World Snack Foods Market to Reach US$278.7 Billion by 2010, According to New Report by Global Industry Analysts, Inc.

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Driven by busy lifestyles, and increasingly healthy product profiles, the world snack foods market is projected to reach US$278.7 billion by the year 2010. With globalization of brands and products, consumers in the developing world have caught up with their western counterparts. Asia Pacific, Latin America, and Eastern Europe represent optimum regions for ferreting potential opportunities. Innovation stands out as a major driver turbo charging the market's growth both in terms of value and volume. Strong opportunities exist for slim, lean, fat-free, and guilt-free snacks.

Snack Foods: A Global Strategic Business Report

The world snack foods market stands enthused by the growing emphasis on convenience laid by time-constrained consumers according to new report by Global Industry Analysts, Inc. Changes in lifestyles, and paucity of time are bringing to fore the time-elevating advantages of snack foods.

The fast fading line between meals and snacks is churning out additional opportunities for snacking. Easy on-the-go portable packages, such as stand-up pouches, single-serve/ bite-sized packs, resealable bags, and finger-hugging canisters, which add a new dimension to the concept of added convenience, is expected to emerge into a major product variable for commercial success. Health-driven snackers are setting into motion strong demand for healthy, low fat, low-calorie, organic, fiber-rich, vitamin, mineral fortified snacks, while carefree snackers are igniting demand for diverse taste and flavor profiles to quench their indulgent carvings.

The trend towards healthy eating is expected to spruce up market opportunities in the snack nuts market, given the rising levels of awareness over the perceived wholesomeness of nuts, which are rich in unsaturated fats, antioxidants, and omega-3 fatty acids. The rise in popularity of protein-rich diets is expected to take demand for meat-based snacks to a new high. Meat snacks are expected to continue to play on the meal replacement trend, by lending itself as a healthful, convenient snack. Stringent regulations over labeling of trans-fat content in packaged foods in the developed markets are additionally expected to drive the popularity of TFA (trans-fatty acids) free snack products. Continuous innovations in flavors, and tastes, especially exotic, and sophisticated flavors, are expected to help the market score huge gains in the upcoming years. This is primarily so, because despite shifting consumer perceptions of what is healthy, evergreen issues like taste and flavor are never compromised by consumers, who place great value on taste and enjoyment. Steady rise in the number of occasions for snacking is expected to translate into increased business opportunities in the marketplace. With a growing percentage of the global population in both developed and developing countries, foraging on snacks and eating fewer full meals, snack foods are fast encroaching into the territory of convenient breakfast and dinner solutions, causing snack and meal manufacturers to cross swords. Meals discreetly cloaked as snacks in terms of convenience and portability is expected to thrust snack foods into a new level of competition.

Asia-Pacific offers ample opportunities for growth in the global market, driven largely by the region's high population density, strong economic growth, growing disposable income, liberalized import policies, and greater willingness to shift from traditional food to western diets. As stated by the recent report published by Global Industry Analysts, Inc., volume sales of snack foods, in the global market, are expected to rise by 9.8 million tons between the period 2007 to 2010. Strong volume gains are expected to stem from Europe, Asia Pacific, and Latin America, with projected growth in these regions ranging from 6% to 7% over the period 2001-2010. Dollar sales in the salted snacks market worldwide are projected to rise by 26.8% over the period 2007 to 2010. Potato chips, and tortilla & corn chips represent two of the largest product markets within the salted snacks market. Sales, in the potato chips market, are expected to rise by 1,736 thousand tons between the period 2007 to 2010, with consumption in Latin America projected to reach US$4.2 billion by the year 2010.

Strong dollar growth is expected to stem from the world meat snacks market, with the United States leading growth with a projected CAGR of 7.6% over the 2001-2010 period. In Asia-Pacific, sales, in the cheese snacks, and pretzels markets, together, are expected to reach 296.5 thousand tons by the year 2010. World market for bakery snacks is expected to witness dollar growth to the tune of 4.5% with sales in the United States and Canada, together, expected to rise by US$5.3 billion between the period 2007 to 2010. In Latin America, one of the fastest growing markets for snack foods worldwide, sales of specialty & frozen snacks in Brazil are projected to reach 307.2 thousand tons by the year 2010. In Europe, one of the largest markets worldwide, the United Kingdom dominates as the single largest individual market with a 38.8% share estimated in the year 2007, followed by Germany.        

Leading global and regional players operating in the industry include The Bachman Company, ConAgra Foods Inc., Chips Group, Tohato Inc., Cadbury Schweppes Plc., General Mills Inc., Groupe Danone, Herr Foods Inc., Intersnack Knabber-Gebäck GmbH & Co. KG, Jack Link's, Kellogg Company, Kraft Foods, Mission Foods Corporation, Nestlé USA Inc., Oberto Sausage Company, PepsiCo, Quaker Oats Company, Procter and Gamble Company, Pepperidge Farm Inc., The Hain Celestial Group Inc., United Biscuits Finance Plc, Utz Quality Foods Inc., Weaver Popcorn Company Inc., and Yamazaki Baking.

The report titled "Snack Foods: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key regional markets. Product markets analyzed in the report include Salted Snacks (Potato Chips, Tortilla & Corn Chips, Meat Snacks, Snack Nuts, Popcorn (RTE & Microwaveable), Pretzels, and Cheese Snacks), Bakery Snacks (Includes Confectionery Snacks), and Specialty & Frozen Snacks. Latent demand patterns in product markets are quantified across major geographic market verticals including the United States, Canada, Japan, France, Germany, Italy, United Kingdom, Spain, Russia, Asia-Pacific, Brazil, Mexico, Andes, and Middle East. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.

For more details about this research report, please visit http://www.strategyr.com/Snack_Foods_Market_Report.asp.

About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press @ StrategyR.com
Web Site http://www.StrategyR.com

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