Market Overview
Specialty food items are produced in small quantities and are made from high quality ingredients in order to provide high value items. Specialty snacks are an important part of specialty food. Specialty snacks are made with different types of rich ingredients. Specialty snacks offer significant vitamins, low saturated fat low sodium content. Specialty snacks include nuts seeds, low fat dairy products and lean cheese, and many more.
Market Forecast
The global Specialty Snacks Market Size is witnessing an impressive growth over the last few years. With the changing lifestyle and evolving dietary pattern, convenience food plays an important role in defining the consumers’ food choices in the modern world. The trend of consumption of convenience food began in western world and spread to other regions rapidly. Looking at the economic development at global level and specifically for BRIC countries (Brazil, Russia, India, China and South Africa), the increasing purchasing power of consumers and convenience trends are likely to remain significant. Consumers look for convenience foods as they are easy to use, and possess nutritional value, safety, variety, and product appeal. Due to changing lifestyles, consumers are spending less time planning and cooking meals at home as they consider preparing food at home as a time and energy consuming chore. As a result the demand for healthy convenience food is increasing which is anticipated to fuel the sales of specialty snacks during the forecast period. Increasing organized food service industry is considered to be one of the vital factors for the rising growth of Specialty Snacks Market Size. Specialty snack manufacturers find a massive opportunity to come in a collaboration with the various organized food service companies in order to enhance their presence in the market.
Downstream analysis-
Chips crisp is estimated to be the attractive product type among all the specialty snacks products accounting for more than 35% of market proportion in the Specialty Snacks Market Size. Grains is one of the attractive ingredients of specialty snacks among the manufacturers. Store based distribution channel is accounts for the maximum market share in the global Specialty Snacks Market Size. Among the store based distribution channel, supermarkets hypermarkets is anticipated to hold more than 40% of market proportion in the global Specialty Snacks Market Size. Non-store based distribution channel is projected to grow steadily during the forecast period.
Competitive analysis-
The major key players in the Specialty Snacks Market Size are
- Kraft Heinz Foods Company (U.S.)
- ConAgra Foods, Inc. (U.S.)
- Diamond Foods, LLC (U.S.)
- Calbee, Inc. (Japan)
- General Mills, Inc. (U.S.)
- Blue Diamond Growers, Inc. (U.S.)
- Kellogg Company (U.S.)
Global Specialty Snacks Market Size is highly concentrated in Europe. North America has massive potential for Specialty snacks, as there is an increasing awareness regarding healthy food habits along with new product developments by the key players in the Specialty Snacks Market Size.
Regional Analysis
The global Specialty Snacks Market Size is segmented into North America, Europe, Asia Pacific, and the rest of the world (ROW). Among these, Europe region is expected to retain its dominance throughout the forecast period. This is attributed by the increasing busy life schedules of the consumer coupled with the increasing demand of convenience food. Among the European countries, Germany is estimated to account for the maximum market proportion during the forecast period of 2021-2027. Asia Pacific region is projected to grow at a fast pace during the forecast period of 2021-2027.
Market Segmentation-
Global Specialty Snacks Market Size is segmented by product type, ingredients, functionality, packaging, distribution channel and region
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