Global Trail Mix Market - Growth, Trend and Forecast (2018 - 2023)
The global Trail mix market is expected to register a CAGR of 5.6% from 2018 to 2023. The global retail sale of sweet and savoury snack is growing at a rate of 7% which was valued at USD 125 billion in 2014. Trail mix is a sweet and savory snacks which is to be taken along on hikes due to its convenience and health benefits. The exponential growth in the usage of this product is attributed to its various functional and health benefits. It contains nuts, dried fruits, seeds, and even meat snacks and can be used as an appetite suppressant.
Convenience and on-the-go snack trend
Trail mix is gaining popularity among adults and working population due to its nutrition. The innovation in product development such as exotic flavors, packaging and marketing are the various factors driving the market. Packaging of trail mix in various small and convenient packs are actually driving its sale as it is easy to carry. There is a growing demand for nuts and seeds as a part of healthy snacking. Trail mix in combination with nuts/seeds covers cocoa, meat snacks, yogurt like high protein ingredients which makes it more nutritious compared to other alternatives. The trend of consumers who are looking for snacks as a meal replacement or weight management is growing at a faster rate. There is drastic shift observed in the breakfast and snacking due to fast moving lifestyle. Consumers prefer to opt for healthy, small pack of on-the-go breakfast. Trail mix is a great choice for busy morning, after school snacks and game time snacks. Despite of its growing market in North America, trail mix is still a niche segment in snacks in rest of the world. Low consumer awareness in developing region and availability of other snack alternatives are the major restrain for the trail mix market.
Europe is expected to have the highest growth rate during the forecast period due to the growing preference for nuts and seed snacking. North American region has the highest share for trail mix market. US dominates the market for trail mix driven by the growing demand for healthy on-the go breakfast and meal replacement trend. The market for nuts, seeds and dry fruits as a snack is growing at a double digit growth in Western Europe. Trail mix can be easily designed based on the regional taste and ingredient preference which is the major strategy adopted by companies to target sale.Major PLAYERS: MARS INC., TROPICAL FOODS, AURORA PRODUCTS, TROPICAL FOODS’ HARTMAN, SETTON FARMS, ORCHARD VALLEY HARVEST, JERRY'S NUT HOUSE, MUNKI FOOD COMPANY, POWERS CANDY & NUT COMPANY and KAR'S NUT, amongst others.
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