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Corn Snacks Market (Type - Corn Chips, Extruded Snacks, Puffed Snacks, and Ready-to-eat Popcorn; Distribution Channel - Modern Trade, Specialty Food Stores, Online Stores, and Convenience Stores & Dollar Stores): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : May, 2021

  • Rep Id : FB0288

  • Category : Food & Beverages

  • Status : Published

A recent report published by Infinium Global Research on the corn snacks market provides in-depth analysis of segments and sub-segments in the global as well as regional corn snacks market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional corn snacks market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global corn snacks market. According to the report, the global corn snacks market is projected to grow at a CAGR of 4% from nearly USD 7.5 Billion in 2020 to USD 9.5 Billion in 2026 during the forecast period of 2020 - 2026.

 

Market Insight

Corn snacks have become an important part of our diet and constitute one of the fastest-growing segments of the food industry. Particularly, the sales of corn chips, tortillas, and popcorns have grown enormously over the past years. Corn snacks are tasty and affordable food products that have a relatively low carb value as compared to other snacks. Corn snacks have gained immense popularity, especially among the growing health-conscious population. A tremendous transformation in the snack segment due to continuous urbanization, the growth of nuclear families, and the rapid rise in dual-income households have further boosted the demand for corn-snacks in the market. With the changing socio-economic pattern of life and the increasing number of working couples, corn snacks will become popular in the global market.

 

Corn is not a high-glycemic food, ranking low or medium on the glycemic index. Corn-based snacks contain a fair amount of fiber. 112 grams of popcorn has approximately 16 grams of fiber. It is also a decent source of protein, the protein content ranges from 10–15%. Roasted corn flakes are a rich source of fiber, nutrition, vitamin, and minerals, and are also low in cholesterol. Furthermore, they contain low fat and are easier to digest. Similarly, a 100 g serving of potato chips contains 6.56 g of protein but a whopping 36.4 g of fat. The same amount of tortilla chips contains 7.79 g of protein and 23.36 g of fat. Moreover, present consumers have also become increasingly conscious about their health and wellness. These nutritional benefits offered by corn-based snacks when compared to potato snacks drive its adoption among the health-conscious population.

 

The corn-snacks market is projected to follow a positive growth trajectory as increase in snacking is one of the observed changes in actual purchase and consumption behavior among the consumers due to COVID-19 lockdowns and work-from-home transitions. Corn snacks, particularly, tortilla chips have been on a growth trajectory. As the pandemic drove consumers to salty snacks, tortilla chips were among the highly desired snacks. However, as a negative consequence of the Covid-19 outbreak, several medium scale companies reduced the production capacity due to the shortage of laborers in the midst of a slowdown and health concerns. However, as the lockdown measures eased, the industry has gained stability in terms of production.

 

However, corn-snack foods compete against other “impulse” food items, including chocolate, cookies, and crackers, baked goods, fruits, and vegetables, and fast food, which makes the competition very intense. In addition, protein-rich snacks are gaining prominence, such as jerky products, nut butter, nuts, and seeds, and plant protein-based snacks. Moreover, high-protein nutrition bars are also hitting the market. Also, other plant-based proteins are continuing to gain traction across the snack aisle, which in turn, increases the availability of other substitutes in the market. In addition, continual interest in carb alternatives will harm the market of corn snacks. Moreover, innovations in corn-based snacks and the emergence of online delivery services provide a significant growth opportunity for the market.

 

Among the geographies, North America holds the maximum market share in the global corn snacks market. North America regions dominance in the global corn snacks market is attributed to factors such as high disposable income and rapid expansions of modern trade that have significantly influenced the growth of the corn snacks market in the region. Furthermore, Europe is the second-largest market for corn snacks owing to the evolving lifestyle and changing dietary habits in this region. Moreover, the Asia Pacific corn snacks market is expected to grow with the fastest CAGR over the forecast period. The Asia Pacific region is expected to witness the fastest growth during the projection period owing to the radical changes in the food consumption patterns due to increasing globalization. South America and Middle East & Africa are likely to expand at a healthy pace in the coming years owing to the heavy investments in the food sector.

 

Segment Covered

The report on global corn snacks market covers segments such as type, and distribution channel. On the basis of type, the sub-markets include corn chips, extruded snacks, puffed snacks, and ready-to-eat popcorn. On the basis of distribution channel, the sub-markets include modern trade, specialty food stores, online stores, and convenience stores & dollar stores.

 

Corn Snacks Market


Companies Profiled:

The report provides profiles of the companies in the market such as PepsiCo Inc, Calbee Inc, Nestle S.A, General Mills Inc, Herr Foods Inc, Popchips Inc, Wise Food Inc, The Kraft Heinz Company, Evans Food Group Ltd, and A.V Thomas Group.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of corn snacks market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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