What is Specialty Snack Market Scope?
The global specialty snacks market is expected to witness high demand in the forecasted period due to the new trend of a healthy lifestyle, modern consumers seek simpler and healthy formulations, flavors, and diet formats. Snack food has emerged as an alternative to full-fledged meals with the paradigm shift in consumer behavior patterns. Owing to the numerous health benefits associated with nuts and seeds, it is a popular and healthy snacking option for consumers. Tree nuts, such as almonds, hazelnuts, cashew nuts, walnuts, and pistachios, as well as seeds, such as chia seeds and flaxseeds, are nutrient-dense foods, each with a unique composition.
The Specialty Snack market study is being classified by Type (Snack Bars, Bakery-based Snacks, Nuts and Seeds Snacks, Popped Snacks and Others) and major geographies with country level break-up. According to AMA, the Global Specialty Snack market is expected to see growth rate of 6.0%
The global especially snacks market is a consolidated market with few major players. Small players are also coming up with innovations and new product launches to make their mark in the competition. Major players are expanding their geographical reach and product portfolio to maintain as the market leaders. Research Analyst at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Specialty Snack market throughout the predicted period.
The Kraft Heinz Company (United States), Conagra Brands Inc. (United States), General Mill, Inc.(United States), Kellogg Company (United States), Pepsi Co. (United States), Nestle SA (Switzerland), Mars Incorporated (United States), Blue Diamond Growers (United States), Calbee, Inc. (Japan) and Diamond Foods, LLC (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are FamousFoods, Inc.(United States) and Sukhadia Foods (United States).
Analyst at AMA have segmented the market study of Global Specialty Snack market by Type, Application and Region.
On the basis of geography, the market of Specialty Snack has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Market Trend
- The growing double-income families and nuclear families
- The increasing demand for on the go convenience foods
- The increasing number of independent working women
- High consumption of ready-to-eat food
- The increased willingness to spend on such food
- Changing food consumption behavior among consumers
- Innovative products in functional ingredients, convenience, and organic foods and advancement in areas of packaging technology
- The Stringent government regulation Associated with Food Products
Key Target AudienceSpecialty Snack Providers, Government Regulatory Bodies, PrivateReaserch Organization, Government Research Organization and Others
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