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Healthy Snack Market Overview
A healthy snack is a nourishing food that’s carefully portioned and doesn’t go through much processing. Typically, it contains a good mix of important nutrients like vitamins, minerals, fiber, and protein while not packing in too many calories, added sugars, or bad fats.
Healthy snacks come in lots of different choices to suit various diets and personal preferences. They’re a handy option for folks with hectic schedules and keep up with the changing tastes of consumers in the food industry.
Market Drivers
The worldwide healthy snack market is flourishing thanks to rising health awareness, obesity concerns, and busy lifestyles, all fueling the need for convenient and nutritious snacks. Consumers are increasingly looking for natural and organic ingredients, driving manufacturers to innovate with diverse dietary options.
The growth is also supported by expanded retail availability and government efforts to promote healthier eating. Furthermore, global food trends and urbanization have boosted the appeal of healthy snacks, making it a promising segment in the food industry.
Market Size
In 2022, the global healthy snack market was worth USD 84.4 billion, and it’s projected to reach approximately USD 142.6 billion by 2032. The period from 2023 to 2032 is expected to see the market achieve its highest compound annual growth rate (CAGR) at 5.5%.
List of Major Companies
These are the top ten companies operating in the Snacks Market:
General-Mills
Company Overview
| Establishment Year | 1856 |
| Headquarter | Golden Valley, Minnesota, U.S. |
| Key Management | Jeffrey Harmening (Chairman & CEO) |
| Revenue (US$ Bn) | $ 17.6 Billion (2020) |
| Headcount | ~ 35,000 (2020) |
| Website | http://www.generalmills.com/ |
About General Mills
General Mills, a significant player in healthy snacks, is based in Minnesota. They’re well-known for brands like Nature Valley, Larabar, and Fiber One, offering nourishing and convenient options such as granola bars, fruit and nut bars, and high-fiber choices.
These snacks are favored by health-conscious consumers who value their straightforward, wholesome ingredients. General Mills emphasizes wellness and sustainability, using innovation to adapt to changing consumer preferences. With a global presence, their healthy snacks are accessible worldwide.
Geographical Presence
General Mills, headquartered in Minneapolis, USA, holds a significant position in North America, particularly in cereals, snacks, and baking items. It also maintains a strong presence in key European countries like the United Kingdom, France, Germany, and Spain.
In the Asia-Pacific region, including China, Japan, India, and Australia, the company customizes its food products to align with local preferences. In Latin America, covering Mexico, Brazil, and Argentina, General Mills adapts its offerings to suit regional tastes. While its impact in Africa and the Middle East is limited, the company has strategically entered markets such as South Africa and the United Arab Emirates.
Recent Developments
- In July 2022, General Mills completed the sale of its Suddenly Salad side dishes units and Helper main meals to Eagle Family Foods Group.
- In June 2022, General Mills acquired TNT Crust, a company known for producing premium frozen pizza crusts for food service distributors, pizza chains, and retail stores.
PepsiCo
Company Overview
| Establishment Year | 1898 |
| Headquarter | Harrison, New York, U.S. |
| Key Management | Ramon Laguarta (Chairman & CEO) |
| Revenue (US$ Bn) | $ 86.4 Billion (2022) |
| Headcount | ~ 315,000 (2022) |
| Website | http://pepsico.com/ |
About PepsiCo
PepsiCo, based in Purchase, New York, is a major contender in the healthy snack sector. They possess well-recognized names like Frito-Lay, Quaker Oats, and Sabra, celebrated for their products such as baked chips, oatmeal, and hummus, all centered around healthier components.
PepsiCo’s unwavering dedication to advocating for well-being, nurturing creativity, and supporting sustainability is evident. Their global reach allows them to serve various markets and cater to regional preferences, exerting a substantial influence on the ever-changing landscape of nutritious snacks.
Geographical Presence
PepsiCo, Inc. has a strong global presence, with operations in North America, Europe (including key countries like the UK, France, Germany, and Spain), the Asia-Pacific region (including China, Japan, India, and Australia), and Latin America (covering Mexico, Brazil, and Argentina).
While their reach in Africa and the Middle East is more limited, they strategically enter markets like South Africa and the United Arab Emirates. This extensive geographical presence allows PepsiCo to serve diverse markets and adapt to regional preferences.
