Global Baked Savory Snacks Market 2016-2020
About Baked Savory Snacks
Baked savory snacks fall under the snacks food category; The ingredients mainly used in baked savory snacks include potato, corn, nuts, seeds, wheat, rice, tapioca, and oats. Baked savory snacks are consumed in between meals. Their consumption has increased as breakfast items, after dinner snacks, and food items for social gatherings and celebrations.
Technavio’s analysts forecast the global baked savory snacks to grow at a CAGR of 4.03% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global baked savory snacks for 2016-2020. To calculate the market size, the report provides each of the leading vendor's performance and market positions in terms of experience, product portfolio, geographical presence, and financial condition.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Baked Savory Snacks 2016-2020
Technavio recognizes the following companies as the key players in the global baked savory snacks: American Pop Corn, Calbee Foods, ConAgra Foods, Diamonds Foods, Kellogg, and PepsiCo.
Other prominent vendors in the market are: Amica Chips, Aramidth International, Arca Continental, Axium Foods, Aperitivos Flaper, Butterkist, Hain Celestial, ITC, JFC International, Quinn, and Want Holdings.
Commenting on the report, an analyst from Technavio’s team said: “One of latest trends in the market is increasing penetration of media and entertainment industry. The US media and entertainment market, which represents a third of the global industry, was valued at approximately $546 billion in 2014. A rise in ticket sales has contributed to an increase in the sales of baked savory snacks such as popcorn and baked extruded snacks. A rise in the number of people watching movies at home has also contributed to the increased sales of baked savory snacks. Increase in visits to theaters, the rising number of theaters, and greater need for entertainment on weekends due to hectic work schedules among the urban population will also support the increased consumption of baked savory snacks during the forecast period.”
According to the report, one of the primary drivers in the market is rapidly changing consumption pattern. The average number of baked savory snacks between meals grew rapidly from 1.9 per person per day in 2010 to 2.8 in 2014. Nowadays, consumers are leading a fast-paced life, resulting in a lack of time to prepare food. Working population and students look for RTE food products that fulfill their appetite, which are easy to eat and mess-free and eliminates long lines in the cafeteria. Furthermore, they are also used as snacks between meals.
Further, the report states that one major challenge in the market is global assortment and distribution. Product assortment and distribution are the two major aspects of any packaged food. Placing products in the right marketplace with a strong distribution network is always challenging for the snack manufacturers. Finding significant opportunities that fit the market culture, dynamics, and taste preferences require a crucial and in-depth insight of the retail landscape and consumer trends that drive the purchase habits.
American Pop Corn, Calbee Foods, ConAgra Foods, Diamonds Foods, Kellogg, PepsiCo, Amica Chips, Aramidth International, Arca Continental, Axium Foods, Aperitivos Flaper, Butterkist, Hain Celestial, ITC, JFC International, Quinn, Want Holdings.