The
World Health Organization (WHO) states that the worldwide prevalence
of obesity has more than doubled itself since 1980. In 2014 the WHO
reported that more than 600 million adults aged 18 years and above
were obese. The increasing incidence of obesity and other health
disorders spurred by insalubrious diet and lifestyle has become a
global concern. Such growing awareness regarding health and wellness
is a key factor giving impetus to the global
crackers market.
Usually
made of multi-grain and flour, crackers constitute the core of the
consumer segment in the food industry that is driven by health and
wellness concerns. These consumers are mostly attracted to snacks
processed from healthy ingredients such as legumes, vegetables,
ancient grains, and high protein foods. With leading vendors
continuing to launch more variants of healthy crackers, the market is
expected to exhibit substantial growth in the near future. The four
most popular categories of crackers available in the market are
flaked soda crackers, graham crackers, cheese crackers, and others.
Based on geography, the market can be segmented into North America,
Europe, Asia Pacific, and Rest of the World.
The
report studies and presents an executive level blueprint of the
global crackers market. The report analyzes the market on three
fronts: application, end user, and industry vertical. Each of these
segments are further sub-segmented on which a detailed analysis is
conducted. The report also provides the growth forecasts for these
segments.
Overview
of the Crackers Market
The
global crackers market is likely to demonstrate a positive CAGR
between 2016 and 2023. The consumption of crackers has increased
considerably around the world. These healthy snacks are available in
different varieties and flavors, which subsequently has fuelled their
popularity in the global market. Since, crackers are made from
nutritional ingredients, they are increasingly preferred over other
snacks for household consumption.
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The
most prominent names in the restaurant industry have also included
crackers as popular snacks in their menu. Served alongside wine,
soups, sea-foods, and salads, the growth prospects for crackers in
the next few years seem very impressive.
Despite
the crackers market witnessing rapid innovation and the entry of new
competitors, comforting and old-fashioned crackers still dominate the
market mainstay. However, inadequate awareness about the presentation
and preparation of crackers and their insignificant shelf presence in
retail stores are the key factors limiting the global crackers
market. Besides, awareness pertaining to the usage of crackers is
limited to niche markets in developed countries. Nevertheless,
shifting lifestyle preference of middle class population in emerging
economies of Asia Pacific such as India and China in the next few
years will boost the growth opportunities for the market.
Companies
mentioned in the research report
Demand
in the global crackers market is driven by the changing dietary
preferences and health considerations of the global consumers. The
profitability of the key players in this market, therefore, is
determined in terms of effective marketing, operational efficiency,
and strong sales force. While large companies enjoy an upper hand in
purchase, distribution, and marketing, smaller companies can attain
competitiveness by manufacturing high-end and sugar-free crackers.
Some of the key companies in the crackers market profiled in the
report are M.Y.San, Nestle, Kellogg's, Mondelez International,
Captain's Wafers, Natures Pear, Bremner Biscuit Company, and Keebler
Company.
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