Global Processed Snacks Market 2017-2021

Overview of the global processed snacks market

Manufacturers in the industry are offering high-protein snacks as sources of protein with low calorie content. They are also offering meat snacks in spicy flavors such as teriyaki, jalapeno, and habanero.  Technavio’s market research has identified the rising demand for high-protein snacks to be one of the primary growth factors for the processed snacks market. Processed snack vendors are offering vegetarian and plant-based snacks with high protein content, low calories, and convenience of consumption. Jerky, that provides high protein and has a long shelf-life, is gaining popularity among consumers in the healthy processed foods market. Our market research analysts have estimated that the market will register a revenue of more than USD 439 billion by 2021.

Due to the presence of excessive calories, trans-fats, sugar, sodium, and other processed ingredients, consumers’ preference if shifting towards healthy snacks. Players in the market are enhancing their products or launching new products with healthy product content. Consumers are increasingly opting for healthier ingredients such as snacks high in fiber, protein, and whole grains. To fulfill the consumer demand, manufacturers are focusing on fat reduction of snacks and offering trans-free snacks. Healthy snacks are aimed at consumers suffering from health issues such as weight, diabetes, cancer, and heart disease. According to our analysis, the growing demand for healthy snacks will be one of the key trends that will influence the growth of the processed snacks market in the coming years.

Competitive landscape and key vendors

The processed snacks market is moderately fragmented owing to the presence of several key international and regional vendors. Competition among the processed snacks manufacturers is intensified due to homogeneous product offerings and buyer’s low switching costs. Established players with strong production facilities restrict the entry of new players in the market. To attain competitive advantage in the healthy processed foods market, vendors must offer differentiated products and adopt aggressive promotion strategies.

The leading vendors in the market are

• Calbee
• General Mills
• Hormel Foods
• Intersnack Group
• Kellogg Company
• McCain Foods
• PepsiCo
• Tyson Foods

The other vendors in the market are Aviko and Lamb Weston.

Segmentation by product and analysis of the processed snacks market

• Sweet snacks
• Savory snacks

The sweet snacks segment will account for major share in the healthy processed foods market due to the increased popularity of confectionery items, bakery items, dairy, and others. These range of products, including cakes and pastries, are sugar-stuffed. Further, the advent of contemporary bakeries and in-store bakeries in supermarkets offer these products at reasonable prices. However, growing health-consciousness among consumers and increase in diabetic population hampers the market growth of this segment.

Geographical segmentation and analysis of the processed snacks market

• Americas
• APAC
• EMEA

The Americas will be the major revenue contributor to the processed snacks market owing to the high demand for convenience foods and healthy snacks alternatives. Increased health consciousness among the consumers provides traction to snack alternatives such as contemporary bakeries and in-store bakeries in supermarkets. Further, product awareness and product launches will drive the healthy processed foods market in the Americas.

Key questions answered in the report include

• What will the processed snacks market size and growth rate be in 2021?
• 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, and EMEA.
• 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.