Top Growth Opportunities: Savory Snacks in Brazil
Brazil has one of the largest savory snacks markets in terms of value globally, worth in excess of US$3.5 Billion. Nevertheless, with a forecast CAGR for 2016-2021 of 3.7%, growth within this market is relatively slow, compared to other developed nations. The recent developments in income inequality and internal corruption have placed pressure on diplomatic ties, thus threatening exports. Furthermore, it is rumored that Trump’s administration may enforce protectionist measures, which would ultimately limit exports from Brazil to the US.
Amongst the top ten savory snacks markets, Brazil ranked eighth in terms of per capita expenditure (in US$ terms) in 2016, larger than Saudi Arabia and China. The per capita expenditure on savory snacks products grew at a strong CAGR of 6+% during 2011-2016. This growth is primarily attributed to the large population base residing in urban areas that are leading busy life-styles and spending most of their time out of the home. Consequently, these urban consumers seek savory snacks products available in portable formats that can be carried and consumed while on-the-go.
Brazilian savory snacks market is being led by the processed snacks category which grew at a CAGR of 8% during 2011-2016, and is expected to record the fastest growth during 2016-2021. Nuts & seeds, the second-largest category in the market. On the other hand, pretzels, the smallest category in value terms, are expected to record the slowest growth at a CAGR of 2.2% in the next five years.
The report Top Growth Opportunities: Savory Snacks in Brazil, provides recommended actions and detailed analysis of how to target the best growth opportunities for savory snack producers and retailers. Readers can understand what categories, channels, companies, and consumers will drive the success of savory snacks food markets in Brazil through our detailed and robust data, expert insight, and case studies.
In depth, this report provides the following -
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