LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the packaged tostones market in the Americas to grow at a CAGR of almost 4% during the period 2018-2022, according to their latest report.
The inclination toward snacking is one of the latest trends that is being witnessed in the market. The American consumers are highly inclined toward snacking. It is estimated that more than 90% of the American consumers snack at least once a day. More than 60% of the consumers snack to satisfy their cravings. Taste and flavor are the major aspects that regulate the demand for a snack in the region. It is predicted that more than 61% of the US consumers tend to prioritize a salty flavor than the nutritional content of a snack. Among multiple customer segments, millennials exhibit increased affinity toward snacking. Of late, several vendors in the packaged tostones market in the Americas have launched salty tostones. Several manufacturers offer tostones that are sprinkled with sea salt. Thus, manufacturers are launching products that suit the varied taste buds of the consumers.
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In this report, Technavio analysts highlight the advent of online shopping as a key factor contributing to the growth of the packaged tostones market in the Americas:
Advent of online shopping
A large percentage of the American population resorts to online shopping. This has positively impacted the sales of tostones in the region. The sale of tostones through online shopping has contributed substantially to the growth of the packaged tostones market in the Americas. Among multiple consumer segments, the millennial consumers are expected to purchase packaged tostones online. Compared to the consumers in other parts of the region, consumers in the US are more likely to purchase tostones through digital shopping portals as they are tech-savvy and use digital devices more frequently.
According to a senior analyst at Technavio for food, “The availability of online coupons and discounts is contributing to the high demand for online shopping in the Americas. The increase in the number of offers and discounts further adds to the affinity for online shopping. Therefore, the advent of online shopping has contributed to the increased sale of tostones. This has contributed to the growth of the packaged tostones market in the Americas.”
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Packaged tostones market in the Americas segmentation
This market research report segments the packaged tostones market in the Americas into the following products (unflavored and flavored) and key regions (North America and Central and South America). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the unflavored segment held the largest market share in 2017, accounting for more than 65% of the market. This product segment is expected to dominate the market throughout the forecast period.
North America dominated the packaged tostones market in the Americas in 2017, accounting for a market share of more than 45%. This region is anticipated to witness tremendous growth during the forecast period.
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