The global protein snacks market was valued at USD 46.49 billion in 2023 and is projected to rise from USD 50.48 billion in 2024 to USD 100.56 billion by 2032, reflecting a CAGR of 9% during the forecast period. Asia Pacific led the market with a share of 43.17% in 2023.
In addition, the U.S. protein snacks market is anticipated to reach USD 13.65 billion by 2032, fueled by growing demand for health-oriented snack options.
Leading market participants are heavily investing in research and development and utilizing innovative ingredients to craft nutritious, healthy snack options aimed at expanding their consumer base. This approach helps companies stand out and maintain a competitive edge.
Protein snacks are high-protein food items typically consumed between meals to support daily protein intake. These include bars, shakes, jerky, nuts, seeds, yogurt, and other nutrient-rich options. They are valued for their ability to curb hunger, aid in muscle repair, and provide energy—making them especially appealing to athletes, health enthusiasts, and consumers looking to increase their protein consumption.
Information Source: https://www.fortunebusinessinsights.com/protein-snacks-market-110937
Segmentation
Protein Bars Segment Leads Due to High Demand for On-the-Go Nutrition
By type, the market is segmented into protein bars, meat snacks, cookies, and others. Protein bars held the largest share in 2023, driven by the increasing preference among young, active individuals for portable, nutritious snacks that suit their busy lifestyles.
Animal-Based Protein Snacks Dominate Owing to Superior Protein Content
On the basis of source, the market is divided into animal-based and plant-based products. The animal-based segment held the highest market share in 2023 due to the high protein concentration typically found in animal-derived snacks.
Supermarkets/Hypermarkets Segment Gains Traction Due to Extensive Product Availability
Regarding distribution channels, the market is segmented into supermarkets/hypermarkets, convenience stores, e-commerce, and others. Supermarkets/hypermarkets emerged as the dominant channel in 2023 due to the wide variety of popular protein snack brands available for consumer selection.
Geographically, the market covers North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage
This report offers an in-depth analysis of key market segments, including major product types, sources, and distribution channels, along with profiles of significant market players. It also highlights current trends and recent industry developments. Additional insights explore various contributing factors to overall market expansion.
Drivers and Restraints
Rising Focus on Health and Wellness to Propel Market Expansion
Globally, consumers are increasingly prioritizing their health, leading to a surge in demand for nutritious snack options. This trend has encouraged manufacturers to incorporate healthier ingredients into their products to enhance nutritional value and appeal to the health-conscious segment. For example, Quest Nutrition introduced a protein bar designed to satisfy sweet cravings while offering health benefits. Such innovations are expected to support market growth.
Nonetheless, strict regulatory frameworks in different regions pose challenges to product promotion and market expansion.
Regional Insights
Asia Pacific Commands Market Share with Heightened Focus on Wellness
Asia Pacific remains the largest market, as consumers in the region are becoming more mindful of their health and lifestyle habits. Increased awareness of the benefits of protein snacks is driving product demand across several countries.
Europe is also witnessing steady growth, bolstered by a health-conscious population that consistently seeks products to improve physical wellbeing.
Competitive Landscape
Strategic Alliances and New Product Development to Strengthen Market Presence
Prominent companies in the protein snacks sector are forming strategic alliances and partnerships to introduce new and innovative healthy snack options such as protein bars and chips. These offerings are designed to meet consumer cravings while providing essential nutrients.
Major Companies Profiled in the Report
- Mondelez International, Inc. (U.S.)
- Quest Nutrition LLC (U.S.)
- Kellanova (U.S.)
- General Mills, Inc. (U.S.)
- GNC Holdings, LLC (U.S.)
- Hormel Foods (U.S.)
- Jack Link’s (U.S.)
- Meat Snacks USA (U.S.)
- Mars, Inc. (U.S.)
- Kerrys Foods (Ireland)
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Key Industry Development
August 2024 – Angel Yeast, a prominent player in China's retail snack market, collaborated with health food brand ffit8 to launch two products: a nougat protein bar and a protein nougat snack. These items debuted in Shanghai, China.
