Global Processed Snacks Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Processed Snacks Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global processed snacks market report has been segmented on the basis of snacks type, sales channel, and region.
Global Processed Snacks Market: Overview
Processed food can be defined as a kind of food that is altered in terms of taste, texture, or changing it from one form to another form. A processed snack is obtained by changing its original form by adopting various processes such as drying, cooking, freezing, salting, smoking, canning, pickling, and baking during preparation.
Global Processed Snacks Market: Dynamics
Increasing population across the globe and rising disposable income are some of the major factors projected to drive growth of the processed snacks market. In addition, growing consumption of convenience food among the working population, owing to their busy schedule of work is a factor expected to support the revenue growth of the target market. New entrants are launching a new range of healthy snack food products in order to compete with the existing players of the market. For instance, Indian-based industrial conglomerate company RP–Sanjiv Goenka Group announced its entry into FMCG business by launching snack foods series called as ‘Too Yumm’ and according to the company, these products are ‘baked not fried’ and have approximately ‘40% fewer fats’ which makes it as a healthier snack option.
key trends observed in the global market are the availability of the snack food in various savory and fruit flavors.
However, fluctuating cost of various raw materials used such as potatoes, nuts, corns, etc. is one of the key factor expected to hamper the global market growth. In addition, some of the manufacturers use preservatives in their snack food products to extend the shelf life, and excessive consumption of such products may cause severe health issues, which is another factor projected to challenge growth of the target market.
Global Processed Snacks Market: Segmental Analysis
Among the snacks types segment, the sweet snacks segment is projected to account for significant shares of the global market, in terms of revenue. This can be attributed to growing consumption of bakery items, confectioneries, and other related sweet snacks among the youth population, especially kids.
Among the sales channel segments, the supermarkets and hypermarkets segment is expected to register significant growth, which can be attributed to the availability of the multiple variants of processed snacks food at a single place.
Global Processed Snacks Market: Regional Analysis
Asia Pacific is expected to dominate the processed snacks market and continue its dominance during the forecast. This is attributed to the strong presence of food processing units in the region. In addition, growing base of the working population, especially women populace is creating a huge demand for ready-to-eat and on-the-go food products, owing to their busy lifestyle. This is a factor expected to support the revenue growth of the target market. North America is expected to account for significant shares of the processed snacks market over the forecast period. This is owing to growing consumption of convenience food and healthy snacks. Furthermore, increasing awareness regarding benefits associated with healthy food consumption is another factor expected to propel the target market growth.
Global Processed Snacks Market Segmentation:
Segmentation by Snacks Type:
- Sweet Snacks
- Savory Snacks
Segmentation by Sales Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Independent Retailers
- Online Retailers
- Specialist Retailers
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Estimated Year 2020 Actual Year 2021 Forecast Period 2021–2030 Revenue in US$
- Aviko B.V. (Coöperatie Koninklijke Cosun U.A.)
- Calbee, Inc.
- General Mills Inc.
- Hormel Foods Corporation
- Intersnack Group GmbH & Co. KG
- Kellogg Co.
- McCain Foods Limited
- Conagra Brands, Inc.
- PepsiCo, Inc.
- Tyson Foods Inc.
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