Global Snack Food Market - Growth, Trends, and Forecasts 2017 - 2022

  • ID: 4387613
  • Report
  • Region: Global
  • 170 pages
  • Mordor Intelligence
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Market Insights

The introduction of new products with a focus on functional ingredients has been observed as the major trend in the snack food market in the last five years. As major product launches, Mediterranean Snacks ® launched BeanStalks, Boulder Canyon Foods launched Protein Crisps, and General Mills launched Gluten-Free Snack Bars. Given the major breakthroughs in terms of product innovations and assortment, the global market for snack food is expected to reach USD 620 billion by 2021, growing at a CAGR of 5.8%.

Market Dynamics

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. The rising health consciousness among consumers and government regulations regarding procurement of raw materials like vegetables, meat, etc. are restraining the growth of snack food consumption to some extent. Innovative product offerings with regards to functional ingredients and organic foods may provide a future growth opportunity in the sector.

Market Segmentation

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 report discusses the market revenue in terms of distribution channels such as specialty stores, independent stores, online sales, convenience stores, supermarkets and hypermarket, etc.

Regional Analysis

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-fourths of the global market share.

Competitive Environment

The competition in the global snack food market is reported to be huge mostly in the developed world where a large number of snack food manufacturing companies are operating to serve the limited population. The growth opportunity in the growing region of Asia-Pacific is catered by a majority of the big house players. The booming retail sector, increasing penetration of international brands and distinctive distribution channels adopted by players are expected to help the market grow at a continuous pace. Product launches and mergers & acquisitions with smaller level players have been the proven strategies for market growth here. Kelloggs entered the global snack food market with the purchase of Pringles. The world leader General Mills took over Annie in 2014 to diversify its product offerings into the natural and organic sector.

Some of the major global players operating in the industry are:

Key Deliverables:

Market analysis for the snack food market, with region-specific assessments and competition analysis on the global and regional scale.

Market definition along with the identification of key drivers and restraints.

Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.

Extensively researched competitive landscape section with profiles of major companies along with their market share.

Identification and analysis of the macro and micro factors that affect the snack food market on both global and regional scale.

A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.

A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.

Insights on the major countries/regions where this industry is growing and to also identify the regions that are still untapped.

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1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
2. Research Approach & Methodology
2.1 Introduction
2.2 Research Designs
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modeling
2.4.4 Expert Validation
3. Market Overview
3.1 Drivers
3.1.1 Changing Consumer Lifestyle
3.1.2 Demand for Convenience
3.1.3 Urbanization Spurring Market Growth
3.2 Constraints
3.2.1 Increasing Incidents of Obesity
3.2.2 Government Regulations
3.3 Opportunities
3.3.1 Growing Demand in Developing Regions
3.3.2 Innovative Product Offerings
3.4 Porter Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
4. Market Segmentation
4.1 By Type
4.1.1 Salted Snacks
4.1.2 Bakery Snacks
4.1.3 Confectionery
4.1.4 Specialty & Frozen Snacks
4.2 By Distribution Channel
4.2.1 Specialist Retailers
4.2.2 Internet Sales
4.2.3 Super Markets/ Hyper Markets
4.2.4 Convenience Stores
4.2.5 Others
4.3 By Geography
4.3.1 North America U.S. Canada Mexico Others
4.3.2 Europe Germany U.K. France Spain Italy Russia Others
4.3.3 Asia-Pacific China Japan India Australia Others
4.3.4 South America Brazil Argentina Others
4.3.5 Africa South Africa Others
5. Competitive Landscape
6. Company Profiles
6.1 Kellogg Company
6.2 Nestle Inc.
6.3 ConAgra Food Inc.
6.4 Calbee, Inc.
6.5 Frito Lay
6.6 Cadbury Schweppes PLC
6.7 Ferrero Group
6.8 Hershey Foods
6.9 Mars
6.10 Mondelez
6.11 Lindt and Sprüngli
6.12 Meridian Foods
6.13 Wolfgang
6.14 Boulder Canyon Foods
6.15 G.H. Cretors
6.16 Bare Snacks
6.17 PepsiCo
6.18 Hormel Foods
6.19 SK Food International
6.20 Tropical Foods
6.21 Inventure Foods
6.22 Sargento Foods
6.23 J&J Snack Foods
6.24 KIND
6.25 Dream Pretzels
6.26 Metro Snacks
6.27 General Mills Inc. (US)
6.28 Grupo Bimbo, S.A.B. de C.V. (Mexico)
6.29 Cadbury (UK)
6.30 Oberto Sausage Company (US)
6.31 Tohato Inc. (Japan)
6.32 The Kraft Heinz Company
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Note: Product cover images may vary from those shown