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The global snack food products market attained a value of nearly USD 1532.34 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 2.80% reaching about USD 1964.68 billion by 2032.
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Snack food products refer to light food items that are consumed in between regular meals. Types of popular snacks vary between regions but are generally ready-to-eat staples that can be savoury, sweet, frozen, baked, or fruit-based, among others. Snack food products are available in individual forms and can also be purchased in bulk.
Based on type, the market can be segmented into frozen snacks, savoury snacks, fruit snacks, confectionery snacks, and bakery snacks, among others. On the basis of distribution channels, the market is categorised into supermarkets and hypermarkets, convenience stores, specialty stores, and online, among others. The regional markets for the snack food products market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global snack food products market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
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The supermarkets and hypermarkets segment is holding substantial growth in the snack food products market share across the globe as they are a primary supplier of snack food in several high-income economies. The expanding retail infrastructure has further enhanced the number of supermarkets and hypermarkets across urban areas in various regions, driving the segment growth in the market.
Meanwhile, the online segment is expected to bolster the market growth of snack food products across the globe on account of the rising expansion of e-commerce companies. The increasing number of smartphone users and apps to place orders online is expected to aid the segment growth in the market due to the convenience they offer. Several e-commerce companies are acquiring or opening physical supermarkets to further expand their reach and market share.
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Geographically, the Asia Pacific is expected to witness rapid growth in the snack food products market on account of the rising consumption of snack foods in countries like India and China. This is due to the growing urbanisation along with high commercialisation. The evolving eating habits with changing tastes and preferences of consumers and increasing demand for convenience, flexibility, and packaged snacks are expected to boost the market growth of snack food products.
North America also occupies a sizable share of the market for snack food products due to the busy lifestyles of people in the region and the widespread availability of numerous snack options. In countries like the United States, working people often consume multiple snacks throughout the day to keep up their energy between meals.
General Mills Inc. is a leading food manufacturing company that was established in 1928. It manufactures cereal, snacks, convenient meals, dough, yogurt, baking mixes and ingredients, super-premium ice cream, and pet food. The company’s largest brands include Cheerios, Nature Valley, Old El Paso, Pillsbury, Yoplait, Betty Crocker, Haagen-Dazs, and BLUE.
PepsiCo, Inc. is a leading beverage and convenient food company across the globe with a portfolio of brands, including Doritos, Lays, Cheetos, Pepsi-Cola, Gatorade, Quaker, SodaStream, and Mountain Dew. The company has grown to become one of the leading MNC food and beverage businesses across the globe.
Nestle S.A. is a global marketer and producer of food products and beverages. Based out of Switzerland, the company has over 2,000 brands. Its product portfolio includes bottled water, baby foods, cereals, coffee, chocolates and confectionery, culinary products, dairy products, chilled and frozen foods, ice cream, pet products, and nutritional products.
Other market players include Kellogg Company, Conagra Brands, Inc., and Mondelez International, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Distribution Channels |
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Breakup by Region |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is assessed to grow at a CAGR of 2.80% between 2024 and 2032.
In 2023, the global market of snack food products attained a value of nearly USD 1532.34 billion.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach almost USD 1964.68 billion by 2032.
The major market drivers are the rapidly evolving lifestyles and dietary patterns.
The key snack food products market trends include increasing demand for ready-to-eat snacks and development of healthy and nutritious snack products.
The various types of snack food products include frozen snacks, savoury snacks, fruit snacks, confectionery snacks, and bakery snacks, among others.
The primary distribution channels for snack food products include supermarkets and hypermarkets, convenience stores, specialty stores, and online, among others.
The major players in the market are General Mills Inc., PepsiCo, Inc., Nestle S.A, Kellogg Company, Conagra Brands, Inc., and Mondelez International, among others.
Snack foods can provide energy in the middle of the day, between meals, and even while exercising.
Snack foods are normally intended to be quick, satisfying, and portable.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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