Crackers Market – Drivers and Forecasts by Technavio | Business Wire

LONDON–(BUSINESS WIRE)–Technavio

analysts forecast the global

crackers marketto grow at a CAGR of over 10% during the

forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of

the global crackersmarketfor 2017-2021. Technavio presents a detailed picture

of the market by way of study, synthesis. Summation of data from

multiple sources.

The growth is expected to be primarily because of the increase in demand

for healthy snacks. With its rising popularity, an increasing number of

consumers in most of the developed and developing countries are

purchasing crackers. However, the growth of the market will be affected

by the multiple product recalls that's the potential to hamper the

brand image and the consumer trust. In addition to this, stiff

competition from competitive products like savory snacks and other

biscuits will also impede the market growth.

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Technavio analysts highlight the following three factors that are

contributing to the growth of the global crackers market:

  • Demand for healthy snacks

  • Increasing purchase by household customers

  • Omni-channel retailing

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Demand for healthy snacks

Consumers are increasingly becoming more aware of the food ingredients

and look for better-for-you ingredients that are of high-quality. Apart

from this, there has been a notable change in the food preference of

consumers, as most of them are trading their routine meals for snacks.

So, this increases the demand for healthy snack foods. Therefore, the

increasing consumer interest in healthy ingredients in snacks is the key

factor driving the demand for crackers.

Manjunath Jagannath, a lead food

research analyst at Technavio, says, “High-protein, legumes,

vegetables, whole grains. Others are becoming popular as the key

elements in crackers. Crackers are marketed as biscuits made from

healthy ingredients. Most of the consumers consider crackers as healthy

snacks, as it's lesser calories than others. Apart from traditional

saltine crackers, many vendors have launched various healthful crackers

to meet the demands of health-conscious consumers.”

Increasing purchase by household customers

The demand for crackers is rising in every household. Along with healthy

crackers, the demand for traditional saltine crackers is also high.

Consumers are looking for a wide range of options from traditional to

health-focused. Thus, the changing taste preferences in crackers is

growing as consumers wish to try and constantly look for different

flavors and products.

“Crackers are available in the market in many flavors and varieties,

such as butter crackers, matzoh crackers, cheese crackers, breadsticks,

water crackers, goldfish crackers, graham crackers. Others. Each of

these varieties of crackers has different flavor, taste. Uses. To

meet the demand for crackers, a wide range of options and varieties are

available in the market,” adds Manjunath.

Omni-channel retailing

Omnichannel retailing is a cross-channel sales model. This type of

retailing uses a combination of different distribution channels to

increase customer engagement. Crackers are available in almost all

retail channels easily. With the rise in demand for crackers, there has

been growth in the different cracker markets across the globe. Crackers

are available not just in retail (brick and mortar) stores but also on

different e-commerce websites.

With the rise in internet penetration rate, e-commerce business is

booming. These platforms also offer a wide range of crackers. E-commerce

websites like Walmart, Amazon, Alibaba. Others offer crackers.

Crackers of many brands and private-label brands are available on these

portals. Thus, product variety available at these platforms is much more

than brick and mortar stores (retail outlets).

Top vendors:

  • Intersnack Group

  • Kellogg

  • Mondelēz International

  • PepsiCo

  • Snyder’s-Lance

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