Global Roasted Snacks Market Overview:
Snacks are an integral part of the diet, and they are useful for preventing the blood sugar level from dropping to the extent of affecting the health. Not only healthy snacks provide nutrients to the body, but they also assist consumers in weight loss. Market Research Future (MRFR) has published a research report about the global Roasted Snacks Market that estimates decent growth for this market between 2023-2032.
Roasted Snacks Market Size was valued at USD 5.2 Billion in 2022. The Roasted Snacks market industry is projected to grow from USD 5.5 Billion in 2023 to USD 407.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.46% during the forecast period (2023 - 2032).
The factors leading to the market growth include awareness among consumers regarding healthy snacking, growing disposable income, growing inclination towards weight loss diets due to the increasing prevalence of obesity, and changing consumption pattern of the health-conscious population. Due to the increasing working population, roasted snacks market is likely to grow rapidly. The market is also growing due to competition, caused by innovation in new products and the variety of flavors introduced in the market for the consumers.
Segmentations:
The global Roasted Snacks Market has been segmented on the basis of calories per serving, distribution channel, packaging material, source, types, and lastly region. As per the distribution channel, this market has been segmented into store-based and non-store based. Nowadays, people buy snacks from online stores as well. However, the store-based distribution is currently dominating the market. On the basis of calories per serving, the market has been segmented into below 40 Calories, 40-100 Calories, and others.
Based on the packaging material, the market has been segmented into paper, plastic, and others. During the forecast period, plastic packaging is dominating the market, followed by paper packaging. The source-based segmentation of market covers grains, nuts, pulses, vegetables, and others. Among these, the nuts segment is dominating the market, followed by cereals segment. By types, the market has been segmented into gluten-free, organic, vegan, and others. Among these, the gluten-free segment is dominating the market. However, the consumers are highly inclining towards organic products that can spell a substantial growth for organic segment over the forecast period.
Regional Analysis:
The regional segmentation of the global Roasted Snacks Market segments the market into the regional markets namely North America, Europe, Asia Pacific, and the rest of the world (RoW). During the forecast period, North America is accounting for the lion's share of the market followed by the Asia Pacific and Europe. According to the report, Belgium, France, Germany, United States of America (USA), and the United Kingdom (UK) are the major exporters in the Roasted Snacks Market.
In North America, the USA is the major contributor to the growth of roasted snacks market as many key players in the market are based in the USA. The other major country-specific markets in this region are Canada and Mexico.
In the Asia Pacific region, the market is growing due to factors like growing disposable income, increasing health consciousness and trends regarding healthy snacking habits. The biggest country-specific market in this region is India, followed by China. Another important market in this region is Japan, followed by the rest of the Asia Pacific region. In Europe, the market is ripe for gluten-free and low-calorie products because the health-conscious population is increasing. In this region, the most significant country-specific markets are France, Germany, Italy, and the UK, followed by the rest of Europe. The awareness about the health benefits from roasted snacks is rising among consumers in RoW, especially in the biggest unclassified markets namely Argentina, Brazil, Egypt, and South Africa.
Key Players:
The global Key Roasted Snacks Market Players include Biena (USA), Don't Go Nuts (USA), Godrej (India), Jayone Foods, Inc. (USA), PepsiCo (USA), SunOpta Inc. (Canada), and Thanasi Foods LLC (USA).
Latest Industry News:
• Mary Lou Donuts has launched a new line of snacks that includes chocolate covered potato chips, dipped pretzels, and flavored popcorn. It has also launched various roasts of coffee. The new products can be ordered online. 30 MAY 2018
• Snack brand Biena has teamed up with the Girl Scouts of America to create an official Thin Mint Chickpea product that will be high in nutritional value. A serving of the minty, salty-sweet chickpeas will apparently tout four grams of protein and fiber but will have only 130 calories. 5 APR 2018
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