Processed Snacks Market Growth Analysis 2021-2027

1. Processed Snacks Market

2. A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting revealed that the global processed snacks market was worth USD 390.3 billion in 2020 and is projected to reach USD 493.8 billion by 2026. One of the major factors driving the global market for processed snacks has been the shift in consumer eating habits. Processed snacks are usually more compact and less perishable than prepared foods. Moreover, other than preservatives and sweeteners, packaged snacks typically contain appealing ingredients such as special flavors, peanuts, and chocolates, which make them ideal to be eaten at any time of the day. Since consumers are opting for healthy ingredients such as high-fiber, protein, and whole-grain snacks, the growth of the processed snacks market in the forecast period is likely to accelerate with the growing demand for healthy snacks. Owing to the increasing trend in urbanization, more people are getting employed, which in turn is impacting their work-life balance. The need for work-life balance and pre-packaged snacks that involve little to no kitchen-time leads customers to surprising new breakfast, lunch, and dinner options.

3. Ease of Availability of Raw Materials Raw materials for processed snacks such as fruits, vegetables, grains, flour, etc., are easily available in the market, thus, boosting the manufacturing process of processed snacks and propelling the market growth. According to the United States Department of Agriculture, from 2018 to 2019, soybean production went up by 13%, which represents 8% of the total US soybean production. This is a key factor boosting the production of processed snacks, thereby propelling the market growth. It is the R&D department that picks the right raw materials depending on functionality. Here functionality denotes multiple factors, such as preservatives for extending shelf life, organoleptic properties of food (color, taste, texture, and aroma), product-safety characteristics and offering the finished product with specific characteristics (thickeners, binders, etc). Read More:https://www.blueweaveconsulting.com/global-processed-snacks-market/report-sample