Consumption of baked snacks has been popular among the workforce worldwide owing to their busy work schedules. These healthy foods help maintain the body’s metabolism, as well as control hunger between meals. The trend of on-the-go food products and various baked foods such as popcorn, biscuits, snacks, and others has a positive impact on global baked snacks market growth.
The increasing popularity of breakfast products, driven by aggressive advertising, distribution, and marketing activities, contributes to the high sales of baked snacks. The launching of premium baked products for snacks will further increase the growth prospects of the global market in the coming years. The growing consumer demand for low-fat, gluten-free, and sodium-containing foods and a sharp drop in healthy baked and salted foods will contribute significantly to the growth of the global baked snacks market. The trend to replace snacks is fueled by a large pool of the working class, which has increased demand for baked products.
To cite, Nature’s Bakery launched Baked-Ins, the brand’s first organic baked snacks bar with real fruits and vegetables. Baked-Ins are made with whole oats, in addition to hidden fruits and vegetables, carrots, sweet potatoes, apples, and cabbage. The baked food product by Nature’s Bakers is available in two varieties; banana chocolate chips and chocolate oats. The new addition complements the existing product portfolio that includes brownies bars, fig bars, and others.
The global market for baked snacks is categorized into type, application, and region. The type segmented is classified into western-style snacks, Chinese-style snacks, others. Based on the application, the global baked snacks market is diversified into takeout and dine-in.
Based on the geographical landscapes of the global baked snacks market, North America holds a dominating position owing to the high consumption of snacks among the working population and changing eating habits. Moreover, the Asia Pacific region is projected to witness rapid growth, led by the growing penetration of e-commerce websites dedicated to food & snacks and the growing fad of healthy snacks over meals. On the other hand, Latin America and the Middle East & Africa regions are poised to show moderate growth in the coming period, as more brands look to tap the unexplored markets in this region.
With the intense competition between the key players, manufacturers are targeting diverse expansion and growth strategies to tap the global baked snacks market. Some of the leaders operating in the global market include Grupo Bimbo, Pepperidge Farm, Snyder’s-Lance, ConAgra Foods, Kellogg’s, and Schwan’s, among others.