Opportunities in the Snack Food Industry

  From the March 7, 2016 issue of Agri-News
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 The snack food market in Canada generates approximately 13 billion dollars annually in sales according to a recent study by Nielsen Market Research Company and Jeewani Fernando, provincial consumer market analyst with Alberta Agriculture and Forestry says that presents a big opportunity for Alberta food manufacturers and suppliers.

“Snacks are more than tasty treats, they’re big business. Two years ago, traditional snack food sales in Canada from major retail channels were estimated at 5 billion dollars but when we expand the definition of snacks to include the mini-meals we consume that figure balloons to nearly 13 billion dollars,” she says.

Despite this huge market size, consumers are demanding more from their snacks including healthy alternatives, affordability, portability and accessibility.

“We found that Canadian consumers are specifically attracted to convenience of nutritious and portable snacks which are also tasty,” Fernando says.

The snack food industry in Canada is primarily served by domestic manufacturers though imports are increasing in the market.

“This is not good for our manufacturers. Also, as the exchange rate is driving the price of snack food up it will be felt by consumers. We feel there is an opportunity here for local manufacturers to get into the market,” she says.

For more information and details on snack food trends in Canada and opportunities for local manufacturers and suppliers check out Fernando’s article, Snacking and Mini-meal Trends in Canada.

Jeewani Fernando, Alberta Agriculture and Forestry

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For more information about the content of this document, contact Jeewani Fernando.
This information published to the web on February 29, 2016.