Snack food is becoming a mainstream trend that has gathered force over time and is considered as one of the most preferred form of commodities, hence snack food packaging should be attractive to buyers in order to gain their attention. Shifting preference of consumers for snack foods into meals are changing how restaurants and packaged food manufacturers market food. Packaged food manufacturers stay on top of their changing preferences and needs, mostly for health, value and quality as well. For instance, nearly 80% of consumers looks for best value products
Snack Food Packaging Market: Dynamics
The growing number of nuclear families coupled with increasing disposable incomes has unwrapped tremendous opportunities for the ready to eat snack foods which in turn driven the growth for the global snack food packaging market in the near future. The opportunity to indulge in exotic flavor options at reasonable prices, convenience and changing consumer lifestyle are the major factors that influence the growth of snack food packaging market. The consumers crave for healthier snack food products and they are unwilling to sacrifice flavor as these are now trends in the overall snack food market. Furthermore, the trend of eating snacks in between meals has led to the tremendous demand for the global snack food packaging market.
Branding and product innovation act as a decisive factor which has provided impetus to the global snack food packaging market. Manufacturers emphasis on their product offering in order to suit the taste of the consumers and developing new alternatives to provide to geographic specific demand which has expanded their consumer base.
Innovations in the global packaging industry, such as sophisticated packaging products which are made of materials such as biaxially-oriented polypropylene (BOPP), biaxially-oriented polyethylene terephthalate (BOPET), and cast polypropylene (CPP) has led manufacturers of snack food packaging market to provide attractive and colorful packs to draw attention to consumers.
Snack Food Packaging Market: Segmentation
On the basis of material type, the global snack food packaging market is segmented into
On the basis of packaging types, the global snack food packaging market is segmented into
- Flexible Packaging
- Rigid Packaging
On the basis of application, the global snack food packaging is segmented into,
- Bakery Snacks
- Candy & confections
- Savory Snacks
- Nuts & Dried Fruits
On the basis of end-use, the global snack food packaging market is segmented into,
- Full service restaurants
- Quick service restaurants
- Food truck
Snack Food Packaging Market: Region wise Outlook
In geography, the global snack food packaging market is divided into majorly five regions such as North America, Latin America, Europe, Asia Pacific and Middle East & Africa. In the global snack food packaging market, developed countries of North America like U.S, accounts for largest market share which is attributed to the high consumption of consumers as well as stringent government regulations on the safety and the quality of the snack food products. U.S is considered as a mature market for bakery and snack foods and is projected to grow with around 4% throughout 2016 to 2020 and Europe is considered to be the second largest market in the global snack food packaging market. However, outside of the U.S the opportunity to increase the sales of snack foods is also increasing as well. Asia Pacific is expected to be primarily driven mainly by china, Japan and India in the global snack food packaging market. Latin America and Middle East & Africa are expected to witness sluggish growth over the forecast period. In Latin America, Brazil, Mexico and rest of Latin America are expected to create market opportunities for companies involved in the global snack food packaging market.
Snack Food Packaging Market: Key Players
Some of the key players who are engaged in manufacturing snack food packaging are Sonoco Products, Sealed Air Corporation, Graham Packaging Holdings, Bemis Company, American Packaging, Bryce Corporation and many others, Swiss pack private limited and many more.
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.
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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?
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