Crackers Market Size was estimated at 62.43 (USD Billion) in 2022. The Crackers Industry is expected to grow from 64.28(USD Billion) in 2023 to 83.6 (USD Billion) by 2032. The Crackers Market CAGR (growth rate) is expected to be around 2.96% during the forecast period (2024 - 2032).
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
In recent times, the Crackers Market has witnessed significant growth, driven by increasing demand for convenient and healthy snacks. The rising popularity of ketogenic and gluten-free diets has fueled the demand for low-carb, high-protein crackers. The market is also experiencing growth in the premium segment, with consumers seeking artisanal and gourmet varieties. One of the key drivers of the crackers market is the growing health consciousness among consumers. The demand for healthier snacks has led to the development of crackers made with whole grains, fiber, and nutrient-rich ingredients. The market is also seeing an increase in the use of alternative flour such as almond flour, coconut flour, and quinoa flour. Another trend in the crackers market is the growing popularity of ethnic flavors. Consumers are becoming more adventurous in their taste preferences, leading to the introduction of crackers with flavors inspired by different cuisines around the world. The demand for gluten-free crackers is also expected to continue growing as more individuals adopt gluten-free diets.
One of the most powerful drivers that is increasing the profitability of the Crackers Market Industry is the growing demand for quick and portable snacks. With the number of working people increasing, more and more individuals are eating out or snacks while driving. In addition, the growing number of single-person households results in an increasing number of customers looking for food to eat on the go. Importantly, crackers are distinguished by their long shelf life and, as such, are a suitable choice even for emergency preparedness kits or local food banks.That is why consumers highly value this tasty and crunchy snack.
Yet another factor that contributes to the development of the Crackers Market Industry is the increasing health consciousness of people. They are looking for healthier options when it comes to snacking, i.e., products that contain fewer calories, less sugar, and fat. Thus, crackers that contain whole grains, seeds, and a range of other wholesome ingredients enjoy growing popularity these days. Besides, as more and more people opt for gluten-free and vegan diets, cracker producers have a chance to expand their customer base.
Another factor that is driving the expansion of the Crackers Market Industry is the expansion of retail and distribution channels. Several e-commerce channels are now available for crackers, including grocery stores, convenience stores, and other online retailers. This increase in the availability of crackers is making it very convenient for people to buy.
The distribution channel segment has a significant influence on the Crackers Market, and multiple channels help it grow. The modern trade segment, consisting of supermarkets, hypermarkets, and convenience stores, dominates a significant part of the market share. This is because of the organized retailing, the advantage of convenience, and an extensive range of products. In 2023, the modern trade segment held around 45% of the Crackers Market share, which was approximately USD 28.7 billion. It is expected to grow at a steady rate and reach about USD 35.9 billion by 2032.
The traditional trade segment consists of mom-and-pop stores, small local grocers, and open markets, and it performs a considerable part of the market as well, especially in countries with a sizeable informal economy. The personalization, credit feasibility, and local preference of product range benefits reach a broader range of consumers. In 2023, the traditional trade segment held a share of about 38%, which was approximately USD 24.3 billion. It is expected to grow at a moderate rate and by 2032 reach about USD 30.1 billion. E-commerce is a fast-growing market for the Crackers Market due to the increased penetration of the internet.It provides convenience and door delivery.
In addition, these platforms offer a huge variety of out-of-reach crackers, including the niche and premium segments catered to a tech-savvy target group. In 2023, e-commerce held a 17% share of the Crackers Market with a value of about USD 11 billion and is expected to grow significantly from now on and reach approximately USD 20.2 billion by 2032. The e-commerce segment will hold a significantly higher percentage of the market share in the future due to the convenience and increased popularity of online shopping.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By primary flavor, the global market for crackers is divided into three, i.e., Savory, Sweet, and Salty. In 2023, the Savory segment was at the top of the list, taking first place and holding approximately 45% of the market, or over 13 billion USD. This segment is expected to continue its relative dominance until at least 2032, growing at a CAGR of 2.5%. The Sweet segment is expected to experience the most potent growth, as the CAGR of 3.1% suggests, taking up over 19% of the market. Finally, the Salty segment is projected to outpace the other two as well, growing at a CAGR of 2.8% and comprising 35% of the market by 2032.
The growth of the Savory segment is consistent with the general trend of increased popularity of savory snacks, as well as the desire of customers to eat what is considered healthier. As the customer preference for an indulgent, sweet product grows, the Sweet segment is projected to expand. Finally, the use of Salty crackers in various culinary segments underlies its continuous expansion.
The Crackers Market revenue is expected to grow steadily in the coming years, driven by changing consumer preferences and increasing disposable income. Segmentation plays a vital role in understanding the market dynamics and identifying growth opportunities. Among various segmentation types, Packaging Type holds significant importance in shaping the market landscape. Packets hold a substantial share of the Crackers Market.
The convenience and portability of packets make them an ideal choice for on-the-go consumption. The rising number of single-serving households further contributes to the growth of this segment.The Boxes segment is projected to witness steady growth due to its ability to maintain product freshness and protect it from damage. The growing demand for premium and flavored crackers is also fueling the growth of this segment. Tins, on the other hand, offer extended shelf life and protection, making them suitable for bulk purchases and long-distance transportation. This segment is expected to grow at a moderate pace in the coming years.
The Crackers Market segmentation by occasion comprises Everyday Snacking, Party Celebrations, and Gifting. Everyday Snacking held the largest market share of 56.8% in 2023 and is projected to maintain its dominance over the forecast period. This segment is driven by the growing popularity of crackers as a convenient and portable snack option. Party Celebrations is another significant segment, accounting for 28.4% of the market in 2023. Crackers are often served as appetizers or snacks during parties and social gatherings. The Gifting segment is expected to exhibit steady growth over the forecast period, owing to the increasing trend of gifting crackers during festivals and special occasions.
