Roasted snacks help food manufacturers command a premium price due to which they are keen on the production of the same. However, to tap the opportunities provided by roasted snack market, food manufacturers have started offering products in lower price points to appeal and cater to the masses which is likely to augment the growth of the market over the forecast period.
The launch of different kinds of roasted snacks in multiple variants, availability in a slew of flavors, and types have favored the market growth. Additionally, the rise in a number of retail establishments such as supermarkets and hypermarket, especially in the emerging economies have increased the access and visibility of these products, which has resulted in heightened sales of roasted snacks. The introduction of roasted snack in global flavors has also helped to attract a wide base of consumers.
The global snacking culture has undergone massive changes in recent years. Consumers prefer healthy snacking options, which are free from oil and low in calories, which has encouraged them to move towards healthier options such as roasted snacks. Market Research Future (MRFR) has recently released an exhaustive study on the global roasted snacks market size and has projected steady growth within the market over the forecast period of 2020-2027.
Snacks being an indulgent category, health-conscious consumers are constantly looking for healthier options. The consumption of unhealthy, deep-fried snack has reduced considerably given the increasing health awareness among consumers. To mitigate the challenge of declining demand, food manufacturers are increasingly introducing healthy snack options such as roasted snacks.
The rise in the number of working populations has fostered the growth of the roasted snacks market. Hectic lifestyles have put life on a fast track which has increased the demand for convenience food such as roasted snacks substantially.
Regional Analysis
Region-wise, the roasted snack market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The sale of roasted snack is the highest in North America due to the elevated level of health awareness among consumers. The trend of fitness as well as healthy snacking is prevalent in the region, which is favoring the growth of the market. Moreover, the region houses a number of leading market players. These players are actively involved in product development and innovation, which bodes well for the market.
Surging demand for gluten-free and low-calorie snack in Europe is boosting the demand for roasted snack in the region. The presence of a health-conscious population has resulted in ins shifting consumer preference from unhealthy to healthy snacking options.
The rise in the level of health awareness, coupled with a rise in spending capabilities, has increased the consumption of healthy food items. The increasing presence of market players in the region has also added fuel to the growth of the market.
Competitive Landscape
SunOpta Inc. (Canada), Jayone Foods, Inc. (U.S.), PepsiCo (U.S.), Godrej (India), Don't Go Nuts (U.S.), Biena (U.S.), and Thanasi Foods LLC (U.S.) are the key players in the roasted snack market.
Segmentation
The global roasted snack market research has been segmented based on source, claim, packaging material, and distribution channel.
By source, the roasted snack market has been segmented into nuts, grains, cereals, and others. The nuts segment is leading the market and is followed by the cereals segment.
By claim, the roasted snack market has been segmented into gluten-free, organic, vegan, and others. The gluten-free segment is the largest among all. Meanwhile, rising consumer affinity towards organic products is expected to provide a boost to the organic segment.
By packaging material, the roasted snack market has been segmented into paper, plastic, and others. The plastic segment is the largest, while the paper segment is the second largest.
By distribution channel, the roasted snack market has been segmented into store-based channel or non-store based channel. The store-based segment is dominating the market.
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