Report ID: SQMIG30I2141
Report ID:
SQMIG30I2141 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
67 |
Figures:
74
North America accounted for the largest market share, accounting for nearly 33% of the global share in 2021. Following the emergence of the Covid-19 pandemic, the demand for nutritious snacks has increased significantly in the United States. The United States used to be a big consumer of snacks, but consumers have shifted their focus to consuming healthy and nutritious snacks to avoid all the health-related risks associated with excessive snacking behaviour. Also, the high penetration rate of supermarkets and hypermarkets, as well as convenience stores, is another important factor driving market sales in the region. These convenience businesses are collaborating with delivery services to increase their e-commerce presence. Obesity and diabetes are two major public health challenges in the United States that are expected to increase the demand for healthy snacks in the coming years. Increasing health and fitness awareness has reduced the consumption of high-calorie unhealthy snacks, which is expected to create new opportunities for healthy snack providers during the forecast period. Other factors that could impact snack sales over the next ten years include the high prevalence of chronic diseases, changing consumer preferences, stricter restrictions to limit the use of artificial ingredients, and increased demand for convenience meals. Some of the country's most popular snacks include pretzels, beef jerky, cereal, and popcorn.
Asia Pacific is expected to be the fastest-growing region in the global market. There is also a growing awareness in Asia of products that are great for the gut and immune-related such as prebiotics and probiotics. Adding functional ingredients to snacks, such as macronutrients and antioxidants, has recently become a popular technique for many companies to create healthier snacks. Also, as a marketing strategy, more companies are emphasizing clear labeling and product taste. This is expected to drive the market during the forecast period. Globalization and Western cultural influence have increased in many Asian countries, including India, Korea, Japan, and China. Dietary habits are expected to change over the next 10 years, per capita disposable income will increase, convenience food consumption will increase and the number of working women will increase, all these factors will affect the shipping of snack foods to Japan, Korea, and other Asian countries. Rice cakes and pork are expected to be popular snacks in almost every Asian country. However, rising prices of snacks and other packaged foods as a result of the changing world economic conditions are expected to limit the sales of snacks in Japan and Korea.
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Report ID: SQMIG30I2141