Published By : 02 Jun 2016 | Published By : QYRESEARCH
Ready to eat snacks are gaining tremendous popularity among different age group individuals over the last few years. Ready to eat snacks include food products of several types that are either available on the shelf or are chilled or frozen that can be prepared in minimal time. The rising popularity of these products has aroused the interest of several manufacturers to introduce new products to attract new consumers and obtain competitive advantage in the market.
There are several factors that are driving the ready to eat snacks market. In recent years, ready to eat snacks have been gaining popularity due to the busy lifestyle of the global population, which does not leave adequate time for food to be prepared at home. Moreover, an increasing number of women in the workforce is a reason for increased demand for the convenience foods across the world. The variety of food products available is also attracting consumers to buy these foods. The convenience factor of ready to eat snacks is the unique selling preposition of these products.
The top players involved in the market for ready to eat snacks are spending heftily in advertising and marketing to boost sales of their products. In addition, some of the leading players such as Blaine Larsen Farms Inc., Tyson Foods, McCain Food Limited, and ConAgra Foods Inc. are making proactive efforts to launch innovative products and concentrate on their presentation and packaging. These strategies are expected to help players expand their horizon and create a niche for themselves in the global market.
Players operating in the ready to eat snacks market face operational barriers as well. Ready to eat snacks are convenient but are low in nutrition. Consumers are recognizing the health implications of these products if consumed for long period, the reason the market will face hampered growth in the next few years.
Currently, companies in the ready to eat snacks market are focused on innovation and expansion of their product portfolio. The inclusion of healthy food options and offer baked products instead of deep fried foods holds growth opportunities for top players in this market.