Global Processed Snacks Market: Market Overview
Processed snacks have a wide range of products including various categories. The processed snacks are offered in various packaging including food items containing various ingredients. Processed snacks offer more convenience for consumers and include food products that are cooked, processed, canned, frozen food products.
Many manufacturers offer highly nutritional snacks with the changing consumers’ preference towards healthy food. Processed snacks can be categorized based on the source including plant-based snacks and animal-based snacks. With the increasing demand from consumers for healthy and convenient snacks, the processed snacks market is expected to grow over the years.
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What are some of the recent trends in the processed snacks market?
Snacking is one of the common trends among consumers across the world, with a busy lifestyle and less time for cooking. Snacking is seen as a part of the daily lifestyle among the consumers and incorporating snacking into their daily routine. Consumers are looking at snacking as an important habit for comfort, and consumption of tasty food products.
Manufacturers in the segment are focusing on offering high-quality snacks with healthy ingredients with the changing consumer preferences. With the new distribution channels for snacks, consumers are opting for virtual shopping through various online retail channels. Thus with the growing trend for snacking the processed snack market is expected to benefit.
Why is the Healthy Snacks Preference Increasing sales for Processed Snacks?
Consumers are shifting towards more healthy eating habits with a preference for functional food products. The healthy snacks market is growing in the developed countries such as U.S., U.K. France, Italy, and others with the increasing demand from millennial consumers. Consumers are asking for more natural, non-GMO, vegan, and high-protein snacks.
With the growing awareness among the consumers about healthy and non-healthy food products, many manufacturers and foodservice outlets are including healthy, nutritious ingredients in their products. With the adults educating the children about healthy food products the children are likely to go for healthier snack products.
This has increased demand for granola bars, protein bars, low-fat snacks, and beverages. Consumers now more often check the ingredients used in the packaged snacks while shopping and are willing to pay a premium amount for the healthy options. With the healthy snacking trend among the consumers the processed snacks market is expected to grow over the years.
What are some restraining factors affecting the processed snacks market?
There are a lot of misconceptions among the consumers about the processed snacks as they go through mechanical processes and lose nutritional benefits. Ingredients including salt, sugar, and fats are added to the processed snacks to enhance their flavor, shelf life, and others that can influence the buying behaviour of the consumers looking for more healthy alternatives. Such food products also are high in calorific value thus seeing fewer sales in the health-conscious consumer markets.
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Competitive Landscape
The key players operating in the global processed snacks market are Kraft Heinz
- Kellogg Co.
- Nestle
- Mondelez International
- PepsiCo Inc.
- General Mills
- Grupo Bimbo
- Campbell Soup Co
- Conagra Brands
- Post Holdings
- B&G Foods
- Blue Diamond Growers
- Arca Continental S.A.B. de C.V.
- The Hershey Co.
- Gruma S.A.B. de C.V.
- The Hain Celestial Group
- others.
What are the Strategies Adopted by the Key Players Operating to Increase Their Product Sales?
The manufacturers in the processed snacks market are focusing on improving their product quality and product offering. The companies are launching new flavors, types of products, to attract new consumers. The companies are using different marketing strategies for attracting more consumers, including promotional strategies, events, and others.
- In 2021, Kellogg’s introduced crackers in two different delicious including Club Crisps and Town House Dipping Thins. The company is launching a promotional event for customizing popular snacks with the help of consumers. Kellogg’s is one of the leading companies in the processed snack market offering a wide range of products for consumers across the globe.
- Mondelez International focuses on the emotional well-being of the consumers while producing snacks, along with health and nutrition. The company is investing in research and development for offering healthy and nutritional options for their consumers. Thus with the changing consumer’s preferences, the manufacturers are introducing new products.
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