 

However, high cost of production hampers the widespread adoption and acts as a major restraint for the global market. On the contrary, increase in willingness of consumers to buy premium and environment friendly products are expected to provide opportunities for the growth in the coming years.

There is an increase in awareness regarding the importance of food over the years. This is due to significant rise in chronic health issues. Consumers today have adopted special diet plans to combat the health problem and have even made lifestyle changes to stay fit. One of the notable changes parallel to this trend is use of low calorie snacks products. The reason behind the adoption of low calorie snacks product is that, they do not contain additives and provide far fewer calories than needed to maintain a healthy weight.

Strong global concerns about the pandemic, coronavirus have largely but negatively influenced the global low calorie snacks market. Moreover, due to the high demand and low supply trends, the prices of snacks products increased in 2020 to overcome on economic instability. On the contrary, disruptions to the supply chain in shipping could lead to temporary shortages in the supply, putting upward pressure on prices in the short term.     

According to the low calorie snacks market analysis, the market is segmented on the basis of type, nature, packaging type, distribution channel, and region. By type, it is categorized into sweet snacks, savory snacks, and others. Depending on nature, it is divided into organic, and conventional. Based on packaging type, it is segmented into pouches, cans, jars and others. On the basis of distribution channel, it is segregated into business to business and business to consumer. Further, the business to consumer is segmented into supermarket/hypermarket, specialty stores, online sales, and others. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, Italy, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Indonesia, Sri Lanka, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, the United Arab Emirates, Nigeria, Turkey, South Africa, and rest of LAMEA).   

On the basis of type, the savory snacks segment accounted for the maximum share in the global low calorie snacks market in 2020, and is expected to remain dominant during the low calorie snacks market forecast period. The growing demand for savory snacks in malls and the multiplex sector during entrainment time and increasing expenditure of people for food items drive the growth of the low calorie snack market during the forecast period. Moreover, rise in the young population and the presence of trending food practice are major factors to consume savory snacks in the food and beverage industry.

On the basis of nature, the conventional segment accounted for the maximum share in the global low calorie snacks market in 2020. The popularity of conventional segment has increased in the last few years, owing to improvement in standard of living and the know-how about the benefits of low calorie snacks products, for instance, it is rich in antioxidants such as polyphenols, which majorly include flavonoids and savory snacks.

On the basis of packaging type, the pouches segment held the significant market share in 2020. Pouches were once regarded as the most popular and widely used form of packaging. They tend to be one of the most environmentally friendly and reusable options. There are numerous ways to keep plastic pouches around and reuse them; thereby, making them a beneficial choice for the environment. 

On the basis of distribution channel, the business to consumer segment held a significant low calorie snacks market share in 2020. These channels offer various goods and often act as a one-stop solution for shopping for all everyday requirements. Thus, the channel includes supermarket/hypermarket, convenience store among others, which are preferred while shopping for groceries and everyday edibles. 

On the basis of region, Europe dominated the market in 2020, and accounted for maximum share in low calorie snacks market. The retail channels are developed and widespread throughout Europe. Germany is the largest organic snacks market in the region. With the rise in internet penetration and the option of online food delivery, the market for snacks has increased significantly, which fuels the consumption of such food & beverages. Moreover, development of the tourism sector in this region is providing the road side shops an opportunity to sell snacks products, which can be easily sold and carried with low selling cost and minimum storage cost. Thus, all these factors are positively affecting the growth of the low calorie snacks market in this region.  

Players in the low calorie snacks market have adopted business expansion and product launch as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in the report include Archer Daniels Midland Company, Cargill, Incorporated, Conagra Brands, Inc., Danone, General Mills, Inc., Hain Celestial, Ingredion Incorporated, Mondelez International, Nestle S. A, and The Kraft Heinz Company.

Key benefits for stakeholders  

• The report provides quantitative analysis of the current low calorie snacks market trends, estimations, and dynamics of the market size from 2020 to 2030 to identify the prevailing low calorie snacks market opportunity. 
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis and the market size & segmentation assist to determine the market potential.
• The major countries in each region are mapped according to their revenue contribution to the market.    
• The market player positioning segment facilitates benchmarking and provides a clear understanding of the present position of the market players in the low calorie snacks industry. 

Key market segments

By type

• Sweet Snacks
• Savory Snacks
• Others
• Nature
• Organic
• Conventional

By Packaging type

• Pouches
• Can
• Jars
• Others

By Distribution Channel

• Business to Business
• Business to Consumer
• Hypermarket/supermarket
• Specialty Stores
• Online Sales
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany 
  • France
  • UK
  • Italy
  • Spain 
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • Australia
  • South Korea
  • Indonesia
  • Sri Lanka
  • Rest of Asia-Pacific 
• LAMEA 
  • Brazil
  • Argentina
  • UAE
  • Turkey
  • Nigeria
  • South Africa 
  • Rest of LAMEA

 Low Calorie Snacks Market Report Highlights