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NEW YORK, Feb. 17, 2014 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
Market Focus: Trends and Developments in the Savory Snacks Sector in the US
This report provides a concise overview of the Savory Snacks market in the US. After reading this report, you will understand the size of the market, the economic, demographic, and behavioral trends that will drive its evolution and the leading players within the market, allowing you to plan effectively for the future.
Introduction and Landscape
Why was the report written?
This overview of the consumer and market dynamics of the US Savory Snacks sector allows new entrants and established players to gain rapid and comprehensive insight into the current state of the market and identify the key trends that will drive growth in the coming years.
What is the current market landscape and what is changing?
Americans look for spontaneous food alternatives due to their busy lifestyles, which means consumers often multitask, trying to eat whilst they also engage in other activities. Snacks form an important part of the American diet, and are eaten by every segment of the population. The increasing desire to create time to relax from work, find fun products, and the desire for new experiences among American consumers is expected to increase the demand for a different variety of snacks.
What are the key drivers behind recent market changes?
Most Snack foods are considered to be indulgence Food. However, high income levels and health consciousness have raised demand for low fat and non-fat snack products that still taste good.
What makes this report unique and essential to read?
This report brings together consumer insight and market data to provide a comprehensive brief of the US Savory Snacks sector. This allows for the rapid identification of key growth opportunities across major Savory Snacks categories and their packaging.
Key Features and Benefits
Analysis of consumer behavior, economic conditions, and demography reveals emerging opportunities in the Savory Snacks sector.
Key growth categories are highlighted by analyzing the market dynamics of major Savory Snacks categories.
Market shares are provided for the leading brands and private labels across Savory Snacks categories.
An overview of packaging trends in the US Savory Snacks sector is provided, including primary packaging material and type, packaging closures, and outer packaging.
Key Market Issues
A growing proportion of Millennials (those who are born between 1978 and2000) among the US population and rising living standards will fuel the growth for consumer packaged goods in the country.
Throughout 2009 to 2012 Hypermarkets and Supermarkets have remained consumers' preferred retail format for Food items in the US.
Convenience is of growing importance in US food culture, as consumers look for quick and easy options as a result of busy lifestyles, an increasing number of single parent households, and arise in the number of working women.
Women account for the majority of snacks consumption by volume. Both male and female markets are focused on a time-rich and older population. In addition, consumer analysis based on Wealth Groups reveals that moderate income men and affluent women have the highest consumption share.
The desire to seek out indulgent products that help consumers relax and enjoy personal space are important key touch points for consumers that should be used to drive product benefits and communications.
This price sensitivity has driven a reduction in pack size by manufacturers, rather than an increase in price.
Increasing health-consciousness is leading to increased demand for products with functional and natural ingredients. Functional snacks such as nuts are gaining in popularity among American consumers.
With a rapidly aging population, marketers face the challenge of targeting middle-aged consumers and their specific nutritional needs and consumption habits. Manufacturers of Savory Snacks have adopted product innovation as a key strategy to win over new consumers, and also gain market share from competitors.
Young and urban-based consumers will continue to seek out fun products and those that help them relax, leading to the growth of Savory Snacks products in the country.
The Savory Snacks sector constitutes the largest market for Flexible Packaging in terms of total pack numbers. Robust growth in Potato Chips and Processed Snacks is expected to further boost demand for Flexible packaging, as it provides size flexibility, and ease of storage and transportation.
- The growing influence of an affluent Millennial population will drive demand in the US
- Food retail sales are concentrated in national chains
- Hypermarkets and Supermarkets account for the largest share of sales in the US Savory Snacks market
- Improving economic conditions will drive the food services market in the US
- Female consumer have a higher consumption share of Savory Snacks products
- The frequency of consumption for Savory Snacks is highest amongst Tweens and Early Teens in US
- Personal Space and Time is the most influential trend driving the American Savory Snacks Purchases
- The Savory Snacks market has grown steadily over the past five years, and this is set to continue with the same rate
- Nuts and Seeds and Potato Chips are driving growth in the Savory Snacks sector
- Potato Chips to increase its market share during 2007-2017
Brands and Private Labels
- With the exception of Nuts and Seeds, Private Label penetration is moderate
- Key brands by category
- Flexible Bags and Sachets dominate Savory Snacks packaging
- Flexible packaging to increase its share as the preferred packaging material for Savory Snacks
Future Outlook- four key trends in US's Savory Snacks sector
- Increasing Input costs will impact Prices and profitability
- Demand for novel and functional snacks will increase
- New product innovation is the key strategy to grow the sector
- Fun, taste and relaxation will remain more important than health
Data Appendix and Summary Methodology
General Mills, Inc., JFC International,Inc., Wise Foods, Inc., ConAgra Foods, Inc., Jack Link's NZ LTD., Oberto Brands, Blue Diamond Growers ,Kraft Foods Group, Inc. ,Paramount Farms International LLC ,
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