Snacks are referred
to foods that can be prepared and served within short span of time.
The concept of snacks originated from America where people eat on a
frequent basis. The Snack
Food Manufacturing Market can be segmented on the basis of
type and by geography. By type the snack food manufacturing market
can be classified into salted snacks manufacturers, bakery snacks
manufacturer, frozen snacks manufacturer and others. The salted snack
can be further bifurcated into potato chips, meat snacks, popcorn,
junk foods and others. The bakery snacks include confectionary
snacks. The not so common types of snacks such as drinks, batter and
dough based snacks are included in others segment. Geographically the
snack food manufacturing market can be segmented into North America,
Europe, Asia Pacific and Rest of the World (RoW).
Presently the most
important factor preferred by consumers regarding snacks is taste and
health consideration. Consumers are unwilling to sacrifice any of
them. Over the last few years the fast food manufacturing market is
growing extensively. The snacks food manufacturing market is
primarily driven by increasing trend of nuclear family coupled with
change in lifestyle. The shift towards nuclear family with both
parents working has increases the demand for healthy and authentic
quick foods. In addition, higher disposable income and inclination
towards food habit of western countries are also boosting the demand
of snack foods.
However, the
increasing incident of obesity in many countries and government
regulations regarding procurement of vegetables, meat and other raw
materials acts as the restraining factor for the growth of snack food
manufacturing industry. In spite of these restraining factors the
fast food manufacturing market is expected to stand firm.
In 2014, among the
snack types confectionaries accounts for the largest share in Europe
and middle east. Whereas in Asia Pacific region refrigerated snacks
offer almost one third of the overall snacks sale.
Europe and North
America held the largest share of snack food but the growth rate is
slow as the market has become saturated since it is dominated by few
market leaders such as ConAgra Foods Inc., Frito lay’s and Cadbury
Schweppes.. However, annual sales are growing at a faster rate in
developing regions like Asia Pacific. The prime factor responsible
for this is growing urbanization. With increasing urbanization comes
the busy work schedule. Thus there has been a growing trend of people
leaning towards fast and healthy snacks for their breakfast and
lunch.
There has been a
tough competition in the developed market within the large number of
snacks food manufacturing industries operating to serve to a smaller
population. Majority of the snack food manufacturing companies are
keeping an eye on the developing markets in Asia pacific and Latin
America. However the expansion must be made judiciously as many snack
food manufacturing company are suffering losses due to unplanned
expansion.
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Some of the Major
Market Players of Snack food manufacturing market include
ConAgra Food Inc., Kellogg Company, Nestle USA Inc., and Cadbury
Schweppes Plc. And Frito Lay’s.
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