The roasted snack market is breezing ahead as it is gaining much traction from the health-conscious consumers. An integral part of the dietary system, snacks help in maintaining the blood sugar level normal and leading a normal life. The global Roasted Snack Market can expect a robust growth during the forecast period (2018-2023), reveals Market Research Future (MRFR) in a published report. The report further includes segmental analysis, a detailed description of factors that can contribute to the holistic growth of the market, and expert views to provide a holistic view of the sector in the coming years.
Market Scenario and Key Factors:
Among the major factors, changing lifestyle plays a crucial role. Rapid urbanization and industrialization have put the life on a faster track which provides little time to have a nutritious meal. Hence, the demand for snacks that can help in maintaining a healthy lifestyle. The products are mostly becoming popular amongst the working-class population. In addition, people willing to lose weight are also opting for such snacks. Competitors are also launching wide-variety of flavors to better their market stance. This can influence the roasted snack market growth in the coming years.
Growing awareness regarding health has pushed forward the demand for roasted snacks that are oil-free. Mostly by heating nuts, grains, cereals, and other ingredients, these snacks are prepared. These roasted snacks strictly follow the carbohydrate line and are known as a good source of protein. At the same time, roasted snacks help in weight loss which has emerged as one of the main reasons for its growing popularity.
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Prominent players profiled in the global roasted snack market are Biena (U.S.), Jayone Foods, Inc. (U.S.), Don’t Go Nuts (U.S.), Godrej (India), SunOpta Inc. (Canada), PepsiCo (U.S.), Thanasi Foods LLC (U.S.), and others.Mergers, acquisitions, collaborations, product launch, and other methods are some strategic moves that the companies adopt in a bid to grow. It also backs the holistic growth of the market.
In 2018, Sahale Snacks launched Tangerine Vanilla Cashew-Macadamia Glazed Mix which was a result of the influence of orange and vanilla popsicle. It’s a blend of Madagascar vanilla bean and tangerine with roasted cashews and macadamia nuts.
In June 2018, Saffron Road unveiled crunchy chickpea snacks which come in candy-like coating. Basically, a blend of dark chocolate and sweet chickpea, these products are of superior quality with best-in-class ingredients.
The Roasted Snack Market can be segmented by source, claim, packaging material, and distribution channel.
Based on the source, the roasted snack market can be segmented into nuts, grains, cereals, and others. The nuts segment is in charge,and the demand for the segment is always on the rise. Its lead is followed by cereals.
Claim-wise the roasted snack market includes gluten-free, organic, vegan, and others. The gluten-free segment is spearheading the market. However, organic foods are fast becoming popular among the mass owing to their health impacts.
Based on the packaging material, the roasted snack market consists paper, plastic, and others. Theplastic segment has the global lead,and paper segment comes in next.
On the basis ofthe distribution channel, the roasted snack market includesstore-based channel or non-store based channel. The store-based channel is leading the market with sizeable profitsto enhance the experience of customers.
North America accounts for the maximum amount of market revenue. Growing awareness regarding health, top-in-line manufacturers, product innovation, and other factors are providing thrust to the regional market. The U.S. contributes the most to the regional market growth.
Rising demand for low-calorie products and gluten-free products are providing enough traction to the European market. The APAC market is also witnessing substantial growth.
Upon considering regions, the global roasted snack market spans across North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).