Health and Wellness Opportunities in the Savory Snacks Sector
LONDON, Nov. 6, 2018 /PRNewswire/ -- Health and Wellness Opportunities in the Savory Snacks Sector
Summary
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Global Health & Wellness (H&W) market for Savory Snacks represented a value share of 15.1% of the total savory snacks sector. Although the market for H&W Savory Snacks is projected to grow at a CAGR of 5.3% during 2017-2022, the value share of the market is expected to skid from 15.1% in 2017 to 14.4% over the next five years.
Rising health awareness, increasing purchasing power of consumers and ageing population, who are more conscious about their health and nutrition, are the major factors driving the market. Popcorn, meat snacks and processed snacks remain the key contributing categories, driven by increasing demand snacks with lower fat and calorie content.
The H&W savory snacks market is led by the North American region, which accounted for a market size of US$10,531.4 million in 2017. This is followed by Western Europe. High obesity rates and intensified awareness campaigns in these developed regions are driving consumers away from traditional snacks towards healthy, more nutritious choices.
The H&W attributes that play the most pivotal roles in shaping the demand for savory snacks worldwide are 'free from' and 'food minus'.With cardiovascular diseases among the main causes of death worldwide, consumers are becoming increasingly cautious of saturated fats and cholesterol.
This is driving the demand for 'cholesterol free' savory snacks, which accounted for 82.6% of the total savory snacks with 'free from' attributes in 2017
PepsiCo was the leading player in the global H&W savory snacks sector, followed by The Kellogg Company and Snyder's-Lance. Leading companies are reformulating their products with reduced salt and fat, different ingredients, and improved processing techniques in line with the consumer trend for healthy eating and to comply with the new regulations on salt and sugar content.
"Health and Wellness Opportunities in the Savory Snacks Sector", report provide a comprehensive overview of the global health & wellness (H&W) savory snacks sector. It includes analysis of the overall H&W savory snacks sector globally, including what is the current market size (2017) with projected growth over the next five years (2017-2022) and how the key categories will develop in the future; key product attributes and key consumer benefits by each region in the sector; key trends in the top four categories by value; and market share of leading companies offering H&W savory snacks products in 2017.
Scope
This report brings together multiple data sources to provide a comprehensive overview of the global health & wellness (H&W) savory snacks sector.
It includes analysis on the following -
- Market overview: This section provides an overview of the overall H&W savory snacks sector globally, including what is the current market size (2017) with projected growth over the next five years (2017-2022) and how the key categories will develop in the future. The section also highlights opportunities for manufacturers, before then presenting the growth drivers for the market and challenges faced by manufacturers/retailers.
- Furthermore, the section outlines the changing innovative landscape of global savory snacks sector in the H&W space with time.
- Regional analysis: GlobalData has segmented the global market into six key regions: Asia-Pacific, Middle East & Africa, North America, Latin America, Western Europe, and Eastern Europe. This section will first go through an analysis on key product attributes and key consumer benefits in each region, before then presenting a section on each of the regions in detail, discussing how the market for H&W will grow compared to the market excluding H&W during 2017-2022. It also highlights the top three countries in each region by market value in 2017 and the three fastest-growing countries by value during 2017-2022.
- Category analysis: This section first provides an overview on current trends in the overall sector in terms of ingredients, product claims, labelling and packaging, and how they will shape up in the future. The report section will then look at key trends in the top four categories by value- processed snacks, potato chips, nuts & seeds, and popcorn along with product attributes, and consumer benefits driving the demand for H&W savory snacks.
- Company share analysis: This section of the report covers the market share of leading companies offering H&W savory snacks in 2017.
Reasons to buy
- To have a thorough fact based analysis with information about the global H&W savory snacks sector across the six regions in value terms and the underlying factors that are driving the sales
- To gain confidence to make the correct business decisions based on a detailed analysis of the global H&W savory snacks sector and to identify opportunities in the most sought after product attributes and consumer benefits
- The analysts have placed a significant emphasis on the mega trends in the key H&W categories, analyzing the product attributes and consumer benefits that drive consumer choice and will provide a clear picture about the future opportunities that can be explored across the regions, resulting in revenue expansion
- To gain competitive intelligence about leading companies in the H&W savory snacks sector at global and regional level with information about their category share.
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