New Market Report: Innovation in Savory Snacks

Feb. 28, 2010 - PRLog -- In 2009 the global savory snacks market was worth $74.7bn. The market is set to grow in value by $10.8bn to $85.4bn by 2012.  Value growth will be driven by a mix of steady growth in the most established markets in Western Europe, the US and Asia Pacific regions and high growth of the emerging markets, in particular South and Middle American markets and the Chinese, Indian, Russian and Turkish markets.

Three key areas of innovation will drive development in snack formulations; these are premiumization, health and ethics.  Innovation will be most significant in areas where the trends overlap, and as a result the 'natural' positioning will significantly increase in importance.

Through analysis and forecasts, this report provides insight into growth opportunities by region and category.  Innovation trends are identified through a study of global new product introductions.  Legislation, self-regulation and social trends impacting the savory snacks market are highlighted and the importance of emerging trends assessed

Key features of this report

* Overview of legislation and self regulation impacting on and shaping innovation in the savory snacks market.
* Identification of key trends shaping the market as well as an evaluation of trends that are likely to shape the market over the next few years.
* Analysis of savory snacks sales values in Europe, North America, South America, Asia-Pacific, the Middle East & Africa with projections to 2012.

Scope of this report

* Gain an understanding of how legislation and self regulation are influencing NPD and learn how manufacturers are adapting product positionings accordingly.
* Understand each regional market in terms of absolute size.
* Quantify value growth potential in major regional markets and across savory snacks categories.
* Take advantage of a comprehensive review of global NPD with detailed analysis of innovation in savory snack products between 2005 and 2009.

Key Market Issues

* With Governments increasingly concerned about the strain of obesity on their nation's health and wealth high profile awareness campaigns have been orchestrated to raise awareness of health and diet.
* With the cost of heart disease an increasing burden on the global economy the World Health Organization now recommends that the most effective way to tackle heart disease is to introduce population-wide efforts to reduce risk factors through multiple economic and educational policies and programs.

Key findings from this report

* The processed snack category, which includes extruded snacks, tortillas and corn chips is the largest snack category with a value of $30.1bn in 2009.
* The highest growth category is the 'Other Savory' category which is set to enjoy a CAGR of 6% between 2009 and 2013. Growth within the 'Other Savory' category is being driven by growth in meat snacks and ethnic snacks.
* Self regulation and legislation are heavily impacting the snacks market, with manufacturers and governments alike committed to reducing salt and fat levels in snack food products.
* Governments have also sought to make consumer choice easier through rulings relating to food labeling. The impending Article 13 health claim regulation will require that all functional health claims made on snack products be substantiated with scientific evidence and this will impact on health positioned NPD.

Key questions answered

1. What is the size of the savory snacks market by region and category and what are the forecast growth rates to 2012.
2. Which emerging markets are projected to see the highest levels of growth to 2012.
3. How are government regulations and industry self regulation shaping savory snacks NPD and innovation.

For more information or to purchase this report, go to:
-  http://www.fastmr.com/prod/51110_innovation_in_savory_sna...

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