Increasing incidence of obesity and other health disorders impelled by insalubrious diet and change in the lifestyle of the population has become a global concern. According to the World Health Organization, approximately 650 million adults were obese in 2018 worldwide. With less fat and sugar contents compared to other snack items with high-fat ingredients available, crackers are the eminent snack item for the people with obesity disorder. Increasing preference of the customers towards replacing their routine meals with snacks and the rise in the demand for snack items with low fiber content and nutritious, high-quality ingredients are the key factors multiplying the crackers market revenue. Surging demand for low calorie and high protein-rich snack items, which helps to maintain a healthy weight have augmented the crackers market growth. The global crackers market size was valued at $125.7 billion as of 2018 and is anticipated to grow with a CAGR of 4.5% throughout the forecast period 2019-2025.
Crackers are offered as snacks and served alongside wine, sea-foods, soups, and salads in many restaurants. Graham crackers and water biscuits are major types of crackers in the market. The growing demand for healthy snacks due to changing consumer taste and preference is one of the primary factors for higher uptake. Leading vendors are continuing to launch more variants of healthy crackers, which, in turn, lead the growth of the crackers market in the upcoming years. Additionally, manufacturers are also focusing on offering crackers in different flavors. For instance, Way Better Snacks recently introduced crackers in four different flavors such as Back in Black Bean and Salsa, Beyond the Sea Salt and Cracked Pepper, Rosemary Me and Olive Oil, and Mustard and Cheddar Way Better. Consumers are mostly attracted to snack foods which are processed from healthy ingredients such as vegetables, legumes, whole and ancient grains, and high protein content foods. The growing awareness of consumers towards their health and wellness is a major factor giving impetus to the global crackers market demand.
Factors Driving the Crackers Market
A Rise in Demand for Healthy Snacks
Nowadays, consumers are increasingly becoming more aware of the ingredients in the food items and look for products with better nutritional value. Additionally, there has been a notable change in the food preference of consumers, as most of them are swapping their routine meals for snacks. Therefore, the growing customer interest in healthy ingredients in snacks is the key factor driving crackers market growth. Crackers are also available as biscuits in the market which are made from healthy ingredients.
Omni-channel retailing is a cross-channel sales model, and it uses a combination of different distribution networks to increase customer engagement. A wide variety of crackers are available in almost all retail outlets. With the rise in demand for crackers, there has been growth in the different crackers market worldwide. Crackers are not only available in retail stores but also on diverse e-commerce portals. A rise in internet penetration rate is the factor which is influencing the e-commerce business. Many brands of crackers are available on e-commerce websites like Walmart, Amazon, and Alibaba. Thus, several varieties of crackers are available at these platforms when compared to retail outlets.
Increasing Purchase by Household Customers
The demand for crackers as snack item is rising in every household. Consumers are looking for a wide range of options, from traditional to health-focused food items. Thus, the changing taste preferences in crackers is growing as consumers wish to try and constantly look for different flavors. These healthy snack items are offered in different flavors and varieties, which subsequently has fueled their popularity in the global market. Since crackers are made from protein-rich healthy ingredients, they are increasingly chosen over other snacks for household consumption.
North America Holding Major Share of the Crackers Market
North America generated 29% of the crackers market global revenue in 2018. The growth of the well-organized retail sector is the major factor stimulating this market share in the North America region. Growing awareness among consumers towards high-end and sugar-free crackers and a rapid rise in supermarkets and hypermarkets culture in this region are driving the growth of the crackers market. Owing to the factors such as increasing population, incremented disposal personnel incomes, and evolving food preferences are impelling the growth of this market.
Saltine crackers segment will be creating the most lucrative opportunities for the crackers market. This application segment is projected to grow at a CAGR of 5.3% through to 2025. Saltine crackers are also known as soda crackers, normally eaten as a light snack item are thin in texture, usually available in square form. These crackers are made of white flour, baking soda, and yeast and have a low amount of unsaturated fats, cholesterol, and a nearly negligible amount of saturated fats. There is a very low content of dietary fats in saltines, which in turn, trigger the market revenue for crackers. Saltines are also used as a home remedy by many people to settle an upset stomach and to ease nausea condition.
The Major Players in the Crackers Market:
The prominent players in the adhesive tapes market include Bremner Biscuit Company, Captain's Wafers, M.Y.San, Mondelez International, Natures Pear, Nestle, and Kellogg's.
Mondelez International, Inc., an American-based confectionery, food, and beverage company announced its acquisition with Tate’s Bake Shop, an American-based specialty bakeshop, on June 07, 2018. With this acquisition, Tate’s on-trend products expand Mondelez’s existing biscuit product line and complement the growth of premium cookie segment. Usage of authentic and high-quality ingredients in snacks items will stimulate its market growth in the global scenario.
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