High Protein Snacks Market Size, Share, Industry, Forecast and outlook (2024-2031)

High Protein Snacks Market Size

Global High Protein Snacks Market reached USD 92.3 billion in 2022 and is expected to reach USD 144.9 billion by 2031 growing with a CAGR of 5.8% during the forecast period 2024-2031. The increasing health awareness among people is driving them towards healthy food habits, causing the growth of the high-protein snacks market.

There is a constant evolution in consumption patterns and an inclination towards healthy food products among consumers. The key health-related advantages of protein-rich snacks include accelerated and sustained weight loss, improved blood glucose levels, and decreased risk of developing hypertension. All these health benefits are increasing the high-protein snacks market demand. Nowadays, consumers are opting for convenient and affordable snacks for their daily nutritional needs. 

The rise in disposable income amongst the middle-class population, along with the availability of foreign brands in the markets of developing economies, is likely to surge the demand for high protein snacks. There is an increased release of new food and beverage products with enriched protein. For instance, in September 2020, Coca-Cola launched its strawberry-flavored milkshakes enriched with protein under its product CorePower.

Market Scope

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Market Dynamics

Increasing Demand for Healthy Food Options Drives the Growth of the Global High Protein Market

Consumers' increasing demand for functional foods to maintain overall health and reduce the risk of certain lifestyle-related chronic health conditions drives the market growth. Food products that are enriched with functional ingredients such as proteins, fiber, micronutrients, and plant-based ingredients are now attracting people’s healthier choices. 

The rising choice of functional foods with weight management benefits, improving digestive health, and reducing the risk of obesity, diabetes, and cardiovascular diseases drives the market growth of healthy snacks. Today, an ever-increasing number of snack bases, such as protein chips, protein cookies, and protein balls, 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 consumers.

Increasing Snacking Habits are Driving High Protein Snacks Market Growth.

The growing popularity of convenience, ready-to-eat foods, and on-the-go snacking is a significant factor in the growth of the healthy snacks market. Ready-to-eat food products provide quick nutrition and the feeling of fullness in a busy schedule. According to a recently released ‘state of snacking’ report by Mondelēz International, approximately 59% of adults worldwide prefer to eat more small meals throughout the day, as opposed to a few larger ones.

Consumers' awareness regarding snacks as part of a healthy diet is attributed to their controlled portions. The protein-rich snacks are convenient and provide a person with sufficient energy during a hectic workday. The evolution of the snack industry is contributed by offering various healthy snack products. These products are supposed to fulfill the growing need for on-the-go nutrition. Protein snack bars, protein crackers, and protein popcorn are attracting people’s focus.

Processing-Related Issues for High Protein Snacks Restrain the Market Growth

The texture and crispiness are the crucial characteristics of any snack. Reducing fats & sugar and incorporating whole grains negatively impact the moisture retention and binding capacity of ingredients, affecting the final product’s texture. The high protein snacks market is hampered by challenges faced by manufacturers while processing these snacks.

The development of clean-label snacks can also be a more significant challenge in producing high-protein snacks as need to be in proper labeling such as additive-free and preservative-free products. Some of the additives are needed for the proper final product production. Without ingredients that support emulsification, stabilization, and creamy texture perfect final product can be prepared, which is restraining the market growth.

Market Segment Analysis 

The global high protein snacks market is segmented based on type, source, distribution channel, and region.

In the Global High Protein Snacks Market, the Plant-Based Segment Holds the Largest Market Share. 

The global high-protein snacks market has been segmented by source into plant-based and animal-based. In the high protein snacks market analysis report, the plant-based segment held the largest high protein snacks market share of 53.4% in 2022. The rising vegan population and increased demand for plant-based foods drive the market’s growth.

The segment’s growth is facilitated by the rising vegan population, increased awareness about the adverse health effects of animal meat among people, product launches, and consumer accessibility for products worldwide. For instance, Kellogg, an American multinational food manufacturing company, launched a new cereal-based snack range, Jumbo Snax. This new product line is incorporated with various healthy ingredients, including corn pops, fruit loops, tiger paws, and apple jacks.

Market Geographical Share

The North America Held the Largest Share of the High Protein Snacks Market.

The global high protein snacks market is segmented into five parts based on geography: North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. The North American high protein snacks market held the largest market share of 38.6% in 2022 in the high protein snacks market analysis. Increasing healthy lifestyle approaches is driving the market in this region.

The increasing prevalence of lifestyle-related health conditions such as obesity & diabetes, increasing demand for healthier foods, rising health awareness, hectic daily schedules, rising mental stress, and positive attitude towards preventive measures drive the demand for high protein snacks in the regional market.

Market Key Players

The major global players in the market include General Mills Inc, Buff Bake, Clif Bar & Company, Vitaco Health, Bounce Foods Ltd, Powerful Men LLC, Premier Nutrition Corporation, The WhiteWave Foods Company, Quest Nutrition LLC, and Naturell India Pvt. Ltd.

COVID-19 Impact on Market

Global Recession/Ukraine-Russia War/COVID-19, and Artificial Intelligence Impact Analysis:

The unprecedented COVID-19 pandemic in 2020 profoundly affected the food industry. Covid-19 has considerably impacted the global food supply chain phases involving high protein snacks production, processing, distribution, and consumption due to lockdowns and restrictions imposed by various governments. 

Everything has changed due to the COVID-19 epidemic. It has influenced practically every industry, whether positively or negatively. The COVID-19 pandemic's effects on world economic conditions have had an influence. They could impact interest rates, foreign exchange rates, commodities and energy prices, and the efficient operation of financial and capital markets.

The COVID-19 pandemic issue has had an impact on the food industries as well. The COVID-19 pandemic is upending life, and the food sector is seeing increased trends like high protein snacks. The food businesses are launching innovative programs, including high protein snacks, which are readily available and straightforward to consume.

By Type

• Protein Bars & Balls
• Breakfast Cereals
• Bakery Snacks
• Processed Meat Snacks
• Others

By Source

• Animal-Based
• Plant-Based

By Distribution Channel

• E-Commerce
• Supermarkets & Hypermarkets
• Specialty Stores
• Retail Stores
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In May 2023, Snack House Foods, the innovative snack brand, launched their deliciously crispy BBQ and Loaded Nacho Keto Puffs in YesWay and Allsup’s convenience stores through partner GPO+. The high-protein, low-carb, and gluten-free Keto Puffs are made with premium ingredients.
• In Nov 2022, Marico, one of India’s leading FMCG companies, expanded its plant-based protein portfolio by launching Saffola Soya Bhurji. This delicious, protein-rich snack can be prepared in just 5 minutes. This latest innovation is in line with Marico’s aim to strengthen its foothold in both the healthy foods and ready-to-cook segment in India with products that cater to the needs of consumers today.
• In June 2021, RXBAR, which is a subsidiary of Kellogg, launched its first-ever plant-based offering. RXBAR Plant has 10 grams of protein and replaces the brand’s signature egg white protein with pea and almond protein. Flavours include peanut butter and chocolate chip.

Why Purchase the Report?

• To visualize the global high protein snacks market segmentation based on type, source, distribution channel, and region and understand key commercial assets and players.
• Identify commercial opportunities in the market by analyzing trends and co-development.
• Excel data sheet with numerous data points of high protein snacks market-level with all segments.
• The PDF report includes a comprehensive market analysis after exhaustive qualitative interviews and an in-depth market study.
• Product mapping is available as Excel consists of key products of all the major market players.

The Global High Protein Snacks Market report would provide approximately 61 tables, 59 figures and 165 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies