Key regions: Japan, India, China, United Kingdom, South Korea
The Snack Food market in EMEA has seen modest growth due to factors such as increasing demand for convenient and healthy snacking options, as well as the availability of a wide variety of snacks. However, the market growth is expected to remain minimal due to the saturated nature of sub-markets such as Tortilla Chips, Flips & Pretzels, Potato Chips, and Cookies & Crackers.
Customer preferences: With the rise of health and wellness consciousness, consumers in the Snack Food Market of the Confectionery & Snacks Market within The Food market are gravitating towards healthier snack options. This has led to an increase in demand for products with clean labels and natural ingredients, as well as plant-based and gluten-free alternatives. Additionally, there is a growing interest in functional snacks that offer added health benefits, such as protein bars and energy bites. This trend is driven by the desire for convenient and nutritious on-the-go snack options among busy consumers.
Trends in the market: In EMEA, the Snack Food market is experiencing a surge in demand for healthier snack options, with consumers increasingly seeking out plant-based, gluten-free, and organic snacks. This trend is driven by a growing awareness of the health benefits associated with these snacks, as well as concerns over sustainability and ethical sourcing. As a result, we are seeing a rise in new product launches that cater to these preferences, and this trend is expected to continue in the coming years. This shift towards healthier snacking is significant for industry stakeholders, as it presents opportunities for growth and innovation, but also poses challenges in terms of adapting to changing consumer preferences and meeting stricter regulations.
Local special circumstances: In EMEA, the Snack Food Market of the Confectionery & Snacks Market within The Food market is heavily influenced by the diverse cultural preferences and regulatory landscape of the region. For instance, in Europe, there is a growing demand for healthier snack options due to increasing health consciousness among consumers. In the Middle East, the market is driven by the popularity of traditional snacks such as baklava and halva, while in Africa, there is a rising trend for snacking on locally sourced and sustainable products. These unique factors shape the market dynamics and dictate the types of snacks that are popular in these regions.
Underlying macroeconomic factors: The Snack Food Market of the Confectionery & Snacks Market within The Food market is heavily impacted by macroeconomic factors in the EMEA region. The overall economic climate, including global economic trends and national economic health, plays a significant role in influencing the performance of the market. Fiscal policies, such as trade agreements and tax regulations, also have a direct impact on the growth and profitability of the Snack Food Market. In addition, other financial indicators, such as consumer spending power and inflation rates, can affect the demand for snack foods and snacks. The market is also affected by changing consumer preferences and lifestyles, which are influenced by factors such as income levels, urbanization, and cultural influences. As such, companies operating in this market must closely monitor and adapt to these macroeconomic factors to remain competitive and drive growth.
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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