Recent Developments
- In August 2023, PepsiCo Beverages North America (PBNA) pledged financial support for the SRP Resilient Project in the Verde River watershed, a vital water source in Arizona.
- In August 2023, PepsiCo and the PepsiCo Foundation joined forces with local organizations to aid wildfire-affected communities in Maui, Hawaii. They provided essential resources such as meals and water to support relief efforts.
Nestle
Company Overview
| Establishment Year | 1866 |
| Headquarter | Vevey, Vaud, Switzerland |
| Key Management | Paul Bulcke (Chairman) |
| Revenue (US$ Bn) | $ 98.9 Billion (2023) |
| Headcount | ~ 275,000 (2023) |
| Website | http://nestle.com/ |
About Nestlé
Nestlé S.A. is a prominent player in the healthy snack industry, known for offering a variety of nutritious and convenient snack options. Headquartered in Switzerland, Nestlé owns brands like Nature’s Heart, A2 Naturals, and Nestlé Health Science, all of which cater to health-conscious consumers. These brands provide snacks such as dried fruits, nuts, nut butter, and trail mixes, emphasizing clean ingredients and nutritional benefits.
Nestlé is dedicated to promoting health and wellness through its products, focusing on innovation and sustainability. With a global presence, Nestlé ensures that its healthy snack offerings are available worldwide, making a significant impact on the evolving landscape of nutritious snacking.
Geographical Presence
Nestlé, one of the world’s largest consumer goods companies, has a vast global presence. It operates in key regions, including Europe (its headquarters), North America, the Asia-Pacific, Latin America, Africa, and the Middle East.
In these regions, Nestlé offers a diverse range of products like dairy, confectionery, coffee, and infant nutrition, tailored to local tastes and preferences.
Recent Development
- In September 2023, Nestlé introduced a range of delicious and nutritious millet-based porridges under the a+ Masala brand.
- In August 2023, Nestlé introduced vegan-certified Maggi Veg shelf-stable plant-based cooking options in Chile.
Hershey
Company Overview
| Establishment Year | 1894 |
| Headquarter | Hershey, Pennsylvania, U.S. |
| Key Management | Michele Buck (Chairman, President & CEO) |
| Revenue (US$ Bn) | $8.9 Billion (2021) |
| Headcount | ~ 16,620 (2021) |
| Website | https://www.thehersheycompany.com/en_us/home.html |
About Hershey
Based in Hershey, Pennsylvania, The Hershey Company is a prominent player in the healthy snack industry, known for its expansion beyond chocolates and sweets. They offer healthier alternatives like KRAVE for protein snacks and BarkTHINS with dark chocolate and wholesome ingredients.
Recognizing the demand for healthier options, Hershey prioritizes better ingredients and portion sizes. With a global presence, they reach diverse markets, address local preferences, and emphasize sustainability in their operations.
Geographical Presence
The Hershey Company, a major player in the confectionery industry, is globally present. Based in Hershey, Pennsylvania, USA, it operates in North America, including the United States and Canada.
The company has also strategically extended its reach to international markets, including Europe, Asia, and Latin America.
Recent Developments
- In November 2022, the Hershey Company intended to build a 250,000-square-foot chocolate facility in Hershey, Pennsylvania, pending final planning approvals. This facility will boost production for popular candy brands such as Reese’s, Kit Kat, and Hershey’s.
- In June 2022, the Hershey Company gifted the Hershey Theatre to The M.S. Hershey Foundation.
Mondelez
Company Overview
| Establishment Year | 1923 |
| Headquarter | Chicago, Illinois, United States |
| Key Management | Dirk Van de Put (Chairman and CEO) |
| Revenue (US$ Bn) | $28.7 B (2021) |
| Headcount | ~ 79,000 (2021) |
| Website | http://mondelezinternational.com/ |
About Mondelez International
Mondelez International, Inc., headquartered in Chicago, Illinois, is a significant player in the healthy snack industry. Their portfolio includes brands such as belVita, Triscuit, and Good Thins, offering nutritious and convenient snacks made from whole grains and straightforward ingredients.
Mondelez International is dedicated to promoting well-being and sustainability through its products and innovations. With a global reach, they make their healthier snacks accessible to diverse markets, addressing local tastes and dietary preferences.
