Global Snacks Market Growth Predicted to Reach $220 Billion
The snack foods market is globally predicted to grow exponentially over the next six years – to reach $220 billion by 2025. The predictions came from the 2018 Assessment of Snack Foods Market Report and were based on research conducted by The Association for Packaging and Processing Technologies.
The report concluded the primary driving-force behind growth is increasing changes in consumer lifestyles, which encourages increased snacking, yet promotes greater competition in the healthy snacking sector. It is expected that organic food snacks will increase primarily and significantly over the forecasting timeline. This is particularly prevalent in the younger generations – on the increase in regions like the Asia-Pacific, where the largest growth prediction is expected.
Changes in packaging trends and machinery
Also (in the main) the younger generations are predicted to drive packaging trends towards more eco-friendly modelling. This includes not only materials used, but also in energy efficiency. The latest product packaging machines operate much more efficiently than their traditional peers, using innovations like digital printing, multi-size switching options and automated processes, which open up greater scope for reducing costs, materials and energy consumption.
Today’s increasing expectations in consistency and branding is also driving businesses to invest in better packaging processes and machinery. Automation on the production and packaging lines helps companies optimise resources, which can lead to strengthened quality control and the removal or reduction of manual reliance in packaging processes delivers on the all-important consistency.
Enhancing health and safety
The increase of regulatory control of the snacks market will also affect the way companies operate, and it is expected that snack foods businesses will invest in foreign object detection technology. This is predicted to begin in the US, as the FDA’s Food Safety Modernization Act (FSMA) drove changes in the regulatory responsibility, moving the focus from response to contamination to prevention of it.
Enhancing health and safety objectives and solutions is a core value in the snack food global market. With widespread competition, across not only product manufacture, but packaging design, efficiency, effectivity and compliance, businesses in the snack food industry are predicted to make initial investments in new machinery and technology to ensure growth over the long term.
Talk to Jacob White about streamlining and modernising your packaging processes with innovative, uniquely tailored packaging machines to strengthen your place in the growing snacks market. Get in touch via our contact form or call (0044) (0)1322 272 531 today.