Crackers Market – Drivers and Forecasts by Technavio

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

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
  • Mondelēz International
  • PepsiCo
  • Snyder’s-Lance

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