Small bites: Big opportunities in the snacking market

Takeaways

• The snack bar market is forecasted to grow at a CAGR of 5.95% over 2019-2024.
• In line with changing eating behaviour, snack developers have an opportunity to help consumers make healthier choices and meet daily nutrition needs.
• Restricted by choice, some 20% of the global population suffers from a form of food allergy, which presents an opportunity for brands to tap into the demand for allergen-friendly snacks. 
• The digestive health market continues to grow in interest from consumers and manufacturers alike. Although shelves are already stocked with fortified products for gut health, the consumer movement away from processed foods could revive meals in the form of soups, stocks, stews and smoothies that champion foods with naturally-occuring probiotic and prebiotic properties.