The Ingredient segment plays a crucial role in driving the growth of the Crackers Market. In 2023, the Wheat segment held the largest revenue share of around 37.8%, owing to its widespread use in various cracker formulations. However, the Multigrain segment is projected to witness the fastest growth over the forecast period (2024-2032) due to increasing consumer preference for healthier snack options. Moreover, the Gluten-Free segment is gaining traction among consumers with gluten intolerance or celiac disease. This segment is anticipated to register a steady growth rate during the forecast period, catering to the specific dietary needs of consumers.The Rice and Corn segments also contribute significantly to the overall market, with each segment offering unique flavor profiles and nutritional benefits. These segments are expected to grow at a moderate pace, influenced by regional preferences and evolving consumer tastes.
The regional segmentation of the Crackers Market presents a diverse landscape with varying market dynamics and growth trajectories. North America holds a significant market share, driven by the presence of established players and a large consumer base. The region is projected to witness steady growth over the forecast period, supported by increasing demand for convenient and healthy snacking options. Europe is another key region characterized by a mature market and strong competition. The region is expected to exhibit moderate growth, influenced by changing consumer preferences and the presence of local and regional players.APAC is anticipated to be the fastest-growing region, fueled by the rising disposable income and expanding population in countries such as China and India. South America and MEA are expected to contribute a smaller share of the overall market, but they also offer growth potential due to increasing urbanization and changing lifestyles.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The majority of competitors in the Crackers Market industry continually improve their product portfolio. They aim to introduce innovative and new flavors, considering the company’s product portfolio. In particular, some of the main Crackers Market players are mostly concerned with their product portfolio. They strive to develop gluten-free and organic types of crackers for an increased number of health-conscious consumers. The Crackers Market development is influenced by the rising people’s interest in healthier types of snacks or meals. Besides grains, many new Recipe Launch Challengers and companies develop crackers made of whole grains, seeds, and nuts. Considering the changing demand of customers, the Crackers Market Competitive Landscape continually changes due to new Recipe Launches and collaborations.
Mondelez International is one of the leading players in crackers production. Being a participant in the Crackers Market industry, Mondelez International has an extensive product portfolio. Its essential products include Ritz, Triscuit, and Oreo. Moreover, it has a profound global presence. Because of its global distribution network, Mondelez International products can be found in nearly every part of the world. Finally, Mondelez International willingly intensifies its product offerings and ingredient choices. In 2021, this company produced Ritz Crisp & Thin. The crackers are thin and crispy. Furthermore, they are made of whole grains. They contain only five grams of fat, which is claimed to be less than the leader of the cracker segment of the industry.
Crackers Market Industry Developments
The Crackers Market is projected to reach USD 83.6 billion by 2032, exhibiting a CAGR of 2.96% during the forecast period. Increasing demand for packaged food products, particularly in emerging economies, is driving market growth. Crackers are a versatile snack option that can be paired with various dips and spreads, contributing to their popularity. Technological advancements in packaging and processing techniques are also supporting market expansion. Key players are focusing on product innovation, such as introducing healthier and gluten-free cracker variants, to cater to evolving consumer preferences. Strategic partnerships and acquisitions are expected to shape the competitive landscape in the coming years.
| Report Attribute/Metric | Details |
| Market Size 2022 | 62.43(USD Billion) |
| Market Size 2023 | 64.28(USD Billion) |
| Market Size 2032 | 83.6(USD Billion) |
| Compound Annual Growth Rate (CAGR) | 2.96% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Grupo Bimbo, Campbell Soup Company, PepsiCo, Pladis, Lotus Bakeries, Unilever, Kraft Heinz, Biscuit International, Arnott's Biscuits, Nestle, General Mills, Mondelez International, Parle Products, Kellogg's, ITC Limited |
| Segments Covered | Distribution Channel, Flavor, Packaging Type, Occasion, Ingredient, Regional |
| Key Market Opportunities | Health-conscious snacking options Expansion into emerging markets Premiumization and flavor innovation E-commerce and online distribution Sustainability and eco-friendly packaging |
| Key Market Dynamics | Growing Demand for Healthier Options Increasing Disposable Income Changing Consumer Preferences Rise of E-commerce Innovative Product Launches |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Crackers Market is expected to reach a valuation of USD 64.28 Billion in 2023.
The Crackers Market is projected to reach a valuation of USD 83.6 Billion by 2032.
The Crackers Market is expected to grow at a CAGR of 2.96% from 2024 to 2032.
North America is expected to hold the largest market share in the Crackers Market.
The savory snacks segment is expected to dominate the Crackers Market.
Some of the key competitors in the Crackers Market include Mondelez International, PepsiCo, Kellogg's, United Biscuits, and Arnotts.
The key growth factors driving the Crackers Market include rising disposable income, increasing consumer demand for convenience foods, and the growing popularity of online grocery shopping.
The key challenges facing the Crackers Market include fluctuating raw material prices, intense competition, and changing consumer preferences.
The key trends expected to shape the future of the Crackers Market include the growing demand for healthier snacks, the increasing popularity of plant-based crackers, and the rising demand for innovative flavors.
COVID-19 had a significant impact on the Crackers Market, leading to a decline in demand due to lockdowns and disruptions in the supply chain. However, the market is expected to recover in the coming years.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Assistant Manager - Research High acumen in analyzing complex macro & micro markets with more than 6 years of work experience in the field of market research. by implementing her analytical skills in forecasting and estimation into market research reports, she has expertise in packaging, construction, and equipment domains. she handles a team size of 20-25 resources and ensures smooth running of the projects, associated marketing activities, and client servicing.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
