Snackificaion Trend Likely to Boost the Market
Growing trend for snackification across the globe has been a crucial factor driving the growth of specialty snacks market over the forecast period (2018-2023). The changing lifestyle of consumers, owing to time constraints and preference for ‘on-the-go’ consumption is expected to influence the growth of the market. Growing health awareness among consumers due to incidence of obesity and diabetes is likely to repel the development of specialty snack market in the years to come. The introduction of new products from various global companies across different flavors and packaging is likely to create potential opportunity for the specialty snacks market over the forecast period. The sports and nutrition industry is expected to influence the growth of the specialty snack market in the years to come.
Snacks Bars to Dominate the Market
The global specialty snack market is segmented by product type and distribution channel. By product type, the market has been segmented into snack bars, bakery-based snacks, nut & seeds snacks, popped snacks, desserts, and others. The snack bars segment is gaining popularity among core and lifestyle users, owing to its convenience of consumption and functionality. By distribution channel, the market has been classified by specialty retail stores, hypermarket/supermarket, convenience stores, online channels, and others. The evolving retail landscape has expanded the wide coverage of global brands across the globe, which in turn, is expected to influence the growth of the specialty snacks market.
North America Likely To Grow at a Steady Pace
Europe was the dominant market for the specialty snacks market. Innovative product offerings at competitive prices from private label brands is expected to drive the growth of specialty snacks market in Europe. The millennial population in this region held a dominant market share as they prefer convenient snacks, which are healthier as compared to other products. The influx of various major brands of specialty snack companies in this region is likely to curb the growth of Asia-Pacific over the forecast period.
Major Players: THE KRAFT HEINZ COMPANY, CONAGRA BRANDS, INC., GENRAL MILLS, KELLOGG COMPANY, PEPSICO, MARS, FRITO LAY’S, BLUE DIAMOND GROWERS, CALBEE, INC. and DIAMOND FOODS, amongst others.
Reasons to Purchase this Report
- Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
- Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
- Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
- Country-level analysis, integrating the demand and supply forces that are influencing the growth of the market.
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
- Comprehensive company profiles, covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel).
1.1 Research Methodology
1.2 Market Definition
1.3 Report Description
2. Market Overview
2.1 Market Trend
3. Market Dynamics
3.1.1 Growing Preference for Private Label Brands
3.1.2 Rising trend of snackification
3.2.1 Wider Scope of Substitutes
3.3.1 Adoption of CleanLlabel and Organic Products
3.4 Porter's Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. Market Segmentation
4.1 By Product Type
4.1.1 Snack bars
4.1.2 Bakery-based snacks
4.1.3 Nuts & Seeds snacks
4.1.4 Popped Snacks
4.2 By Distribution Channel
4.2.1 Specialist Retailers
4.2.3 Convenience Stores
4.2.4 Online Channel
4.3 By Geography
4.3.1 North America
18.104.22.168 United States
4.3.4 South America
22.214.171.124 South Africa
5. Competitive Landscape
5.1 Strategy adopted by Key players
5.2 Most Active Companies in the Past Five Years
5.3 Market Share Analysis
6. Company Profiles
6.1 The Kraft Heinz Company
6.2 ConAgra Brands, Inc.
6.3 Genral Mills
6.4 Kellogg Company
6.7 Frito Lay’s
6.8 Blue Diamond Growers
6.9 Calbee, Inc.
6.10 Diamond Foods