Global Crackers Market size was valued at US$ 19.66 Bn in 2019 and the total revenue is expected to grow at 4.8% through 2021 to 2027, reaching nearly US$ 28.60 Bn.
Global Crackers Market Overview:
The Global Crackers Market is expected to grow significantly over the forecast period owing to high consumption and being available in several varieties and flavors, which subsequently has increased their popularity within the global market. Since crackers are made from high nutritional ingredients, they are increasingly consumed than other snacks. Crackers are often marketed as a healthy and simplest form of staple food or cereal grain.
In 2020, the market size of crackers was valued at US $20.6 Bn., which is expected to grow at 4.8% over the forecast period 2021-2027, reaching nearly 28.60 Bn.
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Global Crackers Market Dynamics:
Owing to consumers are increasingly becoming more aware of the food ingredients and looking for better ingredients that are high-quality and healthy. In addition, there has been a prominent change in the food preference of consumers, as most of them are trading their daily meals for snacks. So, this grows the market for healthy snack foods. Therefore, the increasing consumer interest in healthy ingredients in snacks is a main key factor for growing the demand for crackers.
The market is expected to grow significantly during the forecast period, as top key players rapidly introduce new varieties of healthy crackers make huge investments in the research and development for new varieties of crackers. Cracker consumption has sharply increased all around the world. These nutritional snacks come in a variety of flavors and variations, which has grown their popularity in the global market. Crackers are increasingly preferred over other snacks for home use because they are manufactured from healthy ingredients. Crackers are a popular snack that has been placed on the menus of well-established restaurant chains. Crackers’ development prospects in the next few years appear to be quite promising when served with wine, soups, seafood, and salads. Manufacturers are also stressing the availability of crackers in a variety of tastes. This trend expected to lead to an increase in the demand for crackers in the coming years.
High competition among local players and despite innovations traditional crackers have a major share are the biggest constraints for crackers markets. The global crackers market is restricted by a lack of knowledge about the presentation and preparation of crackers, as well as their insignificant inventory presence in retail stores. Moreover, knowledge of cracker utilization is limited to niche markets in industrialized countries is one of the biggest challenges in the crackers market.
Way Better Snacks just announced the release of four new cracker flavors: Back in Black Bean and Salsa, Rosemary Me and Olive Oil, Beyond the Sea Salt and Cracked Pepper, and Mustard and Cheddar.
Global Crackers Market Segment Analysis:
Based on the Product, the global crackers market is segmented into saltine crackers, graham crackers, and sandwich crackers. The saltine segment dominates the global crackers market, owing to rising demand for light snacks. It contains low cholesterol, unsaturated fat content, and saturated fat. The global saltine crackers market was valued at around US$ xx Bn. in 2019. The Graham crackers also witness significant growth over the forecast period. Factors attributing to the growth of this segment are much-loved snacks among children and they can be used as main ingredients in making graham cracker crust. Sandwich crackers are expected to gain major market share in the global crackers market due to low cholesterol and other nutritional benefits present in them.
Global Crackers Market 1
Based on the Distribution Channel, the global crackers market is segmented into supermarkets, convenience stores, and e-commerce. Supermarkets segments dominate the global crackers market, owing to a variety of product ranges with different price ranges. The development of retail business in developed and emerging countries are some of the factors responsible for the growth of convenience stores. Online segments also attract a young population of the globe due to an increase in the number of mobile users.
Global Crackers Market 2
Global Crackers Market Regional Analysis:
North America dominates the global crackers market due to high production and awareness among the people regarding the health benefits and nutritional value offered by crackers. In 2020 the market value of crackers in the US was USD 5.6 Bn. the United States, Canada, and Mexico are the dominating regions of North America in the crackers market.
Europe is expected to remain at the second position in the coming few years. Factors attributing to the strong growth of this region are high production and consumption of crackers. Nutritional deficiency among European people is one of the reasons for the demand for crackers in this region
Asia Pacific is witnessing significant growth in the forecast period owing to the rise in disposable income of consumers and a large number of food processing industries present in the region. China, India, and Japan are the major producers of crackers in the Asia Pacific regions.
The Middle East and Africa relatively shows slow growth over the forecast period owing to low economical, industrial and agricultural developments.
Global Crackers Market 3
The objective of the report is to present a comprehensive analysis of the global crackers market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global crackers market dynamics, structure by analyzing the market segments and project the global crackers market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global crackers market make the report investor’s guide.
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Global Crackers Market 4
Global Crackers Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Crackers Market Key Players
• Key Intersnack Group
• Kellogg
• Mondelez International
• PepsiCo
• Snyder's-Lance
• Arnott's Biscuits
• Bremner Biscuit Company
• Britannia
• Colussi
• Galbusera
• Mary's Gone Crackers
• Monde M.Y. San Corporation
• Natural Nectar
• Parle
• PEPPERIDGE FARM
• RYVITA
• Snack Factory
• Stauffer
• United Biscuits
• Westminster Cracker Company
FAQ
1. What are the factors responsible for growth of global crackers market in North America?
Ans: The factors responsible for growth of global crackers market in North America are awareness about the health benefits offered by crackers and easy availability of these products through different modes
2. What are the expected growth rate and revenue of global crackers market from 2021-2027?
Ans: The total revenue is expected to grow at 4.8% through 2021 to 2027, reaching nearly US$ 28.60 Bn.
3. Why Middle East and Africa Shows slow growth rate over the forecast period?
Ans: Middle East and Africa relatively shows slow growth over the forecast period owing to low economical, industrial and agricultural developments
4. What are the major key players in the global crackers market?
Ans: The major key players in the global crackers market are Britannia, Colussi, Galbusera, Mary's Gone Crackers, Monde M.Y. San Corporation, Natural Nectar, Parle, PEPPERIDGE FARM and RYVITA.
5. What are the market segments of global crackers market?
Ans: The global crackers market is segmented on the basis of product and distribution channel.
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