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

  • ID: 4828290
  • Report
  • 100 pages
  • Mordor Intelligence
until Dec 31st 2019
1 of 4


  • Calbee, Inc.
  • ConAgra Food Inc.
  • Frito Lay's
  • Hormel Foods
  • J&J Snack Foods
  • Kellogg's Company
  • MORE
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.

    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.

    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.

    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.
    Note: Product cover images may vary from those shown
    2 of 4


    • Calbee, Inc.
    • ConAgra Food Inc.
    • Frito Lay's
    • Hormel Foods
    • J&J Snack Foods
    • Kellogg's Company
    • MORE
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study


    3.1 Market Overview

    4.1 Market Drivers
    4.2 Market Restraints
    4.3 Porter's Five Analysis
    4.3.1 Threat of New Entrants
    4.3.2 Bargaining Power of Buyers/Consumers
    4.3.3 Bargaining Power of Suppliers
    4.3.4 Threat of Substitute Products
    4.3.5 Intensity of Competitive Rivalry

    5.1 By Type
    5.1.1 Salted Snacks
    5.1.2 Bakery Snacks
    5.1.3 Confectionery
    5.1.4 Specialty & Frozen Snacks
    5.2 By Distribution Channel
    5.2.1 Specialist Retailers
    5.2.2 Online Retailers
    5.2.3 Super Markets/Hyper Markets
    5.2.4 Convenience Stores
    5.2.5 Others
    5.3 Geography
    5.3.1 North America United States Canada Mexico Rest of North America
    5.3.2 Europe United Kingdom Germany France Russia Italy Spain Rest of Europe
    5.3.3 Asia Pacific India China Japan Australia Rest of Asia-Pacific
    5.3.4 South America Brazil Argentina Rest of South America
    5.3.5 Middle East & Africa UAE Saudi Arabia Rest of MEA

    6.1 Most Adopted Strategies
    6.2 Market Share Analysis
    6.3 Company Profiles
    6.3.1 Kellogg's Company
    6.3.2 Nestle Inc.
    6.3.3 ConAgra Food Inc.
    6.3.4 Calbee, Inc.
    6.3.5 Frito Lay's
    6.3.6 PepsiCo
    6.3.7 Hormel Foods
    6.3.8 Sargento Foods
    6.3.9 J&J Snack Foods

    Note: Product cover images may vary from those shown
    3 of 4


    4 of 4
    • Kellogg's Company
    • Nestle Inc.
    • ConAgra Food Inc.
    • Calbee, Inc.
    • Frito Lay's
    • PepsiCo
    • Hormel Foods
    • Sargento Foods
    • J&J Snack Foods
    Note: Product cover images may vary from those shown