Global Snack Food Market Overview And Prospects – Includes Snack Food Market Trends
Learn about the global snack food market through The Business Research Company, which provides information on snack food market size, snack food market drivers and restraints, snack food market players, the COVID-19 impact on the snack food market, and more.
The global snack food market size is expected to grow from $215.64 billion in 2021 to $237.42 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The global snack foods market size is expected to grow to $334.58 billion in 2026 at a CAGR of 9%.
Higher profit margins will enable snack food manufacturing companies to increase their productivity and drive the market going forward.
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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, frying, 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.
Global Snack Food Market Segments Include:
By Type: Extruded Snacks, Non-Extruded Snacks
By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others
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 was the largest region in the snack food market in 2021.
Snack food manufacturing companies are adopting robotics and automation technology to maximize production efficiency. Robotic systems automate batching, conveying, processing, storage, and packaging of savoury 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. Plants with fixed automation systems increase yields by at least 2-3% over manual labor.
Major Market Players: PepsiCo Inc., Conagra Brands Inc., General Mills, McCain Foods Limited, Calbee Inc., The Campbell Soup Company, Kellogg Co, The Kraft Heinz Company, Want Want China Holdings Ltd and TreeHouse Foods.
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 (2016-21) and ten years forecast (2022-2026-2031)
The Snack Food Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 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, leading competitor revenues, profiles and market shares.
TBRC’s 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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