According to a recent study report published by the Market
Research Future, The Global Specialty Snacks Market is booming and is projected
to gain prominence over the forecast period growing rapidly. The market is
forecasted to demonstrate a spectacular growth by 2023, surpassing its previous
growth records in terms of value with a striking CAGR from 2017 to 2023.
Owing to various health benefits associated with specialty
snacks consumption as offer it low-saturated-fat, low-sodium content, along
with vitamins, driving the demand among consumers for the product over
conventional snacks. Snacks accounted for a considerable share and holds the
bright spot in the overall specialty food market. With growing trend for snacks
along with changing consumer preferences & food choices leading to buying
specialty food products over mainstream food staples. There has been surge in
specialty foods sales as greater number of consumers turn to the category out
of a desire for products that are better-for-you, natural, organic &
clean-labelled, and have authentic and innovative flavors.
The pursuit of healthy attributes along with major demographic
trends in high growth markets where youth is primarily interested and attracted
to follow the recent trends out of peer pressure, Specialty snacks acting as
bright spot in the food industry along with higher disposable income,
contribute as key driving factors in Specialty Snacks market and create
potential opportunities for industry players.
Latest Industry
Updates:
August 2017, The Kraft
Heinz Company and media icon Oprah Winfrey collaborated and announced the debut
of O, That’s Good!, a line of four flavorful soups and four savory sides that
bring a nutritious twist on comfort food classics to everyone’s table.
Global Specialty
Snacks Market - Competitive Analysis:
With diverse products and
increasing stores offering specialty snacks, Specialty Snacks market has hit
the mainstream. With the entry of new industry players in the Specialty Snacks
segment, a trend of solid, volume-driven growth has been observed in the
market. At present, there are limited number of large and small market players.
Price, quality, product differentiation, distribution, and promotion are the
major factors on which industrial players compete to maintain their market
share. Industrial players are extensively investing on R&D, new product
development, strategic partnerships and collaborations with e-retailers.
Millions of dollars are poured in for product promotion by the industrial players
as products are increasingly marketed as healthy and guilt free snacks.
Manufacturers are diversifying the product portfolio wherein, some high-profile
product lines feature ‘free-from’ in the product name. Industrial players to
sustain and succeed in a competitive environment, look for product
differentiation along with cost savings through a unique and clear value
proposition.
Industrial players are
extensively investing on marketing activities to make strong brand image of
their products and to create an awareness along with keeping strong focus on
product packaging creating brand value. With manufacturers aiming to capture a
considerable share of the market segment as early as possible, they are
competing and experimenting with various advantage points from both supply and
demand side. The key market players profiled in specialty snacks are Kraft
Heinz Foods Company (U.S.), ConAgra Foods, Inc. (U.S.), Diamond Foods, LLC
(U.S.), Calbee, Inc. (Japan), General Mills Inc. (U.S.), Kellogg Company
(U.S.), and Blue Diamond Growers, Inc. (U.S.) among many others.
Global Specialty
Snacks Market – Segments:
The global specialty
snacks market has been divided into product type, ingredients, packaging,
distribution channel, sand region.
On The Basis Of Product
Type: Chips & Crisp, Nuts & Seed Snack, Snack Bars, Bakery Snacks,
Popped Snacks, and others
On The Basis Of
Ingredients: Grains, Cereals, Fruits & Vegetables, Edible Nuts & Seeds,
and others
On The Basis Of Packaging:
Pouches, Boxes, Cans, Cartons, and others
On The Basis Of
Distribution Channel: Store Based, and Non Store Based
On The Basis Of Region:
North America, Europe, Asia Pacific, and ROW.
Complete Report
Details @ https://www.marketresearchfuture.com/reports/specialty-snacks-market-3514
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