Snack Food Market - Growth, Trends and Forecasts (2019 - 2024)

Global snack food market is segmented by Type (Salted Snacks, Bakery Snacks, Confectionery, and Specialty & Frozen Snacks), Distribution Channel ( Specialist Retailers, Internet Sales, Super Markets/ Hyper Markets, Convenience Stores, and Others), and Geography.

Market Snapshot

market summary snack food market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

Europe

CAGR (2019-2024):

5.34%

Key Players:

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Market Overview

The global market for snack food is expected to reach USD 762 billion by 2024, growing at a CAGR of 5.34%, during the forecast period, 2019-2024.

  • Snack food has emerged as an alternative to full-fledged meals with the paradigm shift in consumer behavior patterns. The higher disposable incomes, as a result of the growing urbanization and increasing preference for convenience food, have triggered the growth of the snacks industry.
  • Globally, the number of independent working women, double-income families and nuclear families are increasing. This demographic change increases the demand for convenience food by many folds. Snack food is being considered as the closest alternative to regular food, which can be consumed any time (such as, during breakfast, lunch of dinner purpose).

 

Scope of the Report

The global snack food market is segmented by type into salted snacks, bakery snacks, confectionery, specialty & frozen snacks. The bakery snacks segment possesses the highest market coverage, while the salted snacks including potato chips, corn chips, tortilla chips, popcorn, pretzels, etc. are expected to have the highest market growth during the forecast period. The snack food industry also includes confectionery items like chocolates, candies and cookies, crackers, etc. The global snack food report discusses the market revenue in terms of distribution channels such as specialty stores, independent stores, online sales, convenience stores, supermarkets and hypermarket, etc.

By Type
Salted Snacks
Bakery Snacks
Confectionery
Specialty & Frozen Snacks
By Distribution Channel
Specialist Retailers
Online Retailers
Super Markets/Hyper Markets
Convenience Stores
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
United Kingdom
Germany
France
Russia
Italy
Spain
Rest of Europe
Asia Pacific
India
China
Japan
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
Rest of MEA

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Key Market Trends

Changes in Consumer Lifestyle and Rapid urbanization

The improving consumer lifestyle, rapid urbanization, high disposable income, are increasing demand for on the go convenience foods, thereby fuelling the ready-to-eat food market growth. Changing food consumption behavior among consumers, increased willingness to spend on such food and the lack of time to cook at home are a result of the rapid urbanization. Urbanization also helps in increasing the disposable income, which increases the food expenditure of the final consumer. Currently, ready-to-eat food is the largest segment in the overall conventional and non-conventional food industry. This segment is growing at a fast pace as a result of the high consumer acceptance for such food globally. Innovative products in functional ingredients, convenience, and organic foods and advancement in areas of packaging technology are expected provide a future growth opportunity in the sector. 

TREND 1 SNACK FOOD MARKET

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Europe Holds the Major Share in Snack Food Market

Snack food products are largely consumed in the developed regions due to high commercialization and urbanization. The market is expected to growth with a high CAGR in developing countries across the globe. Europe represents the largest market for snack food products, followed by North America. The preference for healthy and nutritious snack food is expected to help maintain a steady growth in the developed markets. Asia-Pacific is poised to register the fastest growth during the forecast period, owing to the increasing demand from the developing countries of India and China. The spread of western eating habits to the developing world and growing urbanization have helped in better market penetration for the global players in the developing nations of Asia-Pacific and South America.  Among countries, the United States continues to be the largest market, accounting for one-thirds of the total. Japan and the United Kingdom together account for one-fourth of the global snack food market share.

trend 2 snackfood market

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Competitive Landscape

The competition in the global snack food market is reported to be huge mostly in the developed countries where a large number of snack food manufacturing companies are operating to serve the limited population. Some of the major keyplayers in the global snack market are Calbee Inc., ConAgra Foods Inc., Ferrero S.P.A., General Mills Inc., Nestle, The Kraft Heinz Company, and Tohato Inc., among others.

Major Players

  1. Calbee Inc.
  2. ConAgra Foods Inc
  3. Ferrero S.P.A.
  4. The Kraft Heinz Company
  5. Nestle

* Complete list of players covered available in the table of contents below

market concentration snack food market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Salted Snacks

      2. 5.1.2 Bakery Snacks

      3. 5.1.3 Confectionery

      4. 5.1.4 Specialty & Frozen Snacks

    2. 5.2 By Distribution Channel

      1. 5.2.1 Specialist Retailers

      2. 5.2.2 Online Retailers

      3. 5.2.3 Super Markets/Hyper Markets

      4. 5.2.4 Convenience Stores

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Spain

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 UAE

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 Rest of MEA

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Kellogg's Company

      2. 6.3.2 Nestle Inc.

      3. 6.3.3 ConAgra Food Inc.

      4. 6.3.4 Calbee, Inc.

      5. 6.3.5 Frito Lay's

      6. 6.3.6 PepsiCo

      7. 6.3.7 Hormel Foods

      8. 6.3.8 Sargento Foods

      9. 6.3.9 J&J Snack Foods

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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