Global Snack Food Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Snack Food Market Report by The Business Research Company covers snack food market drivers and restraints, snack food market size, major players, and the impact of COVID-19 on the snack food market.
The snack food market consists of sales of snack foods by entities (organizations, sole traders and partnerships) that produce snack foods. The companies in the snack food industry are primarily engaged in salting, roasting, drying, cooking or canning nuts; processing grains or seeds into snacks; manufacturing peanut butter; or manufacturing potato chips, corn chips, popped popcorn, hard pretzels, pork rinds and similar snacks. The companies package and distribute their products through various distribution channels to both individual customers and commercial establishments. The snack food market is segmented into potato chips; popcorn; processed snacks and other snack food.
Many countries across the globe are experiencing falling prices of crops due to overcapacity; this is expected result in low raw material costs for food and beverage companies.
The global snack food market is expected to grow from $213.63 billion in 2020 to $230.27 billion in 2021 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $307.75 billion in 2025 at a CAGR of 8%.
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Some snack food market trends include snack food manufacturing companies adopting robotics and automation technology to maximize production efficiency. Robotic systems automate batching, conveying, processing, storage and packaging of savory snack products thus decreasing production cycle time and increasing output. Automation enables snack processing companies to improve plant conditions, reduce contamination, minimal human interaction thus making processing safer for workers as well as consumers. Collaborative robots or semi-autonomous robots are used in various automation processes, including packaging.
Global snack food market segments include:
1) By Type: Potato Chips, Popcorn, Processed Snacks.
2) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others.
3) By Type: Extruded Snacks, Non-Extruded Snacks.
4) By Flavour: Salty, Tangy, Spicy, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest global snack food market share.
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The Snack Food Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides snack food market overviews, analyzes and forecasts market size, share, snack food market players, snack food market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The snack food market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Snack Food Global Market Report 2021: COVID-19 Impact and Recovery to 2030 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries.
Market Players Covered: Calbee Inc., ConAgra Foods Inc., Ferrero S.P.A., General Mills Inc., Nestle.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing And Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Snack Food Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Snack Food Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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