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Report
Trail Mix Market - Growth, Trends, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 150 Pages I Mordor Intelligence
The Global Trail Mix Market is projected to register a CAGR of 6.71% over the next five years.
Consumers are becoming increasingly aware of the health implications of those snack products that contain artificial sugar and other unhealthy ingredients added to them. There is a change in consumer behavior as a result of the growing vegan trend and the use of organic ingredients in food and nutritional supplements due to growing concerns over animal welfare, individual health, and most importantly, sustainability. As a result, trail mix composed entirely of organic plant materials is becoming more common. Owing to this factor, consumers are indulging themselves by buying trail mixes that contain a variety of nuts, dry fruits, superfood seeds, freeze-dried fruits, and other ingredients such as soy, which provide high nutritional value to their products.
Furthermore, the change in lifestyle of people across the globe and people's inclination towards two-in-one benefit snack products that fulfill their appetites along with nutritious food has increased the demand for convenient sources of nutrition such as trail mix that can be consumed on-the-go, which will be a major factor fueling the growth of this market.
The demand for or trend in consumption of trail mixes is expected to increase, particularly in developing countries such as India, Brazil, China, and others. This can be attributed to the constantly growing number of young individuals in these regions, coupled with long work hours and busy lifestyles, which have led to a decrease in the leisure time available, which is majorly shifting the consumer consumption patterns from traditional meals to frequent healthy snacking options.
Trail Mix Market Trends
Strategic Inclination Towards Sugar Reduction Snack Food
The increase in health and weight consciousness among consumers has led to a shift in eating preferences, mostly toward healthy and nutritious food products. According to the International Diabetes Federation (IDF), in 2020, 463 million people in the world and 88 million people in the Southeast Asia region will suffer from diabetes. Due to growing public knowledge of the dangers of diabetes and other lifestyle disorders like obesity and cardiovascular diseases, consumers have been switching to a low- or no-sugar diet; thus, food companies have started health-based snacking products such as low- or no-sugar trail mixes around the globe. Moreover, these trail mixes have emerged as a healthier option because they do not contain artificial ingredients, are not overly processed, and contain negligible sugar. In addition to being chemical-free and environmentally friendly, these healthy trail mix options do not contain any preservatives or artificial coloring. Companies like PepsiCo Inc. and Coca-Cola are committed to removing artificial ingredients and reducing the sugar content in their products. Also, most of the millennial population in the United States prefers better-for-you snacks, thus increasing the demand for those trail mixes that have qualities such as low sugar addition, no flavorings, and others.
North America Dominates the Global Market
North America is expected to have the highest growth rate during the forecast period owing to the growing preference for nuts and seed snacking. The market for healthy snacks like trail mix is driven by the rising demand from consumers for low-fat and low-sugar breakfast ingredient alternatives in the area. It is anticipated that 6 out of 10 Americans suffer from chronic diseases, according to the Centers for Disease Control and Prevention (CDC). The main contributing factors to these diseases were unhealthy diets and unhealthy lifestyles. The market expansion is largely being driven by the high countrywide snack consumption rate as well as rising consumer demand for healthy snack foods. According to the Plant-Based Foods Association and the Good Food Institute, retail sales of plant-based foods in the United States have continued to rise, rising 6.2% in 2021 and reaching an all-time high of USD 7.4 billion. Thus, in order to keep up with the rising demand for all types of trail mix varieties, manufacturers are continuously introducing inventive, clean, and organic products and expanding into the North American market. For instance, Conagra brands offer trail mixes that are non-GMO, gluten-free, and free of any artificial colors, flavors, or preservatives, as per the company's claims, under its brand Angie's Boomchickapop.
Additionally, growing e-commerce offers the ease of buying from the comfort of one's home. Major players, like PepsiCo, Kellogg's, and others, are selling their products either through their own websites or through third parties, like Walmart, Carrefour, etc. Thus, online and e-commerce stores have been gradually increasing their market share, both in terms of revenue and popularity among consumers across the region.
Trail Mix Market Competitor Analysis
Some of the major key players in the global trail mix market, globally include General Mills, Inc., Mars, Incorporated, PepsiCo Inc., Kellogg Company, The J.M. Smucker Company, and Lehi Valley Trading Company, among others. Due to their vast range of trail mixes, these companies hold a sizable portion of the industry. Every region has a number of domestic competitors with strong distribution networks, therefore multinational companies aiming to increase their market share tend to buy them. Another important approach that businesses are implementing is the creation of new products, as product diversification broadens the consumer base.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Deliverables and Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Distribution Channel
5.1.1 Hypermarkets/Supermarkets
5.1.2 Convenience Stores
5.1.3 Specialty Stores
5.1.4 Online Retail Stores
5.1.5 Other Distribution Channels
5.2 Geography
5.2.1 North America
5.2.1.1 United States
5.2.1.2 Canada
5.2.1.3 Mexico
5.2.1.4 Rest of North America
5.2.2 Europe
5.2.2.1 United Kingdom
5.2.2.2 Germany
5.2.2.3 France
5.2.2.4 Russia
5.2.2.5 Italy
5.2.2.6 Spain
5.2.2.7 Rest of Europe
5.2.3 Asia Pacific
5.2.3.1 India
5.2.3.2 China
5.2.3.3 Japan
5.2.3.4 Australia
5.2.3.5 Rest of Asia-Pacific
5.2.4 South America
5.2.4.1 Brazil
5.2.4.2 Argentina
5.2.4.3 Rest of South America
5.2.5 Middle East & Africa
5.2.5.1 South Africa
5.2.5.2 Saudi Arabia
5.2.5.3 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 General Mills, Inc.
6.3.2 PepsiCo Inc.
6.3.3 Mars, Incorporated
6.3.4 Tropical Foods
6.3.5 The Kraft Heinz Company
6.3.6 Kellogg Company
6.3.7 Jerry's Nut House Inc
6.3.8 Lehi Valley Trading Company
6.3.9 Oberto Snacks Inc.
6.3.10 Creative Snacks Co.
6.3.11 The J.M. Smucker Company
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