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Cheltenham low sugar snack brand pushes fundraising target to £300K

2 August 2021
The Business Magazine article image for: Cheltenham low sugar snack brand pushes fundraising target to £300K

Fitbakes, the award-winning Cheltenham snacks brand, which reached its funding target of £225,000 through Seedrs, in just nine hours last month is now aiming for £300,000 on the crowdfunding platform which will allow it to pump up its Amazon channel in the UK and abroad.

The global healthy snacks market size is expected to reach $32.88 billion by 2025, according to a report by Grand View Research, Inc., expanding at a compound annual growth rate of 5.2 per cent during the forecast period. Increasing awareness regarding health and wellness benefits offered by the product among consumers is likely to be a key trend driving the market.

The news of Fitbakes' successful fundraising comes just weeks after another Gloucester-based nutrition company Pulsin Limited. was sold to investment company S-Ventures PLC.

Pulsin is a well-established plant-based nutrition company, with a focus on healthy protein bars, nutritional snacks and Keto bars. The sale valued the company at around £7.5 million.

The consumption of healthy snacks is growing thanks to more people deciding to adopt various dietary requirements such as sugar-free, low salt content, and low cholesterol levels.

Europe is the leading regional market in the healthy snacks market. A wide base of youth population in the region along with high spending power of the populace is stoking the growth of the regional market. Healthy snacks provide grab-and-go option coupled with convenience to meet the needs of customers.

Sarah Coleman, insight and communications director at UK-based Lumina Intelligence, says: “During the pandemic, we have seen an increase in snacking occasions, as consumers graze throughout the day while working from home. As a result, demand for healthier options is growing, with nearly half of consumers trying to make healthier decisions when it comes to choosing what to snack on. While the three most popular snacks continue to be crisps, confectionery and biscuits - fruit, yogurts, nuts and protein bars are gaining momentum."

Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

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