Geographical Presence
Mondelez International, Inc. operates globally, ensuring that its snack products reach consumers across diverse regions and continents.
While headquartered in the United States, the company’s influence extends to North America, including Canada, as well as Europe, the United Kingdom, Asia, and Latin America. It has successfully introduced its snack brands to emerging markets, showcasing a wide geographical presence that caters to a broad and varied global consumer base.
Recent Developments
- In April 2023, Mondelēz launched CoLab Tech, an innovative accelerator program inviting startups to tackle food technology and sustainability challenges.
- In December 2022, Mondelēz confirmed the sale of its gum business in developed markets, including Europe, Canada, and the United States to Perfetti Van Melle Group.
Conagra
Company Overview
| Establishment Year | 1919 |
| Headquarter | Chicago, Illinois, U.S. |
| Key Management | Sean Connolly (CEO) |
| Revenue (US$ Bn) | $ 12.3 Billion (2023) |
| Headcount | ~ 18,600 (2023) |
| Website | https://www.conagrabrands.com/ |
About Conagra Brands
Conagra Brands, Inc., headquartered in Chicago, Illinois, is a significant player in the healthy snack industry. Their portfolio includes brands like Angie’s BOOMCHICKAPOP and Slim Jim, providing nutritious and convenient snacks with simple ingredients.
The company is dedicated to promoting health and wellness through innovation and sustainability efforts. With a global reach, Conagra makes its healthier snacks accessible to diverse markets, addressing local preferences and dietary requirements.
Geographical Presence
Conagra Brands, Inc., a well-established American multinational food company based in Chicago, Illinois, maintains a substantial presence across various regions.
Its snack products are readily available to consumers in numerous states and markets, primarily in the United States. Additionally, Conagra’s influence extends to North America, including Canada, where its snacks enjoy popularity.
Recent Developments
- In January 2024, Dolly Parton partnered with Conagra Brands to create a line of retail food products.
- In June 2023, Conagra Brands introduced a wide range of new products to address mealtime challenges and fulfill cravings.
Mars
Company Overview
| Establishment Year | 1911 |
| Headquarter | McLean, Virginia, U.S. |
| Key Management | John Franklyn Mars (Chairman) |
| Revenue (US$ Bn) | $ 48 Billion (2023) |
| Headcount | ~ 140,000 (2022) |
| Website | https://www.mars.com/ |
About Mars
Mars, Inc. stands as a significant presence in the healthy snack sector, renowned for its nutritious and convenient snack choices. Based in McLean, Virginia, the company possesses brands like Kind and Seeds of Change, providing wholesome snacks that align with the health-conscious preferences of consumers.
Mars is dedicated to advancing health and wellness through its product offerings, emphasizing innovation and sustainability. With a global reach, the company ensures the availability of its healthier snacks across diverse markets, addressing local tastes and dietary requirements.
Geographical Presence
Headquartered in McLean, Virginia, Mars, Inc. has a significant global presence. It extends its influence well beyond the United States, with a strong foothold in North America, including Canada, where its snack and confectionery brands enjoy popularity.
Mars, Inc. has also made a notable impact in Europe, delighting consumers across the continent. Moreover, the company has successfully expanded into various markets across Asia, Latin America, and other regions, introducing its beloved brands to diverse cultures and consumers worldwide.
Recent Developments
- In September 2023, Mars acquired SYNLAB Vet from SYNLAB Group, integrating it into Mars Petcare’s Science & Diagnostics division. This move enhances their diagnostics and technology offerings, accelerates research and development, and extends global access to pet healthcare solutions.
- In June 2023, Mars successfully acquired Heska, integrating it into Mars Petcare’s Science & Diagnostics division. This acquisition enhances their diagnostics and technology capabilities, accelerates research and development efforts, and expands global access to pet healthcare solutions.
Unilever
Company Overview
| Establishment Year | 1929 |
| Headquarter | London, England |
| Key Management | Hein Schumacher (CEO) |
| Revenue (US$ Bn) | $ 63.2 Billion (2023) |
| Headcount | ~ 127,000 (2023) |
| Website | https://www.unilever.com/ |
About Unilever
Unilever plc plays a significant role in the healthy snack sector, delivering nutritious and convenient snack options to consumers. The company operates with dual headquarters in London, UK, and Rotterdam, Netherlands, and boasts brands like Ben & Jerry’s and Pukka Herbs.
