Innovations, Changing Lifestyles To Propel Snack Market

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Dublin — The global sweet and savory snack market, which is anticipated to grow more than 6 percent by 2024, will be driven by product innovations, changing consumer lifestyles and increasing eating occasions for snacks, according to Researchandmarkets.com.

Sector sales are expected to reach $219.6 billion during the forecast period, according to the research company, which notes worldwide preferences for organics, and in turn organic snacks, will augment the market.

An aging European population has resulted in sluggish growth for sweet and savory snacks in the region, while in Asia-Pacific markets the converse is true as significant increases in youth populations and growing disposable incomes will energize the market during the coming six years, according to Researchandmarkets.com As a result, the Asia-Pacific region is projected to have the highest compounded annual growth rate during the forecast period.