Key regions: Japan, India, China, United Kingdom, South Korea
The Snack Food Market in Jordan is experiencing minimal growth due to factors such as fluctuating consumer demand, increasing competition, and changing dietary preferences. Despite this, the Confectionery & Snacks Market continues to see steady growth, driven by the convenience and variety offered by sub-markets such as Tortilla Chips, Flips & Pretzels, Potato Chips, and Cookies & Crackers. However, the overall market growth is being impacted by the country's economic challenges and limited purchasing power of consumers.
Customer preferences: As more consumers in Jordan turn towards convenience and on-the-go snacking options, there has been a rise in demand for healthier and natural snack choices. This trend is driven by a growing awareness of the importance of a balanced diet and the impact of food choices on overall health and well-being. As a result, the market has seen an increase in the availability of organic, low-sugar, and gluten-free options, catering to the preferences of health-conscious consumers. This shift is also influenced by the rise in disposable income and changing lifestyles, with busy individuals looking for quick and nutritious snack options.
Trends in the market: In Jordan, the Snack Food Market of the Confectionery & Snacks Market within The Food market is experiencing a surge in demand for healthier snack options. This trend is driven by the increasing health consciousness among consumers, who are seeking out snacks that are low in calories, sugar, and fat. The market is also witnessing a rise in plant-based and organic snacks, as well as a growing interest in functional snacks that offer added health benefits. This trend is expected to continue, with consumers becoming more health-conscious, and industry players are responding by innovating and expanding their product portfolios to cater to this demand. This trend has significant implications for industry stakeholders, as they need to adapt their strategies to cater to the changing consumer preferences and capitalize on the growing demand for healthier snack options. Companies can also leverage this trend by marketing their products as healthy and differentiating themselves from their competitors. However, there may also be challenges, such as higher production costs and potential supply chain disruptions due to the use of premium ingredients in healthier snacks. Overall, the trend towards healthier snacks in Jordan presents opportunities for industry stakeholders to tap into a growing market segment and meet the evolving needs of consumers.
Local special circumstances: In Jordan, the Snack Food market is heavily influenced by the country's geographical location and cultural preferences. Located in the Middle East, Jordan is known for its rich culinary history and diverse cuisine. As a result, the Snack Food market in Jordan offers a wide range of unique and traditional snacks, such as falafel, hummus, and baklava. Additionally, the government's regulatory policies, such as import restrictions and taxes on foreign snacks, have created a thriving local market for Jordanian snack food brands. This local influence has shaped the dynamics of the Snack Food market in Jordan, making it distinctive from other markets in the region.
Underlying macroeconomic factors: The Snack Food Market of the Confectionery & Snacks Market within The Food market in Jordan is influenced by various macroeconomic factors. The country's stable economic growth, favorable investment climate, and government initiatives to promote foreign investment have contributed to the overall growth of the market. Additionally, the increasing disposable income of the population and changing consumer preferences towards convenient and healthier snacking options are driving the demand for snack foods in the country. Moreover, Jordan's strategic location and well-developed transportation infrastructure make it a major hub for regional trade, further boosting the growth of the snack food market. However, factors such as fluctuating raw material prices, inflation, and currency exchange rates can impact the profitability of snack food manufacturers in the country.
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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