Top Growth Opportunities: Savory Snacks in Canada

Top Growth Opportunities

Among the top 10 savory snacks markets, Canada ranked fifth in terms of per capita expenditure (in US dollar terms) in 2016, which is smaller than the US, the UK, Japan, and New Zealand. Consequently, the per capita expenditure on savory snacks products is expected to grow at a CAGR of 3.7% during 2016-2021, providing industry players with moderate growth opportunities in future.

Canada's savory snacks market, all the categories recorded a decline in US dollar terms during 2011-2016. Potato chips, the most valuable category, is forecast to record positive growth at a CAGR of 4.8% in the next five years. Pretzels, the smallest category in terms of value, which declined by 1.2% CAGR during 2011-2016, is forecast to register the fastest growth during 2016-2021. Furthermore, nuts & seeds and ethnic/traditional snacks are forecast to record the slowest growth during 2016-2021.

The report "Top Growth Opportunities: Savory Snacks in Canada", identifies the key demographic groups driving consumption, and what motivates their consumption. When combined with an in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them. The report uses a unique method of quantifying consumer trends to highlight the degree of influence they have on consumption within the category. The report also identifies the most important trends within the market and shows whether beliefs over what influences consumer behavior within the category are accurate.

In particular, this report provides the following analysis -
- Key consumer demographic groups driving consumption within the Canadian market. The figures showcase the number of times consumers of specific ages and gender consume Savory Snacks, as well as identifying whether these demographic groups "over" consume in the category (i.e. they account for a higher proportion of occasions than the proportion of society they represent overall).

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- A study of market value and volumes over 2011-2016 for Canada, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
- The degree of influence that the 20 key consumer trends identified by GlobalData have on savory snacks consumption volumes, with granular analysis on the extent that degree of influences varies between gender and age group.
- Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
- Examples of international and Canada-specific product innovation targeting key consumer needs.

Companies mentioned in this report: Walmart, Sobeys, Metro, Safeway, Rachelle-Béry, PepsiCo, Conagra Foods, Inc, Old Dutch Foods, Inc.

- The savory snacks market in Canada declined during 2011-2016, however, it is forecast to register growth during 2016-2021.
- The increasingly busy lifestyles of the working population are resulting in an increased demand for savory snacks products in convenient and portable packaging formats that can be carried to the work place or consumed on-the-go.
- With consumers increasingly aware of the nutritional gaps they need to fill, savory snacks in Canada need to look at alternative ingredients that provide better nutrition.

Reasons to buy
- This report brings together consumer analysis and market data to provide actionable insight into the behavior of the Canada's Savory Snacks consumers.
- This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Savory Snacks sector.
- Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.

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Source: marketwatch

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