GROWTH OF READY TO EAT SNACKS MARKET: HEALTHIER, TASTIER & ECONOMICAL

Ready to eat (RTE) snacks contribute significant revenue to the overall packaged food industry, thanks to milliennials, who consume more snacks than any other group. Snacks are becoming a meal replacement trend owing to this generation, which presents immense scope for growth. Due to the high convenience quotient of RTE snacks, Transparency Market Research (TMR) predicts robust growth for the ready-to-eat snacks market in the coming years.

Changing eating habits of the masses have played an integral role in driving sales across the global ready-to-eat snacks market. Presence of a seamless retail sector, coupled with increasing demand for evening snacks, has aided market growth. There is a peculiar sense of liking for ready-to-eat snacks amongst large groups of consumers. Besides, several people replace their regular meals with snacks for the ease of consuming the latter. The aforementioned trends are indicative of accelerated growth across the global ready-to-eat snacks market. The market players are making serious efforts to manufacture new types of snacks that are healthier, tastier, and more economical to buy.

Consumption of ready-to-eat snacks at picnics, informal gatherings, and parties has become an established trend. Besides, several new types of snacks such as fries, nachos, baked beans, and high-fibre biscuits are available across retail outlets. The efficiency of retail outlets in selling out new types of snacks has majorly helped market vendors in upping their revenues. The presence of several local sellers of ready-to-eat snacks has also played to the advantage of the market players. In this scenario, it is safe to expect that new vendors would want to utilise the lucrative opportunities floating across the market. However, ready-to-eat snacks require intense research and development before they can be put to manufacturing.