Parent
Market Analysis
The
snack food industry sector comprises of manufacturers of salted
snacks, bakery snacks, confectionery, and specialty & frozen
snacks. The salted snacks are further classified into potato chips,
tortilla & corn chips, meat snacks, snack nuts, popped
snacks, popcorn, cheese snacks, & others. Europe is most
dominant market followed closely by North America, both combined
contribute to the majority of worldwide snack market. Annual snack
sales are growing quickly in the developing regions. Asia-Pacific and
Latin America markets are increasing at above average CAGR, while
sales in the Middle East/Africa has also shown significant growth.
With the increase in western style eating habits to other parts of
the world and busier lifestyles, the traditional family meal time is
losing its share of time.
Popped
Snacks Market Overview
Popped
snacks holds an essential place under snacks segment owing to its
benefits such as low-calorie with high protein content, which is
preferred by people with quick snacking habits. Popped snack market
is segmented by ingredients, by type, and by geography. The growth of
popped snacks is due to changing lifestyle and agile approach toward
health have resulted in the increased consumption of snack foods in
recent years. Popped snacks are subjected to heat and pressure until
they pop. No frying and baking is required hence giving an impression
of being healthier snack option.
Popped
Snacks Market Value and Forecast:
The
snack food production industry has benefited from increased demand
over the past few years. As the economy has continued to develop,
income levels have soared and the time to prepare meals have
shortened and quick snacking has evolved. The popped snack food
providing healthier choice to the consumer has grown significantly
and expected to grow at higher rate in the forecast period
(2016-2016), where developing nations in Asia and Latin America will
contribute significantly.
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Popped
Snacks Market Segmentation
Popped
snacks can be segmented by ingredients like corn, rice, potato,
chickpeas, or a mix of those. Popped snacks prepared from potato and
corns contributes around 50% followed by popped rice snacks (20%) of
the global consumption share, and available in different flavors and
added ingredients like humus, multigrain and barbeque.
Popped
snacks market can be classified by major types, i.e. sweet, mix of
salty and sweet and salty. Taste preferences for snack options are
significantly different around the world. Salty popped snacks has
dominant share in the popped snacks market followed by mix of salty &
sweet and sweet popped snack.
Geographically,
Europe is expected to be the leading player in popped snack in terms
of sales volume followed by North America. Due to increasing health
awareness in Asian and Latin –American market the consumption of
popped snack is set to show rapid growth as compared to Europe and
North America.
Popped
snack market can further be segmented on the basis of distribution
channel includes super/hyper market, retail stores, online. The
popped snacks market is dominated by the super markets, creating a
shift of buying power from manufacturer to retailers. Major players
like PepsiCo, ConAgra etc. prefers to deliver the product directly to
the retailer, and enjoys greater shelf space and last but one direct
contact with the end users. Other distribution channel includes
whole-sellers, which are prominent but not very beneficial when it
comes to snack market. Whole-sellers buys the product from
manufacturers and supply it to retailers, adding another level in
distribution channel.
Popped
Snacks Market Drivers and Trends
Innovation
stands out as a major growth driver, sparking the market’s
expansion both in terms of value and volume. Fast growing economies
in Asia Pacific, Latin America, and Eastern Europe spell strong,
attractive, and lucrative business opportunities driven by strong
economic growth and increased westernization of diet patterns. Popped
snacks demand is primarily driven by taste and health considerations
and consumers desire both benefits in the snacks. The fact that
popped snacks is a healthier option, containing less fat compared to
fried potato chips, no artificial colors, flavors and no
preservatives also act as a driving factor.
Popped
Snacks Market – Key Players
The
competitive landscape in the snacking industry is fierce. Major
players are introducing new products and categories in popped snacks
market very rapidly. Popchips and Walker (PepsiCo.) are the dominant
players in the popped snack market. Frito-Lay and Kraft Foods Inc.
have long enjoyed hearty market shares in snacks and are diversifying
to cater popped snacks market. Other major players are Kettle Foods,
Ferrero S.P.A., Kellogs Co., General Mills, Snyder's-Lance and
ConAgra Foods.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth insights, understanding market evolution by tracking
historical developments, and analyzing the present scenario and
future projections based on optimistic and likely scenarios. Each
research report serves as a repository of analysis and information
for every facet of the market, including but not limited to: Regional
markets, technology developments, types, applications, and the
competitive landscape.
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