Dated: 17 March 2008
The world snack foods market stands enthused by the growing emphasis on convenience laid by time-constrained consumers according to new report by Global Industry Analysts, Inc. Changes in lifestyles, and paucity of time are bringing to fore the time-elevating advantages of snack foods.
Easy on-the-go portable packages, such as stand-up pouches, single-serve/ bite-sized packs, resealable bags, and finger-hugging canisters, which add a new dimension to the concept of added convenience, is expected to emerge into a major product variable for commercial success.
Health-driven snackers are setting into motion strong demand for healthy, low fat, low-calorie, organic, fiber-rich, vitamin, mineral fortified snacks, while carefree snackers are igniting demand for diverse taste and flavor profiles to quench their indulgent carvings.
The trend towards healthy eating is expected to spruce up market opportunities in the snack nuts market, given the rising levels of awareness over the perceived wholesomeness of nuts, which are rich in unsaturated fats, antioxidants, and omega-3 fatty acids.
The rise in popularity of protein-rich diets is expected to take demand for meat-based snacks to a new high. Meat snacks are expected to continue to play on the meal replacement trend, by lending itself as a healthful, convenient snack.
Stringent regulations over labeling of trans-fat content in packaged foods in the developed markets are additionally expected to drive the popularity of TFA (trans-fatty acids) free snack products.
Continuous innovations in flavors, and tastes, especially exotic, and sophisticated flavors, are expected to help the market score huge gains in the upcoming years.
Asia-Pacific offers ample opportunities for growth in the global market, driven largely by the region's high population density, strong economic growth, growing disposable income, liberalized import policies, and greater willingness to shift from traditional food to western diets.
As stated by the recent report published by Global Industry Analysts, Inc., volume sales of snack foods, in the global market, are expected to rise by 9.8 million tons between the period 2007 to 2010.
Strong volume gains are expected to stem from Europe, Asia Pacific, and Latin America, with projected growth in these regions ranging from 6% to 7% over the period 2001-2010.
Strong dollar growth is expected to stem from the world meat snacks market, with the United States leading growth with a projected CAGR of 7.6% over the 2001-2010 period.
In Asia-Pacific, sales, in the cheese snacks, and pretzels markets, together, are expected to reach 296.5 thousand tons by the year 2010.
|
