In 2016 the global healthy snacks market was worth $21.1 billion dollars, and it’s expected CAGR over the next few years is 5.1%. Nuts/Seeds & Fruit Snacks is expected to account for 27% of the market share in 2025.
Driven by young consumer lifestyles, the better-for-you trend is focused on labeling ingredients simply and clearly, and combination snacks or meal replacement options.
This growth implies potential investment in packaging machinery for Bars (flow wrappers) and Nuts & Healthy chips (pouch-fillers, including form-fill-seal and shelf ready packaging-based case packers). According to the report, many OEMs have confirmed that sales of equipment associated with Healthy Bars & Nuts/Seeds are growing the fastest.
The single-serve trend is about offering lower portions and less calories. Retailers are asking for smaller packages that allow them to exploit this trend and also stack more on the shelves. Respondents did feel that faster primary packaging machines are needed to keep up with this trend.
This trend makes on-the-go snacking possible while retaining food freshness and is expected to continue to drive growth in zippered stand-up pouches.
Millennials want a variety of flavors, which is driving greater growth in the global Savory snacks market relative to the Sweet snacks market.
One consequence of these consumer trends is an explosion of SKUs. As young consumers drive expanded flavors, healthier products and a growing number of packaging options - including single-serve – this creates more items beyond the existing product lineup (which still remain on the market).
Source: PMMI Business Intelligence “Snack Foods – Packaging and Processing Market Assessment and Trends 2018”
For more details about the Snack Foods market as it pertains to the packaging and processing industry, download the FREE Executive Summary or the full report here.
Be sure to join us at ProFood Tech, March 26-28 in Chicago!