Global Processed Snacks Market 2016-2020
- Published: Jul 2016
- Pages: 59
- SKU: IRTNTR9313
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This market research study presents a detailed segmentation of the global processed snacks market by type (extruded snacks, tortilla chips, and pork scratchings) and by geography (Americas, APAC, Europe, and MEA). Leading vendors in the market are Calbee Foods, Intersnack Group, Kellogg, and PepsiCo.
Outlook of the processed snacks market
According to the analysts at Technavio, the global processed snacks market is envisaged to witness steady growth at a CAGR of almost 5% over the forecast period. Due to evolving taste preferences of consumers, the market for processed snacks has a positive outlook in the coming years. Consumers, especially the youth, are keen on experimenting and constantly seek different varieties of snack food. Manufacturers strive to meet this demand through product innovation, brand extensions and new brand introduction. Moreover, increasing demand for local and artisanal flavors is expected to drive the growth prospects of this market in the next four years. For example, PepsiCo’s chips brand Lay's is manufactured in different region-specific flavors to tap potential customers and enhance their market presence.
In this industrial research report, the analysts have estimated factors such as the growing demand for low-calorie, clean snacks to bolster the growth prospects of this market over the predicted period. Consumers are becoming increasingly health-conscious and are opting for healthy snacking options. Also, healthy snacking is perceived as a complement to weight-loss plans and offers a convenient way to satisfy hunger while getting the necessary vitamins and nutrients. Since the nutritional content of extruded snacks can be manipulated by altering the digestion potentiality of protein and starch, the market for processed snacks is likely to witness steady growth. As obesity rates rise around the world, especially in the US, the demand for low-calorie and healthy snacks will increase significantly in the next four years.
Competitive landscape and key vendors
The global processed snacks market is highly fragmented owing to the presence of several international and regional suppliers. Vendor performance in the global processed snacks market may be affected by the evolving customer spending pattern. These vendors compete on the basis of numerous factors including pricing, quality, product differentiation, distribution, and promotion. The report predicts that with intense competition and rapid technological changes will result in intense vendor competition during the forecast period.
Key vendors in this market are -
- Calbee Foods
- Intersnack Group
Other prominent vendors in the market are Arca Continental, Amica Chips, Aperitivos Flaper, AUEVSS, Axium Foods, Bag Snacks, JFC International, Mondelez International, Oberto Sausage, Universal Robina, and Want Want Holdings.
Segmentation by type and analysis of the processed snacks market
- Extruded snacks
- Tortilla chips/corn chips
- Pork scratchings
During 2015, the extruded snacks segment dominated the market and accounted for more than 69% of the market share in terms of revenue. Factors such as the increasing demand for healthy snacks and rapidly changing consumer habits to propel the growth prospects of this market until the end of 2020. Also, an augmented demand for processed snacks from the developing countries in APAC is envisaged to drive the growth of this market.
Geographical segmentation and analysis of the processed snacks market
The Americas dominated the global processed snacks market and is expected to reach more than USD 25 billion by the end of 2020. Working schedules and limited spending capacities are persuading consumers to skip meals while encouraging them to buy processed snacks. Moreover, high brand awareness and frequent product launches are expected to contribute to the growth of the market in the region.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global processed snacks market?
- What are the key market trends impacting the growth of the global processed snacks market?
- What are the challenges to market growth?
- Who are the key vendors in the global processed snacks market?
- What are the market opportunities and threats faced by the vendors in the global processed snacks market?
- Trending factors influencing the market shares of the Americas, APAC, Europe, and MEA.
- What are the key outcomes of the five forces analysis of the global processed snacks market?
Technavio also offers customization on reports based on specific client requirement.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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