North America Sweet & Salty Snacks Market Overview:
Sweet and salty snacks have captured a considerable share of the modern diet. Americans have become snack extremists, munching more often than eating meals. The food sector plays an important role in the U.S. economy, accounting for around 5% of gross domestic product, 10% of the U.S. consumer’s disposable personal income. The food sector has total sales of around $1.4 trillion, including food consumed at home, and restaurants. According to this research report from IndustryARC, the North America sweet & salty snacks market size was between $74 billion to $75.5 billion in 2018, and the market demand is projected to grow at a CAGR of 2% to 3% during the forecast period of 2019 to 2025. The U.S. is foreseen as the key country for the growth, with the maximum share of 2% to 3% during the forecast period. Larger intake of salty snacks and sweetened caloric beverages and increased portion sizes of snacks have been observed as potential backers to daily food consumption in this region.
North America Sweet & Salty Snacks Market Outlook:
Analyst of the report says that, by type, salty snacks are highly consumed than sweets in this region; it is estimated to grow with a CAGR of 3% to 4% during the forecast period 2019 to 2025. In the U.S., 62% of healthy snackers snack at the time of meal. Fritter snacks are highly consumed in this region, other than traditional snacks such as flakes, nuts, and popcorn, which in turn is stroking the growth of the North America sweet & salty snacks market. A fritter is a fried food which consists of a portion of bread filled with bits of meat, fruits, and vegetables.
North America Sweet & Salty Snacks Market Growth Drivers:
Innovations in packaging are leading the growth of the North America sweets and salty snacks market. New innovations have made snack packs to contain shelf life-stable and refrigerated foods in the same container.
Adoption of various product innovations by manufacturers to meet changing consumer tastes is driving the growth of the market. On the confectionery side, manufacturers are successfully incorporating nutmegs and berries and other healthful ingredients such as yogurt into new chocolate bars and panned products in order to decrease the rates of childhood obesity.
North America Sweet & Salty Snacks Market Challenge:
The major challenge for the North America sweet & salty snacks market is getting enough B-12, which comes from milk and eggs, which is a specific concern in the plant-based diet as an absence can lead to neurological problems. In order to overcome this challenge, manufacturers are adding high nutrient ingredients such as beans, fruits and vegetables into the snacks. These snacks help to overcome from several health issues such as heart diseases, obesity, and neurological problems.
North America Sweet & Salty Snacks Market Key Players Perspective:
Lays is one of the brand that makes up Frito- Lay North America, the $15 billion convenient food division of PepsiCo, Inc. On 28 Feb, 2019, the brand has announced that it is going to manufacture a three delicious flavour meets music experience like never before. The flavors are inspired by three beloved music genres such as Pop, Hip Hop and Rock. Individual flavor will completely unlock a new song from one of the most musically-diverse artists in the music industry, Bebe Rexha.
The tangy and vibrant flavors of Lay's Wavy Electric Lime and Sea Salt are energetic and upbeat like the fun-filled melodies and lyrics of Pop Music. Lay's Flamin' Hot and Dill Pickle together to create perfect harmony, rapper and songwriter Saweetie is signed along withBebe's Hip Hop remix that takes the marketing of the product extensionto the next level. And, Lay's Kettle Cooked Classic Beer Cheese is a bold, exciting flavor that matches the incredible genre of Rock Music. Music is an undying market and collaborations of such extent is all set to stroke the North America sweet and salty snacks market with abundant demand.
Some of the other players operating in the North America Sweet & salty snacks market are Kellogg Company, ITC Limited, Nestle S.A., Tyson Foods, Inc., and Conagra Brands, Inc.
North America Sweet & Salty Snacks Market Trends:
As salty snacks are packed with proteins and wholesome ingredients, they are increasingly used as mini meals. Unilever an Indian company has transformed lunchtimes of employees with Prep Co, which offers a fuss-free healthy snack to enjoy at the desk.
Coconut based sweets & snacks, in particular chunks, flakes, and creams are receiving a great attention from food consumers of North America. Snack producer Forest Feast has privileged the coconut in its Forest Feast Fruit Ball range, which includes Mango & Coconut, and Milk Chocolate.
Although, meat snacks have a presence globally, fish became the primary snack in North America due to its large amount of proteins; which is beneficial for human eye sight.
North America Sweet & Salty Snacks Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the North America sweet & salty snacks market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of North America sweet & salty snacks market, and their specific distribution channels.
North America Sweet & Salty Snacks Market Industry Coverage:
Types of North America Sweet & Salty Snacks: Chips, Extruded snacks, Flakes, Nuts, Popcorn, Pretzels, and Traditional snacks.
Distribution Channel of North America Sweet & Salty Snacks: Supermarkets/Hypermarkets, Convenience stores, Specialty food stores, and Online.
The North America sweet & salty snacks market report also analyzes the major geographical regions for the market as well as the major countries for the markets in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
- Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
- APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
- Middle East and Africa: Israel, South Africa, Saudi Arabia