Protein Snacks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Albany, NY -- (SBWIRE) -- 07/13/2018 -- The global protein snacks market is growing at a significant rate from the last few years. The rising number of products and their easy availability of these products are the major factors that are predicted to encourage the growth of the overall market in the next few years. The expected rise in the number of players is likely to strengthen the competitive scenario of the global protein snacks market in the coming years. In addition to this, the increasing number of retail outlets and supermarkets have resulted in a significant boost in the demand for different types of protein snacks is projected to encourage the growth of the global market in the next few years.
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Which regional segment is projected to enhance market growth in the coming years?
The global market for protein snacks has been classified on the basis of geography into Latin America, North America, Europe, the Middle East and Africa, and Asia Pacific. Among these, North America is predicted to witness high growth in the next few years. According to the research study, this region is likely to continue with its dominance in the coming years. The high growth of this region can be attributed to the presence of a large number of players and the rising health consciousness among people. Furthermore, Asia Pacific is expected to witness significant growth in the near future.
Which factors are projected to enhance the growth of the global protein snacks market?
The rising health concerns and the increasing prevalence of malnutrition problems, especially in underdeveloped nations are the major factors that are estimated to encourage the growth of the global protein snacks market in the next few years. The changing lifestyle of consumers, along with the rising awareness among consumers concerning the importance of consuming healthy and protein-rich diet are further projected to accelerate the growth of the overall market in the coming years. Furthermore, the development of the distribution channels for the easy availability of products is estimated to generate potential growth opportunities for the market players in the near future.
Value added snacks that are filled with proteins and claim to provide additional protein which are either animal-based such as poultry, meat and fish or plant-based such as protein rich seeds or lentils are called protein snacks. The overall demand for these functional or fortified options of snacking is growing among the consumers across the globe, specifically amongst the urban citizens thanks to their extremely busy lifestyles that does not provide much scope for enough nutritional intake via traditional food habits. As the fortification of food is thought to be a strategic measure to tackle the problem of malnutrition growing in the underdeveloped regions by the World Health Organization (WHO) has resulted into the growth in demand for these fortified food products in the global market.
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The global market for protein snacks is highly competitive in nature and is estimated to witness similar scenario in the next few years. Some of the leading players operating in the protein snacks market across the globe are Buff Bake, Quest Nutrition LLC, Kellogg's Co., and Vitaco Health Australia. In order to enhance the market penetration and attract a large number of audience, the leading players in the market are focusing on development of new product and innovations. In addition to this, the increasing expenditure on advertising and market activities is projected to enhance the growth of the overall market in the next few years.