Food and Beverage
Overview of the global baked savory snacks market
Technavio’s market research analyst predicts that the global baked savory snacks market will grow at a CAGR of around 4% between 2016 and 2020. Owing to the growing health concerns across the globe, people are shifting towards healthier eating, resulting in the high demand for low-caloric foods such as savory snacks that have zero percent trans-fat, are soy-free and gluten-free, and made with healthy ingredients such as wholegrain and multi-grains. An increase in consumption of snacks, evening snacks and snacks for breakfast, globally is significantly driving the market. Also, replacement of meals by snacks has created a massive opportunity for the global players to introduce innovative product offerings, keeping in mind the nutrition and taste aspects of consumers. The growing demand for low GI (Glycemic Index) and high bio-active containing baked savory snacks, will positively contribute to the overall growth of the market during the forecast period.
Several baked savory snacks marketers have started offering their products on the online platform with the help of e-tailers. General Mills and Kellogg have their online portals to sell their products. Vendors are also using social media campaigns through Facebook, Twitter, LinkedIn, and WhatsApp for product promotion. Some promising social media campaigns are Kellogg's Tweet Menu, Merry Pringles, and PepsiCo's Lay's Chippy Awards and Do us a flavor.
Competitive landscape and key vendors
Marked by the presence of numerous small and large vendors, the global baked savory snacks market is extremely competitive, where these players compete
Outlook of the flavored milk market
Extensive research carried out by the analysts at Technavio has shown that the global flavored milk market is expected to witness steady growth and will post a CAGR of more than 4% over the forecast period. The inclusion of flavored milk as part of school meal plans in several countries such as the US and India will drive the growth of this market over the coming years. The increasing consumption of flavored milk by children has led to a significant decrease in the consumption of soft drinks and other beverages, which lack nutritional benefits. Moreover, several professional health organizations such as the American Academy of Pediatrics and the American Academy of Pediatric Dentistry support the consumption of flavored milk by children as milk is a rich source of essential nutrients including calcium, potassium, and magnesium.
An emerging trend gaining significant traction in this market is the launch of products with new flavors. The majority of vendors are expanding their flavor portfolio to keep the customers interested in the market. For instance, in March 2016, Prairie Dairy Farms launched two new flavors for its Peeps flavored milk. The two new flavors offered by the vendor are strawberry créme and orange créme. The introduction of new flavors is likely to result in the increasing consumption of flavored milk during the predicted period.
Competitive landscape and key vendors
The global flavored milk market is highly dynamic due to the presence of numerous well-established global and regional vendors. Several vendors are coming up with new innovative products and are also investing heavily in research and development to remain competitive in the market. To cater to the changing consumer preferences, the players are launching products with new flavors. Also, new and innovative packaging are
Overview of the bakery market
Extensive research carried out by the analysts at Technavio has shown that the global bakery market is expected to witness steady growth and will post a moderate CAGR of more than 6% over the forecast period. The increasing popularity of functional ingredients-based bakery products is one of the primary factors driving this market’s growth. Special dietary needs, such as gluten-free products have led to the augmented adoption of functional ingredients to enhance the products and make them healthier. For instance, in the recent years, several bakery products in Canada contain rice flour and chia flour instead of wheat flour. Also, numerous products have been launched over the past couple of years, most of which are kosher or organic. Moreover, the rising popularity of organic bakery products will contribute to this market’s growth in the coming years.
One of the recent trends spurring this market’s growth is the introduction of trans-fat-free products in the market. By offering trans-fat-free products, vendors are targeting health-conscious consumers. Moreover, an increasing number of nutrition-conscious people have considerably reduced their salt intake and are always on the lookout for functional ingredients in their food. For example, in India, Kamani Oil Industries offers a range of specialty oil and fats for use in bakery products. Its trans-fat-free range covers PuffLite, K-Lite, and CakeLite.
Competitive landscape and key vendors
The global bakery market is subject to rapidly changing consumer preferences and demands. It is also significantly affected consumer tastes, regional, economic conditions, and demographic trends. The market is highly fragmented
Outlook of the dietary fiber market
Technavio’s market research analyst predicts the global dietary fiber market to grow at a CAGR of around 13% until 2020. One of the major drivers for this market is the immense health benefits associated with the consumption of dietary fibers. Recent studies have shown that people with high intake of fibers are less prone to diseases such as obesity, stroke, and hypertension. Consequently, people across the globe have become more concerned and cautious about their health and fitness and are paying more attention to the nutritional content of the food they consume. This change in the populace’s preferences will result in the augmented demand for fiber-based food products, which in turn will result in the growth of the dietary fiber market during the forecast period.
