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Crackers Market - Drivers and Forecasts by Technavio
[August 11, 2017]

Crackers Market - Drivers and Forecasts by Technavio

Technavio analysts forecast the global crackers market to grow at a CAGR of over 10% during the forecast period, according to their latest report.

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Technavio has published a new report on the global crackers market from 2017-2021. (Graphic: Busines ...

Technavio has published a new report on the global crackers market from 2017-2021. (Graphic: Business Wire)

The research study covers the present scenario and growth prospects of the global crackers market for 2017-2021. Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The growth is expected to be primarily because of the increase in demand for healthy snacks. With its rising popularity, an increasing number of consumers in most of the developed and developing countries are purchasing crackers. However, the growth of the market will be affected by the multiple product recalls that has the potential to hamper the brand image and the consumer trust. In addition to this, stiff competition from competitive products like savory snacks and other biscuits will also impede the market growth.

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Technavio analysts highlight the following three factors that are contributing to the growth of the global crackers market:

  • Demand for healthy snacks
  • Increasing purchase by household customers
  • Omni-channel retailing

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Demand for healthy snacks

Consumers are increasingly becoming more aware of the food ingredients and look for better-for-you ingredients that are of high-quality. Apart from this, there has been a notable change in the food preference of consumers, as most of them are trading their routine meals for snacks. So, this increases the demand for healthy snack foods. Therefore, the increasing consumer interest in healthy ingredients in snacks is the key factor driving the demand for crackers.

Manjunath Jagannath, a lead food research analyst at Technavio, says, "High-protein, legumes, vegetables, whole grains, and others are becoming popular as the key elements in crackers. Crackers are marketed as biscuits made from healthy ingredients. Most of the consumers consider crackers as healthy snacks, as it has lesser calories than others. Apart from traditional saltine crackers, many vendors have launched various healthful crackers to meet the demands of health-conscious consumers."

Increasing purchase by household customers

The demand for crackers is rising in every household. Along with healthy crackers, the demand for traditional saltine crackers is also high. Consumers are looking for a wide range of options from traditional to health-focused. Thus, the changing taste preferences in crackers is growing as consumers wish to try and constantly look for different flavors and products.

"Crackers are available in the market in many flavors and varieties, such as butter crackers, matzoh crackers, cheese crackers, breadsticks, water crackers, goldfish crackers, graham crackers, and others. Each of these varieties of crackers has different flavor, taste, and uses. To meet the demand for crackers, a wide range of options and varieties are available in the market," adds Manjunath.

Omni-channel retailing

Omnichannel retailing is a cross-channel sales model. This type of retailing uses a combination of different distribution channels to increase customer engagement. Crackers are available in almost all retail channels easily. With the rise in demand for crackers, there has been growth in the different cracker markets across the globe. Crackers are available not just in retail (brick and mortar) stores but also on different e-commerce websites.

With the rise in internet penetration rate, e-commerce business is booming. These platforms also offer a wide range of crackers. E-commerce websites like Walmart, Amazon, Alibaba, and others offer crackers. Crackers of many brands and private-label brands are available on these portals. Thus, product variety available at these platforms is much more than brick and mortar stores (retail outlets).

Top vendors:

  • Intersnack Group
  • Kellogg
  • Mondelez International
  • PepsiCo
  • Snyder's-Lance

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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