LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent savory snacks market in the US 2017-2021 report. This market research report also lists 10 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the savory snacks market in the US is highly fragmented due to the existence of numerous savory snack manufacturers. Economic developments leading to improved living standards, increased per capita income, and changes in spending patterns and lifestyles are expected to benefit the manufacturers during the forecast period.
“The right positioning of savory snack products through a strong distribution network and marketing of the key product features to the consumer base is vital for manufacturers in the market. Vendors are expected to churn out aggressive product promotion and marketing strategies for the launch of new products in the coming years. Manufacturers need to have a thorough knowledge of the culture, dynamics, retail landscape, consumer preferences, and purchase habits prevailing in the market before launching new products,” says Akash Pandey, a lead analyst at Technavio for food research.
The report also states that intense competition among players and the raw material price fluctuations constitute a significant risk for vendor operations. Hence it is imperative for the manufacturers to distinguish their product and service offerings through a unique value proposition to succeed in the market.
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Technavio market research analysts identify the following key vendors:
Calbee mainly produces and sells snack food items like potato-based snacks, flour-based snacks, processed bread and cereals, and corn-based snacks. Some of its products include potato chips, shrimp crackers, vegetable snacks made from peas; spinach; corn; and sweet potatoes, fruits granola, cookie-type cereals, and potato sticks.
Kellogg and its subsidiaries engage in the production and marketing of ready-to-eat cereals and convenience foods across the world. The company has been focusing on strengthening its US snack business by changing its distribution strategy to adapt to the changing consumer shopping patterns. The company functions in the savory snacks market through its offerings under brands such as Pringles, Cheez-IT, and Special K.
Lamb Weston is a leading global supplier of frozen potatoes, sweet potatoes, appetizers, and vegetable products to retailers and foodservice outlets across the globe. The company focuses on inventive thinking by continuously focusing on possibilities and potential for introducing new products. This helps the company to accelerate new product development to keep in touch with ever-evolving consumer tastes.
McCain Foods is a leading food company that focuses on innovation to supply a wide range of processed products to retail and foodservice industries. McCain Foods has now emerged as the largest global manufacturer of frozen French fries and potato specialties. The company focuses on driving sustainable and profitable growth for future generations by sourcing good quality food ingredients and providing convenience foods to its customers.
PepsiCo is a global provider of F&B. The key businesses of the company include Quaker, Tropicana, Gatorade, Frito-Lay, and Pepsi-Cola. The LAY'S and Ruffles brands of potato chips are known for their lip-smacking taste. The company focuses on creating products that satisfy customer needs by developing products with reduced sugar content, reduced saturated fat and salt contents, and increased good nutrition.
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