Global Savory Snacks Market Research, Global Processed Snacks Industry - Ken Research
Processed food is all set to see a
steady growth for a couple of years. In past few years, we have witnessed a
vast diversity of products being introduced as consumer’s preference in terms
of taste is evolving and young consumers are keen to experiment on their choice
of snack. Product innovation is the key to tap every possible potential
customer segment in this competitive industry. Some have chosen to introduce
new products to a wider known umbrella brand while some companies are creating
separate brands for different products however no strategy has been
statistically better or worse than the other. In this quest of the market,
share companies are increasingly introducing local flavors in every market
which are likely to be one of the prime reasons for the growth of the industry
in coming years. Like lay’s including flavors like “Achari masti” in India
which is one of the fastest growing markets for the industry.
According to the report “global processed snacks (savory
snacks) market-outlook to 2020: market size, growth and forecast analytics” By 2020
the processed food industry is likely to pass $15 billion marks globally. In
the developing world millions of people are coming out of poverty every year
and middle class is also witnessing a surge in disposable income which is
increasing per capita food consumption and this coupled with increasing
population is driving the processed food industry in developing countries to
grow at more than 10% year on year since the last couple of years. But
increasing health concerns and “eat right” drives are starting to break the
momentum of the industry. A product like potato chips which have been front runners
for the industry is starting to get edited from the daily eatables list of
consumers. Responding to this threat of massive proportion and to tap the new
health conscious market Industry is investing heavily to develop new products
for e.g. baked potato chips which are a healthy alternative to its fried
counterpart.
In the developing world story is
completely different story. The industry has reached its limits and is likely
to witness next to nothing real growth in years to come. Big players are all
trying to create unique selling points in order to at least hold their market
share and withstand the global competition. But there is a positive change in
per capita consumption of corn chips in Americas and Europe which has higher
margins and thus can improve profitability. This has been the effect of
changing the taste, health ingredient and a wide range of flavors in this
category.
The global market for pork
scratching commonly consumed with alcoholic beverages in Bars is likely to grow
steadily at a healthy rate for few years with America and Europe being its
driving markets. Same is the case with other meat snacks market as well as of
today the Americas is the largest market in meat snacks but in terms of growth
rate, MEA is out performing it by a factor of 1.5X regularly in past few years.
Key Topics Covered in the Report
Global Processed Snacks Industry
Global Savory Snacks Market
Research
Global Processed Snacks Market Size
Global Corn Chips Market Analysis
Global Processed Snacks Market
Volume
Global Processed Snacks Market
Future Outlook
Global Processed Snacks Industry
Competition
North America Processed Snacks
Industry
Europe Processed Snacks Industry
Asia Pacific Processed Snacks
Industry
Global Frozen Food Market Research
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