PepsiCo., Inc. is Committed to Expanding its Product Line by Launching New Items
In October 2019, PepsiCo., Inc. concentrated on expanding its product line by bringing out new items that better meet the needs of contemporary consumers. The business has introduced the Smart50 brand of nutritious popcorn. These popcorns are manufactured entirely of healthy grains and are free of preservatives and artificial flavors.
Growing Demand for Healthy/Functional Foods to Support Demand for Healthy Snack Products
Consumers' growing demand for functional foods to preserve overall health and lower the risk of some chronic health disorders linked to certain lifestyles is the key factor driving the global market. In the food aisles, customers are still looking for healthier options. Food items that are functionally enhanced with substances, including micronutrients, proteins, plant-based, fiber, organic, and clean-label products, among others, have become commonplace in retail channels. The market for healthy snacks is expanding due to the increased marketing of foods with such functional properties as those that help with weight management, digestive health, and the prevention of obesity, diabetes, and cardiovascular illnesses.
Technological and Processing-Related Challenges will Stymie Market Growth
Manufacturing challenges hamper the healthy snack market. The texture and crispiness of any snack are important characteristics consumers look for when purchasing a product. Reduced or eliminated fats and sugar, as well as the inclusion of whole grains, negatively impact the moisture retention and binding capacity of ingredients, affecting the final product's texture. Similarly, the fruit and vegetable snacks segment presents preservation and shelf stability challenges. The development of clean-label snacks, such as additive-free and preservative-free products, may pose challenges due to the lack of ingredients that aid in emulsification, stabilization, and creamy texture.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the healthy snacks market plan acquisitions to improve their brand recognition globally. For instance, in January 2021, Farmwise L.L.C., a Massachusetts-based producer of veggie tots, frozen veggie fries, and veggie rings, was bought by B&G Foods, Inc. The frozen vegetable snacks from Farmwise are made of cauliflower, navy beans, and onions. The foods are devoid of main allergens like gluten, wheat, soy, dairy, tree nuts, and peanuts and are vegan, non-GMO Project verified, and allergen-free.
Notable Industry Development
- February 2020: Hu Master Holdings, the parent company of Hu Products, a rapidly expanding US-based snacking business that offers high-quality snacks produced from basic ingredients, was purchased by Mondelez International.
List of Key Players Profiled in the Report
- The Kellogg Company
- MondelÄ“z International;
- Hormel Foods Corporation
- Dole Packaged Foods, LLC.
- Del Monte Foods, Inc.
- Select Harvest
- B&G Foods
- Monsoon Harvest
Further Report Findings
- The market in the Europe is expected to gain a huge portion of the global healthy snacks market share in the coming years. Customers' shifting eating patterns, such as snacking in between scheduled meals or replacing meals with snacks.
- Demand for the product in the region is also anticipated to rise as people's preferences for healthy alternatives rise.
- In Asia Pacific, the growth in this region is primarily driven by the modernization and the rising desire for snacking options in developing nations like India and China.
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