DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Snack Food Market - Growth, Trends, and Forecasts (2016 - 2021)" report to their offering.
The introduction of new products with a focus on functional ingredients has been observed as the major trend in the snack food market in the last five years. As major product launches, Mediterranean Snacks ® launched BeanStalks, Boulder Canyon Foods launched Protein Crisps, and General Mills launched Gluten-Free Snack Bars. Given the major breakthroughs in terms of product innovations and assortment, the global market for snack food is expected to reach USD 620 billion by 2021, growing at a CAGR of 5.8%.
Snack food has emerged as an alternative to full-fledged meals with the paradigm shift in consumer behavior patterns. The higher disposable incomes as a result of the growing urbanization and increasing preference for convenience food have triggered the growth of the snacks industry. The rising health consciousness among consumers and government regulations regarding procurement of raw materials like vegetables, meat, etc. are restraining the growth of snack food consumption to some extent. Innovative product offerings with regards to functional ingredients and organic foods may provide a future growth opportunity in the sector.
The global snack food market is segmented by type into salted snacks, bakery snacks, confectionery, specialty & frozen snacks. The bakery snacks segment possesses the highest market coverage, while the salted snacks including potato chips, corn chips, tortilla chips, popcorn, pretzels, etc. are expected to have the highest market growth during the forecast period.
Some of the major global players operating in the industry are:
- Calbee Inc.
- ConAgra Foods Inc.
- Ferrero S.P.A.
- General Mills Inc.
- The Kraft Heinz Company
- Tohato Inc. (Japan)
2. Research Approach & Methodology
3. Market Overview
4. Market Segmentation
5. Competitive Landscape
6. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/v8hqnk/global_snack_food