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Global Data insights: Top trends in the savoury sector

posted on September 04, 2017 by Michael Green

 

The global snacks markets is booming. According to leading market research company Global Data,[1] the savoury snacks segment is forecast to record a CAGR of 6.0% until 2021. Driven by a stronger global economy, rising urbanisation rates, growing disposable incomes and a change in consumer lifestyles, this 96.6 billion dollar industry is showing no signs of slowing down. Let’s take a look at the key trends that are currently shaping the market.

 

Trend 1: Healthy

The healthy snacking trend has been around for a couple of years now and research indicates it’s here to stay. Growing awareness of the effects of high levels of sugar, fat and salt has not only increased consumer preference for ‘better for you’ snacks, but has also resulted in governments across the world looking at options on how to limit the amount of these ingredients. This is further intensifying the pressure on snack manufacturers to reformulate their products. Processing technology that can overcome challenges associated with the use of healthier ingredients will play a key role in helping manufacturers meet these demands.

 

Trend 2: Premium

Indulgence remains a key motivator when it comes to snacking across the world. On the hunt for the ultimate taste sensation, more and more consumers are opting for high-quality snacks with premium ingredients or decadent flavour combinations. A lot of brands have therefore started adding high-quality ingredients such as truffle or cider vinegar to their snacks in an effort to differentiate their product line and enhance their position in the gourmet snack segment. With the costs of ingredients rising, minimising waste from fall-off or inappropriately seasoned products will become more important than ever.

 

Trend 3: Single serve

The number of one person households worldwide is rising rapidly. Research indicates that by 2020, approximately 414 million of us will be living in single-person households globally, making up around 18% of total households worldwide.[2] To capitalise on the opportunities this growing consumer base offers, more and more snack brands have started offering smaller, single serve portions. Speed will be a key benefit to secure manufacturers’ profitability by helping them retain production volumes when producing smaller bags.

 

Trend 4: Sustainability

Just like the rest of the food industry, snack manufacturers are under increasing pressure to ensure their production processes become more sustainable. Today, failure to do so can not only result in hefty fines, but can also easily impact on a brand’s reputation. Waste reduction is therefore top of the agenda at many snack plants. Controls technology and advanced equipment solutions like fryers with sophisticated heat exchangers will be instrumental in making production processes more sustainable.

The global snacks market is evolving at a dizzying speed. With so much potential for growth, it’s vital snack manufacturers have the tools they need to overcome the challenges and maximise the opportunities this dynamic segment is offering.

At tna, we have the market insights, as well as the technology to help you gain that all important competitive edge. Contact us now or download our white papers, if you want to find out how our fryers help you create healthier snacks, how our seasoning technology maximises the use of your premium ingredients or how our packaging systems offer you the fastest bagging speeds on the market  – all while ensuring you maintain a sustainable production process.

Look out for our next blog, where we explore how to appeal to different generations of snackers.

 

 

[1] Global Data: Opportunities in the Global Savory Snacks Sector (June 2017)

[2] IORMA: Households – Global Trends and Forecasts with respect to Size, Composition and Structure (June 2016) - http://www.iorma.com/households-global-trends-and-forecasts-with-respect-to-size-composition-and-structure.html

 

Posted in: Flexibility

 

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