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Report on How AI is Driving Market Transformation 
The sweet snacks market size is forecast to increase by USD 82.4 billion at a CAGR of 5.21% between 2023 and 2028. The market is experiencing significant growth due to several key factors. First, the increasing disposable income of consumers is leading to a rise in demand for indulgent treats, such as chocolate flakes and sugar-free options. Additionally, the preference for healthier alternatives is driving the popularity of conventional snacks, like Protein snack bars, among consumers. Furthermore, online retail channels are gaining traction, making it easier for consumers, including diabetic patients, to access a wide range of snack options from the convenience of their homes. The market is also witnessing a trend towards innovative flavors and the introduction of organic chocolates and sugar-free products. However, stringent government regulations related to food products pose a challenge to market growth. Overall, the market is expected to continue its expansion, offering numerous opportunities for businesses.
One of the primary drivers is the increasing preference for convenient and on-the-go food options among consumers. This trend is particularly prominent among the younger demographic, who lead busy lifestyles and seek out snacks that can be easily consumed throughout the day. Another factor fueling the growth of the market is the rising awareness of health and wellness. Consumers are increasingly seeking out snacks made with natural ingredients, free from artificial additives and preservatives. Organic snacks, including dried fruits, nuts, Seeds, and dark chocolate, have gained popularity as a result. Obesity remains a concern in North America, leading consumers to seek out snacks with fewer calories and carbohydrates. As a result, there is a growing demand for protein snack bars and other low-sugar options. Flavors are also playing a role in driving sales, with consumers seeking out unique and exotic flavors to add variety to their snacking routine.
In terms of distribution channels, convenience stores and online platforms are leading the way in the market. Convenience stores offer consumers the ability to purchase snacks on the go, while online distribution channels provide consumers with a wider selection of options and the convenience of home delivery. Raw materials used in the production of sweet snacks, such as fresh fruits, frozen fruits, and dried fruits, are also impacting market trends. For example, the use of fresh fruits in smoothies and other snacks is on the rise, as consumers seek out more natural and healthful options. Similarly, the use of coconut and dates as ingredients in sweet snacks is becoming increasingly popular due to their nutritional benefits and unique flavors. In conclusion, the market in North America is being shaped by various trends, including the preference for convenience, health and wellness, and unique flavors. Distributors and manufacturers that can meet these evolving consumer demands are well-positioned to succeed in this growing market. By offering a wide selection of natural, low-sugar, and flavorful snack options, they can cater to the diverse needs and preferences of consumers.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The cakes segment is estimated to witness significant growth during the forecast period. The snack market in the United States features a diverse range of offerings, with potato crisps being a popular choice among consumers. Brands like All Dressed offer a variety of flavors, catering to both traditional and health-conscious preferences. The demand for snacks made with natural ingredients and organic certifications is on the rise, as consumers increasingly prioritize gut health and high protein intake.
Key factors driving the potato crisps segment include the growing trend toward clean labeling and the convenience of portable, ready-to-eat snacks. The increasing number of specialized snack manufacturers and online retailers further expands the availability and accessibility of these products for consumers.
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The cakes segment accounted for USD 119.00 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in Asia Pacific (APAC) is experiencing significant expansion due to shifting consumer preferences, expanding disposable incomes, and a growing middle class population. Key contributors to the market's growth include countries such as India, China, Japan, Australia, Vietnam, and Indonesia. Economic growth in APAC nations, including Southeast Asian markets, has resulted in increased disposable income, fueling the demand for sweet snacks in the region. For example, Vietnam, with a population of approximately 97 million, is experiencing a consumer spending increase due to rising discretionary income. The middle class, currently comprising 13% of the population, is projected to double by 2026. Furthermore, the trend towards healthier snack options and organic food is likely to persist, creating opportunities for manufacturers and distributors.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising purchasing power of individuals is the key driver of the market. The sweet snack market has witnessed significant growth due to the increasing purchasing power of consumers in developing countries. This trend is driven by the expansion of the middle-class population in regions such as India, China, Brazil, Indonesia, Russia, and South Africa. As a result, consumers in these markets have been able to broaden their food choices and allocate more budget towards non-essential items, including convenience and ready-to-eat (RTE) packaged foods. The sweet snack category encompasses a variety of products, such as fresh fruits, dried fruits, frozen treats, and dark chocolate. Additionally, smoothies made from whole foods have gained popularity as healthier alternatives to traditional sweet snacks.
