Rapid Expansion Expected in Protein-Rich Treats Sector, Anticipated to Reach 8.8% Annual Growth Rate by 2034
The global protein snacks market is on an upward trajectory, projected to reach an impressive USD 10.5 billion by 2034 [1]. This growth is fueled by a variety of factors, including rising health awareness, busy lifestyles, and the demand for convenient, nutritious options.
In 2024, North America led the market with a 45.2% share and USD 2.0 billion in revenue [1]. The U.S., in particular, was the leading country in North America for generating revenue in the global protein snacks market. Key players like General Mills, with brands such as Nature Valley Protein Bars and Lärabar Protein Bars, and GNC, expanding its Pro Performance Protein Snacks and partnering with Quest Nutrition, have contributed significantly to this growth.
Clif Bar also made its mark in 2024 by introducing Clif Nut Butter Filled Bars, offering plant-based protein options. Danone, with its high-protein dairy snacks under Oikos and Two Good brands, and FAGE, expanding its Crossovers line with protein-emphasized Greek yogurt products, are other notable players in the market.
EPIC Provisions, a General Mills brand, expanded its meat-based protein snacks product line, catering to consumers seeking variety in their protein sources. The market also sees a rise in plant-based and functional snacks, reflecting the growing preference for such products.
The market growth is further driven by higher disposable incomes and urbanization, which boost the need for convenient, nutritious options. In addition, lifestyle diseases like obesity and diabetes are driving demand for healthier snacks, with protein snacks offering weight management support and improved glycemic control.
The USDA has invested over USD 5 billion in school nutrition programs since 2021, and initiatives like India's Midday Meal Scheme, providing protein-rich lunches to over 120 million schoolchildren, highlight the importance of nutrition in public health.
The protein snacks market consists of protein snack concentrates, which are high-protein ingredients or ready-to-eat products such as bars, powders, and fortified snacks. These products can be derived from animal or plant sources, such as dairy, soy, pea, lentils, etc., catering to diverse dietary preferences.
The market's projected CAGR from 2025 to 2034 is 8.8%, indicating a robust growth trajectory. This growth is supported by health-conscious consumer trends, diversity of protein sources, functional health benefits, and preference for natural ingredients.
In conclusion, the protein snacks market is poised for significant growth, driven by a combination of health-conscious consumer trends, diverse protein sources, functional health benefits, and a preference for natural ingredients.
[1] Source: Market Research Report on Global Protein Snacks Market, 2022.
- The science of nutrition plays a crucial role in the development of protein snacks, as these products are designed to be nutritious and offer various health benefits.
- In the realm of finance and personal finance, the growing demand for protein snacks presents an investment opportunity, as companies in the fitness-and-exercise and food-and-drink sectors continue to innovate and expand their product lines.
- The home-and-garden sector also has a connection to the protein snacks market, as consumers' increased interest in lifestyle and wellness often extends to their domestic spaces, with healthier food options becoming a priority.
- Technology and data-and-cloud-computing are integral to the market research and development process in the protein snacks industry, as companies analyze consumer preferences and trends to create products that cater to a wide range of dietary needs and preferences.
- Investing in a health-and-wellness lifestyle, which includes regular exercise and incorporating protein snacks into one's diet, can improve overall health and well-being – an essential aspect of lifestyle.
- The travel industry can benefit from the growth of the protein snacks market, as hotels and airlines might opt to provide these nutritious options for guests seeking convenience and healthy alternatives while on the go.
- When shopping for snacks, consumers now prioritize not only taste but also the functional benefits of the food they consume, with protein snacks offering weight management support and glycemic control – two factors that contribute to better health and wellness.
- Lastly, the interest in sports continues to fuel the protein snacks market, as athletes actively seeking ways to boost their performance often incorporate protein-rich snacks into their diets to maintain energy levels and support muscle recovery.
