The Health Snack Food Production industry is performing strongly. Over the five years through 2014-15, industry revenue is forecast to grow at an annualised 6.6% to reach $619.7 million. This growth is backed by rising discretionary incomes and growing consumer health consciousness. Despite constant product innovation, IBISWorld anticipates that industry growth is not attributed to the introduction of revolutionary products, but rather an increased uptake of healthy diets among consumers. Growing participation in sport, concerns surrounding obesity levels in Australia and time-constrained lifestyles are the key driving forces behind healthy eating and uptake of industry products.
Companies in the industry produce healthy snack foods that have high nutritional value, including protein bars. The industry excludes supplement foods and low-fat, low-sugar variations of traditional snacks.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.