The rising popularity of organic chocolates is the upcoming trend in the market. Organic flakes, including chocolate, are produced using certified organic ingredients, ensuring they are free from pesticides, herbicides, synthetic fertilizers, and genetically modified organisms. The creation of organic flakes adheres to strict guidelines, excluding artificial ingredients and preservatives. In contrast, conventional flakes may utilize cacao beans and sugar grown using chemical fertilizers and pesticides. The preference for healthier snacking options has gained momentum due to the increasing health consciousness among consumers. This trend has contributed to the rise in popularity of sugar-free and protein snack bars, as well as organic flakes, in the US snacks market. Online retail channels have made it easier for diabetic patients and health-conscious individuals to access these options.
Stringent government regulations related to food products is a key challenge affecting the market growth. The market is undergoing transformation due to regulatory changes aimed at reducing health concerns related to sugar consumption. Governments worldwide are imposing stricter guidelines, such as sugar taxes, to discourage the intake of sugary products. This tax hike equates to approximately USD 0.13.
Nuts, seeds, dates, coconut, crisps and chips, and extruded snacks are popular sweet snack options that offer an alternative to sugary treats. Consumers are increasingly opting for these healthier choices due to their lower calorie and carbohydrate content compared to traditional sweets. As a result, the demand for these snacks is expected to grow steadily in the coming years.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Arca Continental S.A.B. de C.V. - The company offers sweet snacks products under the brands of Bokados, Wise, Inalecsa, and others.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing trend of snacking among consumers. Obesity and health consciousness are major macro indicators driving the demand for sweet snacks with natural ingredients, such as organic fruits, nuts, seeds, and dried fruit. Consumers are increasingly preferring raw material sources that are fresh, frozen, or dried, rather than processed and sugary options. Dark chocolate, smoothies, and whole foods are popular choices for those seeking sweet snacks that offer health benefits. Calories and carbohydrate content are key considerations for consumers, leading to the rise of sugar-free, low-carb, and low-sugar snacks. Convenience stores and online distribution channels are major sales channels for sweet snacks, catering to consumers' demand for portable, resealable, and eco-friendly packaging options.
Diabetic patients and those with dietary preferences for gluten-free, vegan, or vegetarian options are driving the demand for specialized sweet snacks. Snack variety is also a significant factor, with consumers seeking innovative flavors, such as potato crisps in unique seasonings like "all dressed," and new product categories like crunchy poppers and whisps. Food safety and organic certifications are crucial for consumers, ensuring that their snacks are produced using natural ingredients and sustainable practices.
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Market Scope |
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Report Coverage |
Details |
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Page number |
209 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.21% |
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Market growth 2024-2028 |
USD 82.4 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.05 |
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Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 39% |
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Key countries |
US, China, Germany, UK, and Russia |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Arca Continental S.A.B. de C.V., Blue Diamond Growers, Calbee Inc., Campbell Soup Co., Chocoladefabriken Lindt and Sprungli AG, Conagra Brands Inc., Ferrero International S.A., General Mills Inc., Haldiram Foods International Pvt. Ltd., HARIBO GmbH and Co. KG, Jelly Belly Candy Co., Kellogg Co., Mars Inc., Mondelez International Inc., Nestle SA, Palmer Candy Co., PepsiCo Inc., The Hain Celestial Group Inc., The Hershey Co., Unilever PLC, and Universal Robina Corp. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Product
9 Market Segmentation by Distribution Channel
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
With the growing adoption of AI across industries, Technavio has analyzed its impact on sweet snacks market driven by the integration of Artificial Intelligence (AI). AI is revolutionizing Sweet Snack sby advancing performance analytics, refining betting systems, optimizing breeding programs, and elevating the fan experience. This analysis delves into AI's impact on the Sweet Snacksmarket, backed by data and real-world examples.
These insights, available exclusively through Technavio, provide an unparalleled significant impact of AI on the Sweet Snacks market, backed by real-world examples and data.
The report provides details of AI's impact on various segment
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Research Framework
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.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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