The World Health Organization (WHO) states that the worldwide prevalence of obesity has more than doubled itself since 1980. In 2014 the WHO reported that more than 600 million adults aged 18 years and above were obese. The increasing incidence of obesity and other health disorders spurred by insalubrious diet and lifestyle has become a global concern. Such growing awareness regarding health and wellness is a key factor giving impetus to the global crackers market.
Usually made of multi-grain and flour, crackers constitute the core of the consumer segment in the food industry that is driven by health and wellness concerns. These consumers are mostly attracted to snacks processed from healthy ingredients such as legumes, vegetables, ancient grains, and high protein foods. With leading vendors continuing to launch more variants of healthy crackers, the market is expected to exhibit substantial growth in the near future. The four most popular categories of crackers available in the market are flaked soda crackers, graham crackers, cheese crackers, and others. Based on geography, the market can be segmented into North America, Europe, Asia Pacific, and Rest of the World.
The report studies and presents an executive level blueprint of the global crackers market. The report analyzes the market on three fronts: application, end user, and industry vertical. Each of these segments are further sub-segmented on which a detailed analysis is conducted. The report also provides the growth forecasts for these segments.
Overview of the Crackers Market
The global crackers market is likely to demonstrate a positive CAGR between 2016 and 2023. The consumption of crackers has increased considerably around the world. These healthy snacks are available in different varieties and flavors, which subsequently has fuelled their popularity in the global market. Since, crackers are made from nutritional ingredients, they are increasingly preferred over other snacks for household consumption.
The most prominent names in the restaurant industry have also included crackers as popular snacks in their menu. Served alongside wine, soups, sea-foods, and salads, the growth prospects for crackers in the next few years seem very impressive.
Despite the crackers market witnessing rapid innovation and the entry of new competitors, comforting and old-fashioned crackers still dominate the market mainstay. However, inadequate awareness about the presentation and preparation of crackers and their insignificant shelf presence in retail stores are the key factors limiting the global crackers market. Besides, awareness pertaining to the usage of crackers is limited to niche markets in developed countries. Nevertheless, shifting lifestyle preference of middle class population in emerging economies of Asia Pacific such as India and China in the next few years will boost the growth opportunities for the market.
Companies mentioned in the research report
Demand in the global crackers market is driven by the changing dietary preferences and health considerations of the global consumers. The profitability of the key players in this market, therefore, is determined in terms of effective marketing, operational efficiency, and strong sales force. While large companies enjoy an upper hand in purchase, distribution, and marketing, smaller companies can attain competitiveness by manufacturing high-end and sugar-free crackers. Some of the key companies in the crackers market profiled in the report are M.Y.San, Nestle, Kellogg's, Mondelez International, Captain's Wafers, Natures Pear, Bremner Biscuit Company, and Keebler Company.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.