Crackers Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2016 - 2023
Albany, NY -- (SBWIRE) -- 11/29/2016 -- The World Health Organization (WHO) states that the worldwide prevalence of obesity has more than doubled itself since 1980. In 2014 the WHO reported that more than 600 million adults aged 18 years and above were obese. The increasing incidence of obesity and other health disorders spurred by insalubrious diet and lifestyle has become a global concern. Such growing awareness regarding health and wellness is a key factor giving impetus to the global crackers market.
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Usually made of multi-grain and flour, crackers constitute the core of the consumer segment in the food industry that is driven by health and wellness concerns. These consumers are mostly attracted to snacks processed from healthy ingredients such as legumes, vegetables, ancient grains, and high protein foods. With leading vendors continuing to launch more variants of healthy crackers, the market is expected to exhibit substantial growth in the near future. The four most popular categories of crackers available in the market are flaked soda crackers, graham crackers, cheese crackers, and others. Based on geography, the market can be segmented into North America, Europe, Asia Pacific, and Rest of the World.
The report studies and presents an executive level blueprint of the global crackers market. The report analyzes the market on three fronts: application, end user, and industry vertical. Each of these segments are further sub-segmented on which a detailed analysis is conducted. The report also provides the growth forecasts for these segments.
Overview of the Crackers Market
The global crackers market is likely to demonstrate a positive CAGR between 2016 and 2023. The consumption of crackers has increased considerably around the world. These healthy snacks are available in different varieties and flavors, which subsequently has fuelled their popularity in the global market. Since, crackers are made from nutritional ingredients, they are increasingly preferred over other snacks for household consumption.
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The most prominent names in the restaurant industry have also included crackers as popular snacks in their menu. Served alongside wine, soups, sea-foods, and salads, the growth prospects for crackers in the next few years seem very impressive.
Despite the crackers market witnessing rapid innovation and the entry of new competitors, comforting and old-fashioned crackers still dominate the market mainstay. However, inadequate awareness about the presentation and preparation of crackers and their insignificant shelf presence in retail stores are the key factors limiting the global crackers market. Besides, awareness pertaining to the usage of crackers is limited to niche markets in developed countries. Nevertheless, shifting lifestyle preference of middle class population in emerging economies of Asia Pacific such as India and China in the next few years will boost the growth opportunities for the market.
Companies mentioned in the research report
Demand in the global crackers market is driven by the changing dietary preferences and health considerations of the global consumers. The profitability of the key players in this market, therefore, is determined in terms of effective marketing, operational efficiency, and strong sales force. While large companies enjoy an upper hand in purchase, distribution, and marketing, smaller companies can attain competitiveness by manufacturing high-end and sugar-free crackers. Some of the key companies in the crackers market profiled in the report are M.Y.San, Nestle, Kellogg's, Mondelez International, Captain's Wafers, Natures Pear, Bremner Biscuit Company, and Keebler Company.
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