A recent report published by Infinium Global Research on sweet and savory snacks market provides an in-depth analysis of segments and sub-segments in global as well as regional sweet and savory snacks market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional sweet and savory 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 sweet and savory snacks market. According to the report the global sweet and savory snacks market is projected to grow at a CAGR of 6.17% over the forecast period of 2018-2024.
The global market size of sweet and savory snacks was worth USD 144.0 billion and it is projected to reach USD 219.6 billion in 2024. In terms of volume, it is projected to reach to 148.35 MMT in 2024 expanding from 104.94 MMT in 2017. The growth in this market is primarily driven by factors such as changing lifestyles of the consumers worldwide, increasing snacking among the youth and new product launches among others. On the other hand, growing obesity concerns among the consumers, especially, from the developed countries of Europe and North America are likely to hinder the growth in this market over the forecast period. In addition, fluctuations in the raw material prices are likely to restrain the growth in this market over the forecast period.
Moreover, the global trend of preference for organic food is likely to drive the demand for organic snacks over the forecast period. This, in turn, is anticipated to augment the opportunities in the global sweet and savory snacks market over the next six years. Among the regions, the North America region accounted for the largest market share in 2017, while the Asia-Pacific region accounted for the second largest market for sweet and savory snacks. Growing geriatric population in Europe is one of the primary reasons for the sluggish growth in the European sweet and savory snacks market. The significant rise in the population of youth and growing disposable income per capita is likely to augment the growth in the Asia-Pacific region over the next six years. As a result, the sweet and savory market in the Asia-Pacific region is projected to grow at the highest CAGR among the regions in the world market over the forecast period.
The report on global sweet and savory snacks market covers segments such as product type and distribution channel. On the basis of product type, the global sweet and savory snacks market is categorized into crisps and chips, extruded snacks, popcorn, nut-based snacks, pretzels, fruit snacks, and other snacks. On the basis of the distribution channel, the global sweet and savory snacks market is categorized into supermarkets/hypermarkets, convenience stores, service stations, dollar stores, department stores, online and other distribution channels.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2018-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2016-2024.
The report provides profiles of the companies in the global sweet and savory snacks market such as PepsiCo, Diamond Foods Inc., Golden Wonder, Procter & Gamble, The Hain Celestial Group, ITC Limited, Kellogg Company, ConAgra Brands Inc. and Jack Link's Beef Jerky.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global sweet and savory snacks market. Moreover, 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 sweet and savory snacks market. Moreover, the study highlights current market trends and provides forecast from 2016-2024. We also have highlighted future trends in the sweet and savory snacks market that will impact 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. This report will help manufacturers, suppliers, and distributors of the sweet and savory snacks market to understand the present and future trends in this market and formulate their strategies accordingly.
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