Coated Snacks Market Outlook
Coated snacks is comprised of the snacks that are coated with the sweet, salty, savory, chilly and other seasonings or substances. These coatings provides enhanced taste, flavour and appearance to the end products. Snacks are foods that are consumed as a refreshment, between the meals and not as a meal. Coated snacks are mostly consumed for their taste and texture for the enjoyments. Various coated snacks are prepared mostly by spray-drying technique and dipping. Snacks are becoming a prominent part of the daily diet of the consumers, with major share occupied by the savory snacks. Coated snacks market is gaining the momentum in the global market, since they are being marketed as fortified food products. The health and wellness trend in the global market is rising and tapping into the current market requirements, many snack producers are using coating materials that are natural, free-from goods, and low in sugar and MSG. The increased consumption of snacks around the world is the primary driver for the global coated snacks market.
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Coated Snacks Market is enjoying the Increased Market Share in the Global Snacks Market due to the Enhanced Taste Profile and Appearance
Coated snacks market is predominantly driven by the habit of sudden and impulsive purchase of the snack products by the consumers whilst shopping for grocery items. This buying behavior of the shopping goers mostly in the developed countries such as U.S., Canada, U.K., France, Australia, Germany, etc. is driving the sales of the global coated snacks market. The coated snacks is mainly consumed by the younger generation due to the habit of consuming snacks and processed food products on a frequent basis. The coated snacks hold significant market share in the global snacks market that are available in various forms, shapes, colours, and flavours.
Moreover, large chunk of the consumers in the developed countries are suffering from the disorders such as diabetes, heart issues, obesity, and high blood pressure due to the choice of the lifestyle. This has led to the health concerns and rise in trend of eating healthy. Manufacturers are tapping into the current market trends and introducing new and novel products with low-sugar, reduced salt, and no MSG. Despite some side-effects on health, the availability of such products targeting health enthusiast is leading to the market growth.
With the increased spending on the research and developments, new and innovative products are being launched in the global market that are marketed with attractive and colorful packaging. The attractive packaging are targeted towards kids and younger consumers, which is also expected to rise the sales of the coated snacks in the global market.
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Coated Snacks Market Segmentation
The coated snacks market can be segmented on the basis of flavour, nature, type, and sales channel.
On the basis of flavour, the coated snacks market can be segmented as:
On the basis of nature, the coated snacks market can be segmented as:
On the basis of type, the coated snacks market can be segmented as:
- Others (Meat, etc.)
On the basis of sales channel, the coated snacks market can be segmented as:
- Hypermarket/ Supermarket
- Convenience Stores
- Online Retailers
- Specialty Stores
- Mass Grocery Stores
- Other Retail Formats
Coated Snacks Market: Regional Analysis
North America and European region are the largest consumers of the coated snacks market, at present. The well established distribution network, and the easy availability of the coated snack products through various distribution channel are leading to the maximum market share of North America and European countries. However, increasing market penetration of the big players of the coated snacks market in the emerging countries from the Asia, Latin America, and MEA region is likely to result in the highest CAGR over forecast period. Improvements in the GDP, economic situation, urbanization, industrialization, increasing middle-class population, and increasing consumer disposable income are the factors responsible for expected shift in the market share over the forecast period.
Coated Snacks Market: Key Participants
Some of the market participants in the Coated Snacks market are:
- Cargill Inc.
- Archer Daniels Midland Company
- Kerry Group
- Tate & Lyle Plc.
- Emsland Group
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