DUBLIN--(BUSINESS WIRE)--The "The Global Tortilla Chips, Pretzels and Expanded Snacks Market and the Impact of COVID-19 in the Medium Term" report has been added to ResearchAndMarkets.com's offering.
This report presents a strategic analysis of the global tortilla chips, pretzels and expanded snacks market and a forecast for its development in the medium term, taking into account the impact of COVID-19 on it. It provides a comprehensive overview of the market volume and value, dynamics, segmentation, characteristics, main players, prices, international trade, trends and insights, growth and demand drivers, challenges, etc.
This is the most detailed (COVID-19 updated) and comprehensive report about the global tortilla chips, pretzels and expanded snacks market, covering all global regions and 151 single countries. The report presents information on each indicator for each of the 151 countries covered, offering unmatched value, accuracy and expert insights.
Market Insights
The global tortilla chips, pretzels and expanded snacks market was equal to 46.76 billion USD (calculated in retail prices) in 2014. Until 2024, the tortilla chips, pretzels and expanded snacks market in the world is forecast to reach 70.33 billion USD (in retail prices), thus increasing at a CAGR of 3.57% per annum for the period 2019-2024. This is a decrease, compared to the growth of about 4.76% per year, registered in 2014-2018.
The average consumption per capita in value terms reached 9.89 USD per capita (in retail prices) in 2014. In the next five years, it grew at a CAGR of 2.79% per annum. In the medium term (by 2024), the indicator is forecast to slow down its growth and increase at a CAGR of 2.21% per annum.
As an overall, the market for most snack foods is projected to continue its positive trend. Some of the most important factors, driving the snack foods industry in the next few years are expected to be convenience and portability, health and safety, as well as category innovation. Tortilla chips, pretzels, expanded snacks, as well as nuts and seeds, are becoming more suitable for the new and improved lifestyles of today's consumers. The increasing interest in healthier diets is also projected to offer opportunities in the segment of special foods that are differentiated through health, functional, organic or indulgent aspects.
Another important demographic factor is the urbanization of the population - more and more people are moving from rural areas to urban ones. All these trends tend towards a busier and more active lifestyle, in which the consumers do not have that much free time. Consequently, most of the people, nowadays, have little time to prepare and cook meals from scratch, due to which are more likely to opt for quick and convenient meal options.
As it becomes difficult for people to find the balance between family, work and personal priorities, it is no surprise that most consumers prefer ready meals, takeaway and delivery instead of cooking, as well as snack foods such as tortilla chips, pretzels, extruded snacks, expanded snacks, potato chips, nuts and seeds. This is especially valid for younger generations, particularly millennials. So, snack foods have become especially popular among consumers, who would rather spend more time on non-cooking activities.
At the same time, people are also looking for healthy varieties of snacking. Dried fruit has natural sugar, that is considered healthier, which is why the use of fruit as a replacement for sugar has been considerably growing. Meanwhile, dried fruit use in snacking is also gaining traction and companies are exploiting this trend by offering snackable dried fruit, nuts and seeds, most frequently in the form of bars. In addition, fruit-based snacking and bars are usually packaged into convenient individual items and are being redefined as somewhere between healthy and indulgent.
The report on the global tortilla chips, pretzels and expanded snacks market covers:
- Market volume, value and dynamics for the last five years;
- Market segmentation (by region and each covered country; by product groups, etc.) for the last five years;
- Analysis of the factors, influencing the market development (market trends and insights, drivers and challenges) and the impact COVID-19 has and will have on the market in both the short and the medium term;
- Value chain analysis and structure of price formation;
- Analysis of retail price levels and their dynamics for the last five years (broken down by region and each covered country);
- Analysis of the major international trade flows;
- Volume, value, dynamics, segmentation (by region and each covered country) and analysis of imports for the last five years;
- Volume, value, dynamics, segmentation (by region and each covered country) and analysis of exports for the last five years;
- Volume and dynamics of the average import and export prices for the last five years (broken down by region and each covered country);
- Volume, value, dynamics, segmentation and analysis of per capita consumption for the last five years (broken down by region and each covered country);
- Forecast for market development in the medium term (volume, value and segmentation by region and each covered country);
- Characteristics of the main players on the market;
- Analysis of the competitive landscape;
- Five Forces analysis;
- Analysis and forecast for the global economy and demographics.
For more information about this report visit https://www.researchandmarkets.com/r/dobnf5
