Market Scenario:
Snacks are consumption of a smaller food intake, generally eaten between meals prepared traditionally from commonly available ingredients such as nuts, fruits, sandwiches, sweets and others.
Market Dynamics:
Drivers
Psychographic factors such as behavior and cultural changes, increasing awareness about supplementary nutrition, consumerism, influence of the media and others are gaining more weight in the market. The availability of variety of forms in attractive packaging has only heightened the pleasures of the taste buds! The growing popularity of convenience foods and convenience stores, attractive advantages such as being less perishable and more portable, coupled with the inclusion of appealing ingredients such as chocolate, peanuts, and specially designed flavors, sweeteners, preservatives and others have added to the attractions of the market. Advent of mass communication and entertainment has made snacks a deliberate and purposeful consumption occasion from what was an occasional, and impulsive, in-between munch!
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Commercial drivers of the market are development of global supply chains, booming retail sector, efficient supply chain, growing per capita income, creative marketing strategies, demographic shift especially the growing children population, and others are driving the market.
Restraints
Poor image and stigma due to uses of high concentration of preservatives, flavors, competition from low cost unhygienic street vending, concerns over the health benefits and others are hampering the market.
Key Players:
The key players profiled in healthy snack are The good grocer, Mountain house, jummybo, custom varietea, plenty 4 you, bare fruit, Quakers, snack naturally, Sincerely Nuts, food hot issue, Harmony House Foods and others.
Segments:
To generate an accurate assessment of the global healthy snack market the report has been divided by source, nutrition per serving, and regions.
Source – grains and pulses, vegetable, fruit, dried fruit, and others
Nutrition per Serving – low fat, free of trans-fat, sugar free and others
Region –Americas, Europe, Asia Pacific, Middle East and Africa
Regional Analysis:
North American region led by the U.S. possess the largest market share owing to large packaged foods industry, large per capita income, growing awareness, sedentary lifestyles and others. North America is and Europe have large megastores chains such as Walmart and others which are benefiting the market Europe is led by Germany, France and the U.K. U.S., Netherlands, Germany, Thailand and China are the top 5 exporters of snacks. Europe also possess the largest traditional bakery market led by Switzerland, Germany, France, Poland, and others. Argentina, Mexico, Chile and other are expected to dominate the Latin American regions market.
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Asia-pacific is estimated to be the fastest growing market led by China, India, Japan, Australia and others owing to presence of large variety of agriculture foods due to their tropical climate. Turkey represents another market opportunity owing to its tradition of dry fruits.
The Middle East and Africa market is expected to be skewed in favor of the Gulf economies of Saudi Arabia, Kuwait, UAE and others. African market is dominated by semi processed and raw natural snacks.
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