Key regions: Philippines, South Korea, Canada, Japan, China
The Confectionery and Snack Food market in Israel is experiencing minimal growth, influenced by factors such as changing consumer preferences towards healthier options, increasing competition from other food categories, and economic challenges. Despite this slow growth, convenience and indulgence continue to drive demand in the market.
Customer preferences: As Israeli consumers become more health-conscious, they are gravitating towards healthier snack options such as organic and plant-based snacks. This trend is further propelled by the growing vegan and vegetarian population in the country. In addition, there has been an increased demand for snack products that cater to specific dietary restrictions, such as gluten-free and lactose-free options. This shift in consumer preferences is driven by a desire for healthier and more sustainable snacking options.
Trends in the market: In Israel, the Confectionery & Snacks Market within The Food market is experiencing a surge in demand for healthier and more nutritious options. This trend is being driven by a growing health-conscious population and increasing awareness of the importance of a balanced diet. As a result, there has been a rise in the availability of organic and healthier snack options, such as fruit and nut bars, as well as a shift towards more natural and locally sourced ingredients. This trend is expected to continue, with consumers becoming more selective in their snack choices and demanding transparency and sustainability from manufacturers. This presents a significant opportunity for industry stakeholders to tap into this growing market and cater to the changing preferences of consumers.
Local special circumstances: In Israel, the Confectionery & Snacks Market within The Food market is heavily influenced by the country's diverse cultural landscape. With a large immigrant population, there is a demand for unique and traditional snacks from specific regions, leading to a wide variety of products in the market. Additionally, strict kosher certification requirements set by the government also play a role in shaping the market, as many consumers adhere to these dietary laws. These factors contribute to the dynamic and diverse nature of the Confectionery & Snacks Market in Israel, setting it apart from other markets.
Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in Israel is heavily influenced by macroeconomic factors such as consumer spending power, trade policies, and government regulations. The country's strong economy and high disposable income of its citizens have contributed to the growth of this market. Additionally, Israel's strategic location and trade agreements with neighboring countries have facilitated the import and export of confectionery and snack products, further boosting market growth. Furthermore, the government's support for small and medium-sized enterprises in the food industry has created a favorable business environment, leading to increased investments and innovations in the market.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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