Global Protein Snacks Market

Report ID : 1396 | Published : 2022-10-11 | Pages: | Format: PDF/EXCEL

The market size of the global Protein Snacks market in the year 2021 is valued at 3.63 billion and is predicted to reach 9.14 billion by the year 2030 at an 11.15% CAGR during the forecast period.

High-quality protein snacks can be made from various sources, including poultry, fish, beef, and lentils, and plant-based sources like seeds and lentils fortified with protein. The primary health advantages of excessive intake include rapid and sustained weight loss, improved blood glucose levels, and a decreased risk of hypertension. The demand for protein snacks is expected to rise as consumers become more conscious of developing chronic health problems, including obesity and heart illnesses resulting from consuming unhealthy food products. The market's accessibility of plant-based and meat-based protein snacks, which cater to the dietary choices of various populations, is also anticipated to accelerate the uptake of protein snacks. The market share for protein snacks is expected to grow significantly since foods high in protein offer anti-ageing properties and give consumers in the geriatric population energy. In the upcoming days, the demand for protein snacks is expected to increase as millennial consumers taste products made from naturally produced and organic ingredients and with the highest nutritional value increases.

The global market for protein snacks is expected to grow due to the increasing demand for protein snack options, such as protein bars and powder. However, protein snack sales are projected to decline due to the high production costs, which increase the end product's price. Additionally, the expansion of the protein snacks industry is projected to be hampered by intense cost competition between small- and large-scale manufacturers.

Market Segmentation:

The Protein Snacks market is segmented on the product type and sales channel. Based on product type, the market is segmented into Protein Bars, Protein Cookies, Protein Flakes, Jerky, Granola, Yogurt, Protein Frinks and Others. Based on sales channel,  Protein Snacks are segmented into E-commerce, Hypermarkets/Supermarkets, Convenience Stores and Specialty Stores.

Based on product type, the protein bars segment is accounted as a significant contributor to the Protein Snacks market.

In revenue share in 2021, the segment for protein bars came in first. This is due to consumers' growing preference for portable convenience foods. Additionally, the continued popularity of fitness trends drives demand for protein bars. This results from customers choosing these wholesome goods that can offer a balanced diet as part of weight management programs. Additionally, protein bars, rather than completing meals, boost daily protein intake while lowering calorie intake from unneeded sources, increasing the number of vital proteins and nutrients and, in turn, boosting market revenue growth.

The e-commerce segment witnessed growth at a rapid rate.

In 2021, the E-commerce segment contributed a sizeable portion of total income. Since they recognize channel potential, manufacturers are opening online storefronts to meet consumer wants better while boosting profit margins. To accommodate the increase in e-commerce demand, companies that operate as sales channels, such as Amazon, Walmart, NuGO Natures Basket, and many more, have grown their direct-to-consumer businesses. Due to COVID-19's stay-at-home orders, which lasted for about a year and a half, e-commerce stores have become a viable choice for most purchase types worldwide.

The North American Protein Snacks market holds a significant regional revenue share.

The North American Protein Snacks market is expected to register the highest market share in revenue in the near future. As consumers' attention has switched to eating wholesome snacks to reduce the health hazards associated with excessive unhealthy snacking, the market for protein snacks is anticipated to increase in the United States. Convenience stores are collaborating with delivery firms to strengthen their online presence. To reach a larger worldwide audience and increase consumer awareness of the benefits of the products, businesses are showcasing their product lines on e-commerce sites other than retail institutions, which is predicted to increase sales of protein snacks. In addition, Asia Pacific is projected to grow rapidly in the global Protein Snacks market. This region's sales of protein snacks are predicted to rise due to the rising awareness of the advantages of healthy snacking and the influence of the western lifestyle. The popularity of protein snacks is anticipated to increase due to ongoing research and development efforts to steadily improve the flavour and texture of protein-based food products while keeping the pricing low. Therefore, it is projected that the availability of worldwide brands in the regional market and the rise of new essential players in this region will drive up demand for protein snacks.

Competitive Landscape

Some major key players in the Protein Snacks market are Del Monte Foods, Inc, B&G Foods, Inc., PepsiCo. Hormal Foods Corporation, Unilever, Kellogg Co., Nestle, Danone, Monsoom Harvest Tyson Foods, Inc., and Clif Bar & Company.

