SAN JOSE, Calif. The global snack foods market should hit $278.7 billion in annual sales by the year 2010, says a new report by Global Industry Analysts.
Experts say snacking trends are on the rise due to busier lifestyles and increased awareness about healthy living. They say such packaging as single-serve or bite-sized packs, resealable snack containers and ready-to-eat items has become a driving variable for commercial success.
Health-conscious snackers are paying more and more attention to low fat, low-calorie, organic and vitamin- and mineral-fortified snacks and “carefree” snackers are demanding more options for flavors to meet their cravings, they say.
The report also says that globalization of brands and products has helped consumers in the developing world catch up to the West. Asia Pacific, Eastern Europe and Latin America all present opportunities for more growth in the world snack foods market, they say.