Global Snack Foods Market to Reach US$334.7 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global outlook on the Snack Foods Industry. Global snack foods market over the next few years will be primarily driven by continuous improvements in tastes and flavors. Additionally, Asia-Pacific, with its high population density and liberalized import policies, is also expected to offer ample growth opportunities.

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Snack Foods: A Global Outlook

San Jose, California (PRWEB) January 18, 2012

Follow us on LinkedIn – With a mouth-watering array of food items, the snack food industry has managed to wrest a tight hold on the taste buds of consumers across the globe. The industry has developed impressively not only in the developed US and European markets, but also in the developing regions of Asia-Pacific and Latin America. With globalization of brands and products, consumers in the developing countries have caught up with their Western counterparts. Changes in lifestyle coupled with a lithesome career approach have fueled the consumption of snack foods. With women becoming more and more career oriented, lack of time has taken its toll on traditional food eating habits, bringing to fore the advantages of snack foods.

Grazing, and foraging on snacks is a characteristic feature of life in the 21st century. Rise in disposable incomes, blistering pace of modern lifestyles, and long working hours have together reduced elaborate luncheons/meals to desk snacks. Given, consumer’s dependence on snacks as alternatives to meals, the nutritional value of snacks is being revolutionized, and the change is manifested in the form of energy and nutrition bars, proteins packed cereal crisps, low fat, and trans-fat free products. As a result, snack foods are fast shedding their image of being junk, and nonessential in nature, thanks to the aggressive promotional efforts of food companies. Demand velocity for healthier snacks is high. Nutritional snacks with their attractive health profiles are today vying for the share of meal substitutes, and health foods.

A highly capricious marketplace, snack foods are typically subject to the vagaries, and vacillations of the ever-changing fickle consumers. Traditionally, the snack food market has swayed to the shifting palates of the consumers leading to mammoth levels of product innovation in terms of packaging, and flavor enhancements. The global consumer base for snack foods is typically categorized into health-driven snackers, balanced snackers, and carefree snackers. Each of these demographic clusters has unique tastes and preferences requiring manufacturers to carefully tailor new product developments and target launches. Additionally, introduction of products that incorporate regional tastes is another strategy followed by some of the leading players such as PepsiCo, to tap both the developed and emerging markets.

Another noteworthy trend engulfing the snack foods industry is the rising popularity of Microwaveable Snacks. Growing preference for convenience meals, coupled with the rise in disposable incomes, has paved the way for a new era of microwave cooking. Universal acceptance of microwave ovens, in turn, has invigorated the market for microwaveable snacks. With microwave cooking heralding the trend of kids preparing their own choice of after-school snacks, manufacturers are increasingly targeting new microwavable food products that can be safely prepared by children, such as, frozen microwavable potato chips, frozen microwavable pizza, Micro Garlic Bread, Micro Chicken Wings and Micro Wedges-in-Sauce, among others.

Post recession, the global market for snack foods is forecast to grow at a healthy rate through 2015. Easy, on-the-go convenient packages such as bite-sized/ single-serve packs, stand-up pouches, finger-hugging canisters and resealable bags, are projected to emerge as important product variables for commercial success. Carefree snackers are expected to drive demand for varied flavor and taste profiles, while health-oriented snackers are likely to ignite a greater demand for low-calorie, healthy, organic, mineral fortified and fiber-rich snacks. In addition, the trend towards healthy foods is expected to spruce up opportunities in the market for snack nuts. Also, the growing popularity of protein-rich diet is projected to drive the demand for meat-based snacks. Stringent regulations over trans-fat content labeling in packaged foods are further projected to popularize snack foods that are free of trans-fatty acids.

The research report titled “Snack Foods: A Global Outlook” announced by Global Industry Analysts, Inc., provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a rudimentary overview of the industry, highlights latest trends and demand drivers, in addition to providing statistical insights. Regional markets briefly abstracted and covered include United States, Canada, Japan, Europe (France, Germany, United Kingdom, Spain, and Poland), Asia Pacific (China, India, Indonesia, South Korea and Taiwan) and Latin America (Mexico). The report offers a compilation of recent mergers, acquisitions, and strategic corporate developments. Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of companies worldwide.

For more details about this comprehensive industry report, please visit –
http://www.strategyr.com/Snack_Foods_Industry_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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

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