Market Research Report
Global Cheese Based Snacks Market 2018-2022
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||750745|
|Published||Content info||125 Pages
Delivery time: 1-2 business days
|Global Cheese Based Snacks Market 2018-2022|
|Published: November 22, 2018||Content info: 125 Pages||
The cheese-based snacks market has witnessed a myriad of innovations over the last few years and there has been constant launch of new products in the market. For instance, In July 2017, Hormel Foods launched a new snack, a meat-cheese-and-sweet item, under its Natural Choice meats brand. The Kraft Heinz Company launched Snack Trios, a snack that features creamy cheese, rich dark chocolate, and sweet fruit. Therefore, the increasing new product launches by regional and international vendors are boosting the growth of the cheese-based snacks market. Technavio's analysts have predicted that the cheese-based snacks market will grow at a CAGR of over 5 % by 2022.
Taste preferences for processed snacks like cheese-based snacks are evolving as consumers, particularly the millennials, constantly seek different and new products. Therefore, manufacturers are striving to meet this rising demand through product innovation, brand-extension, and the introduction of new brands. Companies are focusing on introducing a wide variety of products that contains different flavors and ingredients. Plausibly, international brands are customizing their offerings to be in-line with local tastes.
The cost of raw materials has increased substantially in recent years owing to the widening gap between demand and supply. Any spurt in the price of raw materials, such as potatoes, corn, and nuts like almonds, not only raises manufacturing costs but also lowers profit margins of vendors. This is expected to be a challenging factor for companies during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the cheese-based snacks market during 2019-2023, view our report.
The cheese based snacks market appears to be fragmented owing to the presence of a considerable number of companies and the competitive environment is quite intense with all companies focusing on improving their market position. Some of the factors that are impacting the growth of the cheese based snacks market are the evolving taste preferences and the increasing new product launches. General Mills, Kellogg Company, Mars, McCain Foods, PepsiCo, Sargento Foods are some of the leading companies in the market.
'With the presence of a considerable number of companies, this market appears to be fragmented and with all companies constantly focusing improving their market positions, the competitive environment among the players is quite intense'. By offering a comprehensive analysis of the market's competitive environment and with information on the products offered by these companies, this cheese based snacks market analysis will help clients identify new growth opportunities and design new growth strategies.'