Rockville , Sept. 12, 2023 (GLOBE NEWSWIRE) — The revenues of the Snack Subscription Market were estimated at US$ 107.5 million in 2022 and are anticipated to grow at a CAGR of 13.9% from 2023 to 2033, according to a recently published Fact.MR report. By the end of 2033, the market is expected to reach a valuation of US$ 699 million. The market generates significant revenue through Monthly Subscriptions of snacks and is projected to grow with a CAGR of 13.5% from 2023 to 2033.
In 2019, the global healthy snacks sales were valued at around US$ 78.1 billion and is projected to reach about US$ 108.1 billion by 2025, it is expected to grow at a CAGR of 5.2% during the forecast period. Consumers are becoming more health-conscious and seeking snacks that are nutritious, natural, and made with high-quality ingredients.
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Key Segments of Snack Subscription Industry Research Report
| By Subscription Frequency | By Subscription Type | By Consumer Group |
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Snack subscription services that offer healthier snack options, such as organic, gluten-free, or low-sugar snacks, are witnessing increased demand as consumers look for convenient ways to incorporate healthy snacking into their lifestyles. The growing need for healthy snacks is expected to help towards the growth of the snack subscription market in the upcoming years.
In 2019, the global kid’s snacks market was valued at around USD 32.50 billion and is projected to reach about USD 56.70 billion by 2025, growing at a CAGR of 9.4% during the forecast period. The market is expected to witness growth due to factors such as increasing disposable income, changing consumer preferences for convenient and healthier snack options for children, and the growing influence of social media and marketing strategies targeting kids and parents. The increasing demand of kid’s snacks on a regular basis is also leading to a boost in the market growth.
In 2018, food subscription sales were around US$ 2.2 billion which grew to over US$ 3.1 billion in 2019. This represented a significant increase from previous years, due to the growing consumer interest in meal kit services and the adoption of subscription-based models for food.
| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2031) | US$ 699 Million |
| Growth Rate (2022-2031) | 13.5% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 48 Tables |
| No. of Figures | 144 Figures |
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Competitive Analysis:
Key players in the market are Universal Yums LLC, MunchPak, Thrive Market, Urthbox, fitsnack, Vegancuts, The Cravory, Bokksu, KetoKrate, and Variety Fun.
A few of the recent developments in the Snack Subscription Market are:
- In May 2021, MunchPak introduced a new “MunchPak Mini” option, which offers a smaller-sized snack box with a curated selection of snacks for customers who prefer a smaller snacking experience or want to try MunchPak at a more affordable price point.
- In July 2021, Urthbox announced a partnership with BOLD Organics, a plant-based frozen pizza brand, to include BOLD Organics’ pizzas in their snack subscription boxes. This collaboration offered Urthbox subscribers a new and convenient way to enjoy plant-based frozen pizza as part of their healthy snacking routine.
United States Snack Subscription Market Analysis
The snack market in the United States is poised for remarkable expansion, anticipated to reach a value of US$ 212.1 million by 2033. This signifies an impressive absolute dollar growth of US$ 147.6 million from 2023 to 2033. The market has exhibited robust growth, registering a compelling CAGR of 77.7% from 2018 to 2022, and it is projected to continue this growth momentum with an anticipated CAGR of 12.6% from 2023 to 2033.
Notably, the United States ranks among the largest snack markets globally, characterized by a per capita snack consumption rate that consistently surpasses global averages. According to data sourced from the U.S. Department of Agriculture (USDA), per capita consumption of salty snacks in the U.S. is estimated at approximately 20 pounds per person. This surge in snack demand within the United States plays a pivotal role in propelling market expansion.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Snack Subscription Market, presenting historical market data (2018-2022) and forecast statistics for the period from 2023 to 2033.
The study reveals extensive growth in Snack Subscription Market by Subscription Frequency (Monthly, Quarterly, Half Yearly, Annually), by Subscription Type (Prepaid, Postpaid), by Consumer Group (Kids, Adult), by Region (North America, Latin America, Europe, Asia- Pacific, Middle East and Africa) – 2023 to 2033.
Checkout More Related Studies Published by Fact.MR Research:
Snacks Market: worldwide sales of snacks stand at a revenue of US$ 507.2 billion in 2023 and are projected to reach an approximate market valuation of US$ 835.8 billion by the end of 2033. Over the course of the next ten years, the global snacks market is forecasted to evolve at 5.1% CAGR.
Fruit Snacks Market: Currently, worldwide fruit snack consumption amounts to a market valuation of US$ 5.9 billion and is projected to increase at 7.8% CAGR from 2023 to 2033. The global fruit snacks market is forecasted to reach a value of US$ 12.5 billion by the end of 2033.
Jerky Snacks Market: The global jerky snacks market is valued at US$ 715 Million in 2023. As per this new study by Fact.MR, global demand for jerky snacks is forecasted to reach a market valuation of US$ 1.3 Billion by 2033, increasing at a CAGR of 6.3% during the forecast period (2023 to 2033).
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