Chapter 1. Methodology and Scope

1.1. Research Methodology

1.2. Research Scope & Assumptions

Chapter 2. Executive Summary

Chapter 3. Global Protein Snacks Market Snapshot

Chapter 4. Global Protein Snacks Market Variables, Trends & Scope

4.1. Market Segmentation & Scope

4.2. Drivers

4.3. Challenges

4.4. Trends

4.5. Investment and Funding Analysis

4.6. Industry Analysis – Porter’s Five Forces Analysis

4.7. Competitive Landscape & Market Share Analysis

4.8. Impact of Covid-19 Analysis

Chapter 5. Market Segmentation 1: by Product Type Estimates & Trend Analysis

5.1. by Product Type & Market Share, 2019 & 2030

5.2. Market Size (Value (US$ Mn) & Volume (no. of units) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Product Type:

5.2.1. Protein Bars

5.2.2. Protein Cookies

5.2.3. Protein Flakes

5.2.4. Jerky

5.2.5. Granola

5.2.6. Yogurt

5.2.7. Protein Drinks

5.2.8. Others

Chapter 6. Market Segmentation 2: by Sales Channel Estimates & Trend Analysis

6.1. by Sales Channel & Market Share, 2019 & 2030

6.2. Market Size (Value (US$ Mn) & Volume (no. of units) & Forecasts and Trend Analyses, 2019 to 2030 for the following by Sales Channel:

6.2.1. E-commerce

6.2.2. Hypermarkets/ Supermarkets

6.2.3. Convenience Stores

6.2.4. Specialty Stores

Chapter 7. Protein Snacks Market Segmentation 3: Regional Estimates & Trend Analysis

7.1. North America

7.1.1. North America Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2030

7.1.2. North America Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by Sales Channel, 2019-2030

7.1.3. North America Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.2. Europe

7.2.1. Europe Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2030

7.2.2. Europe Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by Sales Channel, 2019-2030

7.2.3. Europe Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.3. Asia Pacific

7.3.1. Asia Pacific Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2030

7.3.2. Asia Pacific Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by Sales Channel, 2019-2030

7.3.3. Asia Pacific Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.4. Latin America

7.4.1. Latin America Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2030

7.4.2. Latin America Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by Sales Channel, 2019-2030

7.4.3. Latin America Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

7.5. Middle East & Africa

7.5.1. Middle East & Africa Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by Product Type, 2019-2030

7.5.2. Middle East & Africa Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by Sales Channel, 2019-2030

7.5.3. Middle East & Africa Protein Snacks Market Revenue (US$ Million) Estimates and Forecasts by country, 2019-2030

Chapter 8. Competitive Landscape

8.1. Major Mergers and Acquisitions/Strategic Alliances

8.2. Company Profiles

8.2.1. Del Monte Foods, Inc

8.2.2. B&G Foods, Inc.

8.2.3. PepsiCo.

8.2.4. Hormal Foods Corporation

8.2.5. Unilever

8.2.6. Kellogg Co.

8.2.7. Nestle

8.2.8. Danone

8.2.9. Monsoom Harvest Tyson Foods, Inc.

8.2.10. Clif Bar & Company

8.2.11. Other Prominent Players

Segmentation of Protein Snacks Market-

By Product Type-

  • Protein Bars
  • Protein Cookies
  • Protein Flakes
  • Jerky
  • Granola
  • Yogurt
  • Protein Drinks
  • Others

By Sales Channel-

  • E-commerce
  • Hypermarkets/ Supermarkets
  • Convenience Stores
  • Specialty Stores

By Region-

North America-

  • The US
  • Canada
  • Mexico

Europe-

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific-

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America-

  • Brazil
  • Argentina
  • Rest of Latin America

 Middle East & Africa-

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa

InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.

Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.

Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.

Secondary research

The secondary research sources that are typically mentioned to include, but are not limited to:

  • Company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings.
  • External and internal proprietary databases, regulatory databases, and relevant patent analysis
  • Statistical databases, National government documents, and market reports
  • Press releases, news articles, and webcasts specific to the companies operating in the market

The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista

Primary Research:

Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies

The contributors who typically take part in such a course include, but are not limited to: 

  • Industry participants: CEOs, CBO, CMO, VPs, marketing/ type managers, corporate strategy managers, and national sales managers, technical personnel, purchasing managers, resellers, and distributors.
  • Outside experts: Valuation experts, Investment bankers, research analysts specializing in specific markets
  • Key opinion leaders (KOLs) specializing in unique areas corresponding to various industry verticals
  • End-users: Vary mainly depending upon the market

Data Modeling and Analysis:

In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.

The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.

To know more about the research methodology used for this study, kindly contact us/click here.

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