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The world snack foods market will benefit from the growing emphasis on convenience 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, the report stated.
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 toward 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, according to the report.
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 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. 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.
Strong dollar growth is expected to stem from the world meat snacks market, with the United States leading growth with a projected compounded annual growth rate of 7.6 percent over the 2001-2010 period. World market for bakery snacks is expected to witness dollar growth to the tune of 4.5 percent, with sales in the United States and Canada, together, expected to rise by $5.3 billion between the period 2007 to 2010.