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Snacks Market: Budding Popularity of On-the-go Bars Delineate a Predominant Snacking Trend

July 12, 2019 by Steve Blade  

Fact.MR compiled a report on snacks market for the forecast period of 2017 to 2022. The report portrays current and future scenario of the snacks market backed by meticulous historical and futuristic statistical data. With a motive to provide a balanced outlook of the snacks market, the report offers comprehensive and pre-requisite information of discrete segments of the snacks market to the clients for an in-depth and detailed understanding.

Snacks market will continue to witness an optimistic growth ahead, finds a new Fact.MR research study titled ‘Snacks Market Forecast, Trend Analysis & Competition Tracking: Global Market Insights 2017 to 2022’. The research study projects that approximately xxx of snacks are likely to be sold by 2022 end, with snacks being perceived more than just a stop-gap food consumed between meals. The landscape of snacks market is foreseen to be undergo a sea change in the light of dynamic snacking preferences and high demand for ethically sourced grab-and-go foods. These insights are gleaned from a comprehensive report by Fact.MR, which sheds light on the long-term aspects of  snacks market over the forecast timespan. As per the report, the global snacks market is likely to expand at a moderate CAGR of 5.6% through 2022.

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The report highlights the proclivity of manufacturers to come up with new flavors and varieties by considering the sky high expectations of consumers. As per the report, the demand for snacks will be driven by uncompromising demands for both nutrition and indulgence, and products bridging the gap between these two aspects will be gaining momentum. The rising curiosity of consumers to understand the ingredient base of products has also been addressed by the report, which has led manufacturers to offer transparency of ingredients used.

Budding Popularity of On-the-go Bars Delineate a Predominant Snacking Trend

On-the-go snacking bars are gaining considerable popularity in the snacks market, permitting an influx of new as well as innovative ingredients and flavors. Snack bars steadily replacing complete meals have led the consumers clamor for products with rich and affluent nutritional profiles. With several trends such as non-genetically modified organism (GMO), clean label, low-sugar, gluten-free, and other health-based claims prevailing in the snacks market, manufacturers might have to consistently direct their efforts toward meeting these newfound health standards. Furthermore, evolving protein additives including whey and soy, lentil and many more are making a headway in the snacks market, which can be banked on by the manufacturers of snacks market for long-term gains.

Biscuits are anticipated to be have a promising revenue capture of around US$ 47,813 Mn in the global snacks market by 2022 end, according to the report. The demand for different product types is impacted by multiple factors, ranging from nutritional affluence to portability convenience. While fruit snacks remain the second most attractive product, bars are anticipated to witness monumental sales in the snacks market. The prosperity of bars in the landscape of snacks market can be attributed to the fact that snack bars are steadily replacing complete meals, primarily in fast-paced schedules of the working demographic. The study also recognizes several health-based claims such as gluten-free, non-genetically modified organism (GMO), clean label, and low-sugar to drive the demand for snack bars.a

Competitive Landscape

The competitive landscape of the snacks market features names of prominent manufacturers as per their market foothold, which include National Biscuit Industries LTD SAOG, Kellogs, Kraft Foods Group, INC., Nestle SA., Campbell Soup Company, ITC Limited, Mondelez International, INC., Lotus Bakeries NV, Britannia Industries Limited, and CALBEE, Inc.

Britannia Industries Limited, a leading player of the snacks market, unveiled its new logo and is on the process of launching around 50 new products to celebrate its centenary. Moreover, it has also established a successful partnership with Greece-based Chipita to launch its own new line of croissants.

Nestle S.A., a prominent player in the snacks market, is making sincere efforts to support healthier lifestyles through its products. The brand has made forward-looking commitments to curtail sodium, sugars, and saturated fats and include healthy ingredients like fiber-rich grains, vegetables, and micronutrients in their offerings.

Additional Questions Answered

Some of the key questions answered in the report for snacks market include-

  • Which product is likely to flourish in terms of demand in the snacks market, biscuit, bars, or fruit snacks?
  • Which distribution channel will gain momentum in the snacks market over the time?
  • Which source type in the snacks market will occupy a large revenue chunk?

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