One of the key factors pushing the growth of the market includes transition in the lifestyle of the consumers in terms of feeding habits. Over the years, the feeding habits of the consumer have witnessed a significant change, where it has evolved to the consumption of processed foods in heightened quantities. The consumers, especially the young population have become more inclined towards the consumption of processed food and ultra-processed food. Their consumption patterns are mostly influenced by the western culture. Further, the busy lifestyle of the consumers, especially for the young population have resulted in time constraint issues, where they have minimal time to consumed proper cooked food. Due to this factor, the resort to the consumption of ready to eat/processed foods for efficient time management. This trend has increased significantly over the past few years, especially in the developing countries on account of increased employment opportunities, resulting in increasing purchasing power of the consumers.
Ultra processed breads and cereals constitute an approximate of 12% of the daily food consumption per capita, while ice creams, cakes and other sweets constitute of a similar percentage. Soda and fruit drinks comprise of approximately 7% while frozen packaged meals account for approximately 4%. On an average, ultra-processed foods and processed foods account for approximately 67% of the daily food consumption per capita. Improvement in manufacturing techniques is yet another major factor driving the demand for the snack pellets market at the global level.
However, high content of acrylamide in processed foods is a major factor hindering the growth o the market at present. Acrylamide is a chemical compound with chemical formula C3H5NO and it is an odorless crystalline solid that is soluble in water, ether, chloroform and ethanol. Human exposure to acrylamide can come in several ways, consumption of processed foods being one of the major causes. Exposure to acrylamide has potential harmful effects such as drowsiness, disturbance, memory loss, numbness of lower limbs, vibratory loss and various others.
Further, high sugar content and high fructose corn syrup content, trans fats and processed vegetable oil, inclusion of artificial ingredients, refined carbohydrates are some of the major negative traits of processed foods. Additionally, they are low in nutrient content and fiber as well. Such factors have created a negative impact on the demand for processed foods among the health conscious consumers in the developing countries such as U.S, U.K., Germany and France among others. Health issues such as obesity have led the consumers to drift away from the consumption of such foods, thus barring the growth of the processed foods market, which in turn is barring the growth of the snack pellets market as well.
Product innovations, expansion in untapped markets and potential future investments are some areas of growth for this market in the future.
This post was originally published on The Market Plan