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Global Snack Products Market was valued at US $ XX Mn in 2017 and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024
Global Snack Products Market
Global snack products market was valued at US $ XX Mn in 2017 and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024
Market Outline: Global Snack Products Market
Snack products are the part of food, which are less quantity than a regular meal and consumed between meals. Snacks are available in a variety of farms such as including processed food and packaged food. These products are made from the fresh ingredients at home. Some of the snack products are sweets, sandwiches, leftovers, cold cuts, fruits, and nuts among others.
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Market Dynamics: Global Snack Products Market
Increase in the global population demanding for the ready to eat food products coupled with busy work schedules are key drivers for the growth of snack products market. Moreover, innovation of newer products with different flavors, rise in disposable income, rapid urbanization, and manufacturing of nutrient snacks are anticipated to propel the snack products market over the forecast years. However, high cost of raw materials, decay of snack products due to unfavorable storage conditions, and adverse effects associated with the usage of low quality raw materials may restrain the growth of global snack products market.
Market Scope: Global Snack Products Market
Global snack products market is segmented based on product type and distribution channel
Based on product type, market is segmented into the following:
• Chips and Crips
• Cheese
• Cookies and Biscuits
• Nuts and Seeds
• Chocolate
• Bread and Sandwiches
• Fresh Fruits and Vegetables
• Ice Cream
• Others
Based on the distribution channel, the market is segmented into the following:
• Super markets & Hyper Markets
• Online Stores
• Departmental Stores
• Others
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Regional Analysis: Global Snack Products Market
Geographically, global snack products market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America snack products market is poised to grow at significant rate due to rise in demand for snack products due to busy work schedule, rise in disposable income, and huge number of market players present in the U.S. are anticipated to fuel the market. Europe snack products market growth driven by rise in women workforce in developed countries, change in lifestyle and food habits, and rise in health awareness among the people in developed countries are expected to bolster the market. However, Asia pacific snack products market recording the fastest growth, which is attributed to rise in population in India and China, entry of market players and online distribution channels providing discounts on snack products, and grow in snack food industries are boost the market.
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Competition Assessment: Global Snack Products Market
Some of the players in the global snack products market include:
• Kellogg Company (U.S)
• McCain Foods Ltd. (Canada)
• PepsiCo Inc. (U.S.)
• Intersnack Group (Germany)
• General Mills Inc. (U.S)
• McDonald’s Corporation (U.S)
• Lamb Weston Holdings Inc. (U.S)
• Aviko B.V. (Netherlands)
• Calbee Inc. (Japan)
• Mondelez International (U.S)
Notable Market Developments: Global Snack Products Market
In January 2017, General Mills, Inc. launched a new snack product series such as Nature Valley Granola bars, Yoplait Custard, and Haagen-Dazs ice cream in healthy snacks category.
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