Nestle and Unilever lead the market owing to vast distribution network and ability to spend heavily on advertising. High potential is exhibited by the low fat and probiotic ice-creams. Yoghurt and natural flavored ice-creams find large traction.
Pet food for dog is the major segment with a share of around 29% of the total market, followed by cat segment
RTD coffee drinks are predominantly consumed from the coffee chain outlets, as consumers prefer the froth on such drinks which is not possible in packaged RTD coffee.
North America sauces, dressings & condiments market is estimated to surpass $37.7 billion by 2023 growing at a CAGR of more than 4.9% during 2018 to 2023.
Asia Pacific pet food market is projected to grow at a CAGR of 2% over the forecast period 2016-2021. Customers in Asia Pacific are shifting to pet humanization from pet ownership and are spending more on high quality and premium food. By 2020 dog food is estimated to grow tremendously at a CAGR of 7% due to high disposable income.
In emerging economies of APAC domestic companies are leading the markets with strong presence in traditional snacks category. The snacks market is forecast to grow at a CAGR of 5.2% in the coming five years.
Red Bull is the market leader in U.S. market with share of more than 40% due to its huge customer base
Change in the consumption pattern and income levels of consumers results in dynamic growth of soup market in APAC region. Dried and Canned soups categories are gaining popularity in the region, especially India and China owing to higher demand for ready to consume products.
The North America sweet & salty snacks market size was between $74 billion to $75.5 billion in 2018, and the market demand is projected to grow at a CAGR of 2% to 3% during the forecast period of 2019 to 2025.
Growing number of health and fitness centers combined with growing urbanization are some of the key drivers for the sports and energy drinks in APAC market. Sales of Sports drinks are poised to be affected by the shift of consumers towards functional bottled water.