MRC Announces the Publication of its Research Report – Global Processed Snacks Market 2017-2021
MRC recognizes the following companies as the key players in the global processed snacks market: Aviko, Calbee, General Mills, Hormel Foods, Intersnack Group, Kellogg Company, McCain Foods, PepsiCo, and Tyson Foods
Other Prominent Vendors in the market are: Arca Continental, Blue Diamond Growers, Burts Potato Chips, Conagra Brands, Hain Celestial, Haldiram Foods International, Herr Foods, ITC, JFC International, KETTLE FOODS, Link Snacks, Mars, Mondelēz International,Old Dutch Foods, Orkla, Snyder's-Lance, The Kraft Heinz Company, The Lorenz Bahlsen Snack-World, Tyrrells Potato Crisps, and Want Want Holdings
Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Technological innovations. Manufacturers of processed snacks are investing in efficient processing equipment to provide consumers with high-quality food products. Florigo Industry launched a potato chip fryer with the patented Opti-Flow technology on October 27, 2016. This technology removes 99% of cyclone dead spots. This technology ensures that potato chips are free of excess oil. Potato chip manufacturers can, thus, lower the level of acrylamides and reduce the number of rejects, thereby enhancing both product quality and yield.”
MRC recognizes the following companies as the key players in the global processed snacks market: Aviko, Calbee, General Mills, Hormel Foods, Intersnack Group, Kellogg Company, McCain Foods, PepsiCo, and Tyson Foods
Other Prominent Vendors in the market are: Arca Continental, Blue Diamond Growers, Burts Potato Chips, Conagra Brands, Hain Celestial, Haldiram Foods International, Herr Foods, ITC, JFC International, KETTLE FOODS, Link Snacks, Mars, Mondelēz International,Old Dutch Foods, Orkla, Snyder's-Lance, The Kraft Heinz Company, The Lorenz Bahlsen Snack-World, Tyrrells Potato Crisps, and Want Want Holdings
Commenting on the report, an analyst from MRC’s team said: “The latest trend gaining momentum in the market is Technological innovations. Manufacturers of processed snacks are investing in efficient processing equipment to provide consumers with high-quality food products. Florigo Industry launched a potato chip fryer with the patented Opti-Flow technology on October 27, 2016. This technology removes 99% of cyclone dead spots. This technology ensures that potato chips are free of excess oil. Potato chip manufacturers can, thus, lower the level of acrylamides and reduce the number of rejects, thereby enhancing both product quality and yield.”
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According to the report, one of the major drivers for this market is Evolving taste preferences. Taste preferences of consumers in the processed snacks market are constantly evolving. Consumers, especially the youth, are eager to experiment with different products. Manufacturers strive to meet the evolved preferences of consumers through brand extensions, product innovations, and the introduction of new brands. Continuous product development and innovation are key toward sustenance in the market. Millennials are an expanding consumer segment for processed snacks, especially in Europe and the Americas.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in raw-material costs. The widening gap between product demand and supply in recent years (in the global processed snacks market) has increased raw-material costs substantially. An increase in the price of raw materials (such as potatoes, corn, and nuts) increases the manufacturing costs and decreases the profit margins of vendors. Increased raw-material prices influence manufacturers to experiment with cheaper substitutes. Increased raw-material costs also lead to increased power to raw-material suppliers in the market. Thus, fluctuations in raw-material prices negatively impact the vendors in the global processed snacks market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in raw-material costs. The widening gap between product demand and supply in recent years (in the global processed snacks market) has increased raw-material costs substantially. An increase in the price of raw materials (such as potatoes, corn, and nuts) increases the manufacturing costs and decreases the profit margins of vendors. Increased raw-material prices influence manufacturers to experiment with cheaper substitutes. Increased raw-material costs also lead to increased power to raw-material suppliers in the market. Thus, fluctuations in raw-material prices negatively impact the vendors in the global processed snacks market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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