Snack Foods: A Global Outlook
San Jose, CA (PRWEB) September 4, 2008
Snacking between meals is a common practice among consumers of all ages. Rising income levels, and busy lifestyles with little emphasis on conventional eating habits have fuelled the consumption of a wide variety of snack foods. Fast-paced consumer lifestyles have resulted in blurring lines between meals and snacks. Food products that were earlier considered snacks are now being consumed as meals. Widespread availability of snack foods that cater to different taste buds with a host of flavors, customized to specific requirements of different regions and cultures, has also enabled manufacturers to wrest a strong hold on global consumers.
Growing concerns about health, aging baby boomer generation, and rising incidence of obesity are contributing to the increasing demand for healthy snacks. Innovative and healthier snack foods are being introduced in the form of low-fat products, organic snacks, functional foods, and snacks with vegetable or fruit extracts. Besides, manufacturers are also catering to select consumer segments such as diabetics, through the launch of sugar-free snacks. nut snacks market is one such segment that is witnessing rapid growth, owing to their healthy image. Increasing emphasis on healthy eating, growing consumer awareness about benefits of nut snacks, widespread availability of conveniently packaged products in different flavors, and intense promotional campaigns of manufacturers have boosted the market for nut snacks across the world.
Although US and European markets are faced with relatively mature conditions, globalization of products and brands has allowed Asia-Pacific and Latin America to emerge as new growth centers for snack foods industry. Asian snack foods industry, once inclined towards homemade and traditional products, has now become a hot bed of opportunities for multinational corporations. With consumers in developing countries increasingly opting for western diet, the demand for snack foods is anticipated to grow rapidly. Liberalized import policies, booming economies, growing disposable incomes are further expected to fuel growth in the industry.
Manufacturer strategies hold enormous significance in an extremely competitive marketplace, characterized by intense brand-based rivalry. Product innovations, in the form of convenient and attractive packaging, sizes, and shapes, are being undertaken keeping in mind changing consumer preferences. Co-branding, age-specific products, and health-oriented products are some of the strategies pursued by manufacturers.
The report titled "Snack Foods: A Global Outlook", published by Global Industry Analysts Inc, provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. Annotated with 37 information-rich tables presenting market data findings, facts, figures and analytical research projections, the entire discussion contained in the global outlook series is designed to be quantitatively informative. A regional level discussion mirrors the retail scenario in the US and briefly captures noteworthy trends in select product segments, together with quantitative analysis of sales of top product brands across product market segments. The report also includes an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 245 companies worldwide.
For more details about this research report, please visit http://www.strategyr.com/Snack_Foods_Industry_Market_Report.asp.
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