Transparency Market Research
Snacking has become a new way to eat for many people above the age of 18 years. Snacking between meals is habitual in most consumers. Snacks have a diverse consumer appeal and are increasingly being consumed across different age groups. Healthy baked snacks provide energy between meals and boost the overall nutrition intake. Nutrition is a key reason for the high consumption of baked snacks; therefore, it is significantly consumed by people on-the-go. Consumers are snacking more than before as these are considered to be healthy and easily available in-between meals. Manufacturers are developing portable pack to make baked snacks made from fruits, vegetables, and meats among others more portable for consumers. Consumers are looking for healthy alternatives to fried potato chips; therefore, manufacturers are producing baked chips, savory and sweet baked cookies, ready to eat popcorn, and others.
Modern consumers demand for health snacks that combine nutrition and convenience. Baked snacks have become popular across the world due to the rise in urban population, increase in number of nuclear families, penetration of media which is attracting novel foods, and higher disposable income. Growing health concerns among consumers and shift toward healthier eating are increasing demand for baked snacks that have trans-fat free, have less salt, and gluten-free, among others. Rise in health consciousness owing to sedentary lifestyle has propelled demand for healthy baked snacks. This is anticipated to create lucrative opportunities in the future for existing and new players. Achieving the right balance between taste, health, and price is likely to be a key challenge for manufacturers.
The global baked snacks market can be segmented based on type, product, source, nutrition, distribution channel, and region. In terms of type, the market can be bifurcated into sweet and savory. Based on product, the backed snacks market can be segregated into baked biscuits, baked extruded snacks, RTE popcorn, and other baked snacks (bars, pies, etc.). In terms of source, the market can be divided into fruits, vegetables, grains & pulses, and others (nuts, meat, etc.). Based on nutrition, the market can be classified into trans-fat free, gluten-free, sugar-free, and others (low fat, low salt, low calorie, etc.). In terms of distribution channel, the baked snacks market can be categorized into hypermarkets/supermarkets, specialty stores, brand outlets, online retailers, and others (departmental stores, convenience stores, independent vendors).
Based on region, the global baked snacks market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the global market closely followed by Europe. Consumers’ need for convenient snacks that can be consumed on-the-go due to the busy lifestyle in the U.S. and Canada is expected to drive the market in North America. The market in Asia Pacific is anticipated to expand at a rapid pace due to rise in urbanization, and change in lifestyle. Furthermore, number of players are entering and working in the snacks industry in India and developing items according to the consumers’ taste.
The baked snacks market is highly fragmented with the presence of various players. Some of the leading manufacturers in the market include General Mills, Inc., Mondel?z International, Inc., PepsiCo, Inc., Nestle S.A., B&G Foods, Kellogg Company, Diamond Foods, Inc., The American Pop Corn Company, ConAgra Foods, and ITC Limited. Manufacturers are increasing R&D capability to increase the range and functions of snacks. They are also introducing various flavors which is anticipated to drive the global baked snacks market. Furthermore, manufacturers are developing low-fat and sugar-free products coupled with natural ingredients, which is also anticipated to propel the global baked snacks market.
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