These brands cater to health-conscious individuals, offering choices like dairy-free ice cream and herbal teas. Unilever is dedicated to advancing health and wellness through its product offerings, with a strong focus on innovation and sustainability. Its global presence ensures that healthier snacks are accessible worldwide, meeting the preferences and tastes of diverse markets.
Geographical Presence
Unilever plc, headquartered in London, UK, and Rotterdam, Netherlands, has a robust global reach, making its products accessible worldwide.
The company efficiently manages its international operations, serving consumers across North America, Europe, Asia, Latin America, Africa, and beyond.
Recent Development
- In October 2023, Google Cloud and Unilever collaborated to introduce a new app called “My Unilever” for the company’s factory-based employees worldwide. This app facilitates digital connectivity, allowing these employees to access Unilever’s digital tools and resources from anywhere and on any device.
- In July 2022, Unilever finalized the sale of its Tea business, ekaterra, to CVC.
Kraft-Heinz
Company Overview
| Establishment Year | 2015 |
| Headquarter | Pittsburgh, Pennsylvania, U.S. |
| Key Management | Miguel Patricio (Chairman and CEO) |
| Revenue (US$ Bn) | $ 26.5 Billion (2023) |
| Headcount | ~ 37,000 (2023) |
| Website | https://www.kraftheinzcompany.com/ |
About Kraft Heinz Company
The Kraft Heinz Company is a significant player in the healthy snack sector, offering consumers nutritious and convenient options. With headquarters in Chicago, Illinois, and Pittsburgh, Pennsylvania, the company owns brands such as Planters and Smart Ones, providing health-conscious individuals with choices like nuts and low-calorie frozen meals.
Emphasizing health and wellness, The Kraft Heinz Company invests in innovation and sustainability, with a global reach ensuring accessibility to healthier snacks in various markets and meeting diverse dietary preferences.
Geographical Presence
The Kraft Heinz Company, based in Chicago, Illinois, USA, maintains a strong worldwide presence, making its products available globally.
With effective management of international operations, the company’s offerings are accessible in North America, including the United States and Canada, where its iconic brands are popular. The company has also expanded into Europe, Latin America, Asia, and other regions, introducing its snacks and food products to diverse markets and cultures.
Recent Developments
- In September 2023, Kraft Heinz issued a recall of around 83,800 cases of individually wrapped Kraft Singles American processed cheese slices, which were sent to a select group of customers.
- In July 2023, the Kraft Heinz Company revealed a $400 million investment to construct a highly automated consumer packaged goods (CPG) distribution center, set to be one of the largest in North America.
ITC
Company Overview
| Establishment Year | 1910 |
| Headquarter | Kolkata, West Bengal, India |
| Key Management | Sanjiv Puri (Chairman & MD) |
| Revenue (US$ Bn) | $ 9.8 Billion (2023) |
| Headcount | ~ 49,824 (2023) |
| Website | https://www.itcportal.com/ |
About ITC Limited
ITC Limited is a major player in the healthy snack sector, providing consumers with nutritious and convenient choices. Based in Kolkata, India, the company owns brands like Bingo! and Sunfeast, offering a variety of snacks, including potato chips, finger snacks, and biscuits, with a strong focus on quality and healthier alternatives.
ITC Limited is committed to promoting health and wellness through its product range and invests in innovation for healthier snacks. While primarily operating in India, the company has a global presence, ensuring its healthier snack options are available to consumers worldwide.
Geographical Presence
ITC Limited, based in Kolkata, India, has a robust domestic presence, with its snacks and consumer goods widely distributed throughout the country.
Its products are easily accessible in both urban and rural areas through various retail outlets, including grocery stores, supermarkets, and convenience shops across major states and regions of India. While the company has expanded into some international markets with its snacks and biscuits, its primary emphasis remains on serving the diverse consumer base within India.
Recent Developments
- In May 2023, ITC Foods, in alignment with its mission to ‘Promote Healthier Eating in India,’ introduced its inaugural millet cookies under the Sunfeast Farmlite brand.
- In January 2023, ITC Engage unveiled a new collection of Eau De Parfums designed for special occasions, featuring premium day and night fragrances for both men and women. This launch marks a unique fusion of fashion and scent by ITC Engage.
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