Hectic Lifestyles and Easy Availability of Ready to Eat Snacks in Attractive Variants to Drive Demand, states TMR
The global ready to eat snacks market is driven by a rise in the number of working women and hectic lifestyles of people, states a new report by Transparency Market Research (TMR). The report is titled, ‘Ready to eat Snacks Market – Global Forecast, Market Share, Trends, Size, Growth and Industry Analysis 2016 – 2023.’ The report gives a comprehensive analysis of the market’s historical and present figures, which is further used to derive reliable insights into the market’s future. It also discusses key segments of the global ready to eat snacks industry in detail.
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The report sketches out the competitive landscape, including the market share of top vendors, their business and financial overview, key strategies adopted by them, and information regarding their recent developments. Information regarding the degree of competition, threat of substitutes, threat of new entrants, and bargaining power of supplier and buyers has been given.
The global demand for ready to eat (RTE) snacks including frozen and chilled food products, is growing significantly owing to the minimal time required for heating them or frying them before eating. Ready to eat snacks are expected to become popular in the coming years owing to the less time available with people to prepare food at home. Additionally, the availability of a large variety of snacks are attracting consumers, thus boosting sales of RTE snacks.
As an increasing number of players in the market are concentrating on manufacturing new varieties of RTE snacks at affordable costs, the market is growing at a significant pace. RTE snacks offers convenience and an appealing alternative from traditional snacks, which is particularly driving their sales among the younger population base. Thus, there is a high demand for ready to eat snacks from the food service and retail segment. Moreover, a growth in quick service restaurants and the number of distribution channels worldwide is also encouraging the market to grow.
The global RTE snacks market is segmented on the basis of product and geography. By product, the market is segmented into corn specialties, potato specialties, and meat specialties. The potato specialties segment is further categorized into sweet potato cubes, French fries, wedges, croquettes, and hash browns. Similarly, the corn specialties segment is further categorized into crispy baby corn, corn nuggets, and pop-corn. Meat specialties comprise chicken wings, chicken nuggets, grilled meat, and wraps. On the basis of geography, the global ready to eat snacks market is segmented into Europe, North America, Asia Pacific, and the Rest of the World.
Key manufacturers operating in the global ready to eat snacks market are McCain Foods Limited, ConAgra Foods, Inc., Tyson Foods, Himalya International Limited, and Blaine Larsen Farms, Inc.