LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global trail mixes market predicts a CAGR of more than 12% during the period 2018-2022.
The report segments the global trail mixes based on the type of products such as organic trail mixes and inorganic trial mixes and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global trail mixes market, according to Technavio food and beverage researchers:
- Increasing demand for healthy and on-the-go snacks: a major market driver
- Hybrid snacks: a key market trend
- The market has been segmented into inorganic trail mixes and organic trail mixes
- The Americas dominated the global trail mixes market with 39% share in 2017
- General Mills, Kellogg NA, PepsiCo, The Kraft Heinz Company, and Tropical Foods are the leading players in the market
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Increasing demand for healthy and on-the-go snacks: a major market driver
Increasing demand for healthy and on-the-go snacks is one of the major factors driving the global trail mixes market. With growing awareness of food consumption, consumers are seeking better-for-you ingredients that are of high-quality. Apart from this, there has been a significant change in food preference among consumers. Consumers are going in for more number of in-between foods or portions instead of regular three-square meals throughout the day. Hence, the increasing consumer interest in healthier varieties for in-between food intake is the key factor driving the demand for trail mixes.
According to a senior analyst at Technavio for food research, “Around 70% of the consumers who purchase trail mixes consider health factors while making their purchase decision. Trail mix is made from various ingredients such as nuts, seeds, grains, chocolates, and more. It is packed with heart-healthy ingredients and components and has low-fat, low-calorie, and low glycemic carbohydrate contents making it suitable for a healthy lifestyle. It also helps in weight-loss.”
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Hybrid snacks: a key market trend
Innovation is an important tool to increase the engagement of consumers. Even in trail mixes market, experimentation has become an important driver that is helping the market attract new consumers and retain them. Consumers, especially millennials, look for new varieties. Thus, trail mix manufacturers have also adopted the concept of hybrid snacks, where they merge two styles and varieties of snacks to create a new variant.
Hybrid snack variations of traditional snacks are prepared to cater to the changing needs of consumers who are looking for new flavors, taste, and experiences. Thus, there have been some product launches in the trail mixes segment with meat snacks in them. Other hybrid varieties of trail mix segment included trail mix cookies. Many small and big players offer trail mix cookies. Thus, the growing demand for hybrid snacks will be helping the market to grow further during the forecast period.
Regional landscape: the Americas to emerge as the largest global trail mixes market
Americas emerged as the leading segment in the trail mixes market in 2017, closely followed by EMEA and APAC. Although APAC held the smallest market share in 2017, it is expected to witness the highest growth over the forecast period.
Increasing health concerns due to the rising cases of obesity and other health-related problems is leading to the growth of the trail mixes market with consumers restricting their food intake to smaller quantities, which can be consumed at multiple time intervals.
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