The growing demand for dietary fiber as a functional food is expected to have a positive impact on the market during the forecast period. Also, the launch of different dietary fiber-based products is another factor that will boost the prospects for market growth until 2020. Companies in the food and beverage industry are predominantly adopting new strategies that focus on dietary fibers as a way to market their products and brands. Also, factors such as the rising demand for bakery products is expected to fuel the global market for dietary fibers until 2020.
Segmentation by product and analysis of the dietary fiber market
- Soluble fiber
- Insoluble fiber
In this market research, analysts have estimated the insoluble fiber segment to account for more than 55% of the total market share during the forecast period. Factors like the growing number of people with obesity and the increasing incidence of several health problems, such as cholesterol and coronary heart disorder, will fuel the demand for insoluble dietary
Global outlook of the dried processed food market
Technavio’s market research analyst predicts the global dried processed food market to grow at a CAGR of more than 6% during the forecast period. Dried processed food products like pasta and noodles are staple foods in several countries across the globe. Hectic lifestyles of consumers and the need for leisure has propelled the use of such convenient food products like dried ready meals, dried pasta and noodles, and several other dried processed food products that require minimal time for preparation. These dried foods have various nutritional properties, unique flavor and taste, and convenience which make them a principal diet among people. Owing to the growing consumer interests, food manufacturers worldwide are focusing on using natural food additives with a broad range of functions, high effectiveness, and low toxicity in these dried food products. For instance, Kraft Foods has announced that by 2016, its boxed noodles products would be colored with natural ingredients such as paprika, annatto, and turmeric.
Consumers are opting for gluten-free diets owing to several health concerns which has prompted them to adopt healthier options such as regular dried food products. Gluten causes the intestinal cells to die prematurely due to its inflammatory effect, which allows bacterial proteins and other toxic compounds to get in the blood stream, leading to autoimmune attacks on the body. This has pushed several manufacturers to add gluten-free dried
Overview of the global extruded snacks market
Technavio’s market research analysts predict that the global extruded snacks market will grow at a CAGR of around 4% by 2020. Nowadays, the consumers are more attentive about their snacking habits and are increasingly adopting healthy snacking foods such as extruded snacks because of their metabolic benefits. Healthy snacking is also considered as a complement to weight-loss plans, and these snack foods provide the required vitamins and nutrients that a body needs. The nutritional contents of extruded snacks can be altered by modifying the digestion capability of protein and starch while the low GI and high bioactive containing extruded snacks can be customized to maintain balanced nutrition. The growing demand for healthy snacking and weight management will drive the global extruded snacks market during the forecast period.
APAC is expected to be the largest revenue-generating region in the global market and is likely to occupy more than 43% of the total market revenue by 2020. Consumers in APAC prioritize the convenience of buying and taste of snacks which has augmented the demand for extruded snacks in the region. Factors such as wide obtainability of various snacking options available at reasonable prices will boost the growth prospects for the market growth in this region during the forecast period.
Competitive landscape and key vendors
The market is highly fragmented because of the presence of numerous small and large vendors who compete on the basis of price, quality, innovation, service, reputation, distribution, and promotion. The growth opportunities of these market players depend on the changing consumer spending pattern, regional, national, and local economic conditions, and demographic trends. Intense
The food and beverage industry encompasses the entire range and distribution of fast-moving consumer goods (FMCG) products from suppliers and manufacturers. Technavio’s food and beverage domain provides actionable global market analyses and forecasts. It examines key drivers, challenges, and emerging trends that are influencing the market.
Through Technavio reports clients can garner strategic insights into real consumer attitudes and behaviors and identify key market opportunities for future growth and investment. Our expert research and analysis includes carefully compiled data, like market size, vendor analysis, and competitor information, for different markets in the food and beverage industry. Technavio analysts continuously monitor industry segments, including alcoholic beverages, non-alcoholic beverages, food, and food services.
Leading companies extensively covered in our report offerings include Coca-Cola, Diageo, Mondelez International, Nestlé, PepsiCo, and Unilever.