Europe Snacks Food Market Size
|Study Period:||2018 - 2028|
*Disclaimer: Major Players sorted in no particular order
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Europe Snacks Food Market Analysis
Europe snacks food market is projected to register a CAGR of 4.12 % during the forecast period, 2022-2027.
Snack food has emerged as an alternative to full-fledged meals and the snack food market in European countries has been growing owing to its convenience and quick source of nutrition and energy. Due to the widespread coronavirus, European consumers have started opting for healthy snacks option to further decrease the risk of certain lifestyle-related chronic health issues. For instance, in February 2021, Welch’s brand declared the launch of Juicefuls Fruit Snacks, the latest addition to the company's fruit snacks product range. This product is made with real fruit on the outside and juice inside available in three variations, Mixed Fruit, Berry Blast, and Island Splash with no added preservatives. Consumers are opting for a snack option that suits their dietary preferences, such as gluten-free, lactose-free, fat-free, kosher-certified, and vegan certified.
Additionally, the increasing demand for on-the-go snacks, combined with the rising purchasing power of customers, is expected to have a huge growth in the market studied. In Europe, the United Kingdom consumers majorly focused on convenience in combination with health snacks owing to its nutritional value thus, the demand for fresh raspberry peeler, snacks bar and blackcurrant peelers, among others are high in demand. Further, the key drivers augmenting the market are rising number of working people led to higher consumption of flatbread pizza with herbs and sausages, chicken sausage supreme, chicken cheese ball, french fries, and meat snacks like jerky, sticks, among others. Hence, the above-mentioned factors are actively accelerating the growth of the market studied and is expected to gain momentum during the forecast period.
Europe Snacks Food Industry Segmentation
Snack food can be described as a small portion of food that is consumed between heavy meals. There are different variety of snacks food that are helpful when consumed as it supports body weight management and enhances blood glucose control. Europe snacks food market (henceforth referred to as the market studied) is segmented by type, distribution channel, and geography. By type, the market is segmented into frozen snacks, savory snacks, frozen snacks, confectionery snacks, bakery snacks, and other types. Based on the distribution channel, the market studied is segmented into supermarkets/hypermarkets, convenience stores, online stores, and other distribution channels. It provides an analysis of emerging and established economies in Europe comprising Spain, the United Kingdom, Germany, France, Italy, Russia, and the Rest of Europe. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
Europe Snacks Food Market Trends
This section covers the major market trends shaping the Europe Snacks Food Market according to our research experts:
Inclination Towards On-the-Go Nutritional Snacking Option
The rising popularity of ready-to-eat snack food products and on-the-go snacks and snack bars are major factors augmenting the growth of the snack food market in Europe. The trend of on-the-go snacking is exploding, especially among young consumers, people living in hostels, and bachelors who lead hectic lifestyles. Furthermore, snacking while on the road is closely related to how simple it is to handle and consume snack bars. The United Kingdom prioritizes convenience and health benefits more than any other country, even though Germany has the largest market for natural and organic snacks. In 2021, sales of cereal bars in Germany climbed by 6% to a total of 139 million euros, according to data released publicly by the EU's Ministry of Foreign Affairs. Due to the increased market penetration of such products, a sizeable segment of the population has now access to convenient on-the-go snacking options, which leads to an increase in the demand for snack bars. For instance, in March 2022, CLIF added CLIF Thins to its lineup of snacks, this product is more crunchy and crispy in taste than the original CLIF BAR, which makes it ideal for consumers who like to have snacks while on the go.
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Rising Demand for "Free-From" Snacks Food Products
Growing concerns about harmful additives in food products have led consumers to focus on clean labeled snack products as they become more aware of the negative health effects associated with the various synthetic food ingredients that are used in making snack food products by not complying with the government standards. Additionally, the concept of "free-from" products is likely to boost the market for snacks, allowing people with intolerance to gluten, soy, or other similar ingredients to eat without worrying. According to information released by the Ministry of Agriculture, Food, and Environment, 19.1% of gluten-free dairy products and 16.7% of gluten-free meat products will be consumed in Spain in 2021, respectively. Further, increased consumer demand for nutritious products and the rising clean-label claims on products accelerated the market growth in the region. Product launches with various label claims, such as “no artificial additive,” “non-GMO,” and “reduced sugar” have been silently benefitting the customers over years. For instance, in January 2022, Gosh! a plant-based food brand launched ready-to-eat, healthy snack bites in the United Kingdom and Ireland Aldi stores owing to the huge demand for plant-based organic snack foods in the region.
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Europe Snacks Food Industry Overview
Europe’s snack food market is highly competitive owing to the presence of multiple regional and multinational companies offering a wide range of healthy and nutritional products, a variety of fresh real fruit juice, and other meat-based snack products. The major players operating the snacks food market in Europe are PepsiCo Inc., Nestle SA, The Kellogg Company, General Mills Inc., and Mondelez International, among others. The key players in the market are trying to maintain their leadership position in the market by embarking on business strategies including product innovations, partnerships, strengthening their hold over online and offline marketing, and mergers & acquisitions to expand their visibility and portfolio of offerings, thus, augmenting the growth of the market. For instance, in 2021, General Mills Inc., has expanded its protein and Crunchy product lines by launching Nature Valley Protein Crunch Bars with 10 grams of protein in the market.
Europe Snacks Food Market Leaders
The Kellogg Company
General Mills, Inc.
*Disclaimer: Major Players sorted in no particular order
Europe Snacks Food Market News
- In June 2022, Totino’s partnered with FaZe Clan to launch a new pizza roll Buffalo Chicken. The new snack is a new iteration of the longstanding partnership between FaZe Clan and Totino's Pizza Rolls.
- In April 2022, Nestle’s brand DiGiorno launched the latest stuffed pizza bites snack which is its flagship pizza with loaded cheese.
- In December 2021, Strong Roots, a plant-based frozen food company, and McCain Foods announced a strategic partnership, with McCain Foods investing USD 55 million in Strong Roots to take a minority stake in the business.
Europe Snacks Food Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
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 Force 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 By Type
5.1.1 Frozen Snacks
5.1.2 Savory Snacks
5.1.3 Fruit Snacks
5.1.4 Confectionery Snacks
5.1.5 Bakery Snack
5.1.6 Other Types
5.2 By Distribution Channel
5.2.2 Convenience Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 PepsiCo INC.
6.3.2 Nestle SA
6.3.3 The Kellogg Company
6.3.4 General Mills Inc.
6.3.5 Mondelez International
6.3.6 Clif Bar & Company?
6.3.7 Associated British Foods PLC?
6.3.8 Conagra Brands Inc.
6.3.9 Unilever PLC
6.3.10 Nomad Foods
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Europe Snacks Food Market Research FAQs
What is the study period of this market?
The Europe Snacks Food Market is studied from 2018 - 2028.
What is the growth rate of Europe Snacks Food Market ?
The Europe Snacks Food Market is growing at a CAGR of 4.12% over the next 5 years.
Who are the key players in Europe Snacks Food Market ?
PepsiCo INC., Nestle SA, The Kellogg Company, Mondelez International, General Mills, Inc. are the major companies operating in Europe Snacks Food Market .
Europe Snacks Food Industry Report
Statistics for the 2023 Europe Snacks Food market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Snacks Food analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.