To improve the website's functionality, we use cookies, including third-party cookies. Read our Privacy Policy for more information
I AgreeAnalysis of Snacks market covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
worldwide sales of snacks stand at a revenue of US$ 507.2 billion In 2023 and are projected to reach an approximate market valuation of US$ 835.8 billion by the end of 2033. Over the course of the next ten years, the global snacks market is forecasted to evolve at 5.1% CAGR.
Growing world population and increasing demand for packaged and convenience foods are expected to be major factors driving the shipments of snacks over the coming years. Changing consumer preferences, growing focus on healthy eating, rising demand for foods made with organic and natural ingredients, high per capita disposable income, and globalization are other determinants that could alter snack food consumption trends through 2033.
Crackers, popcorn, beef jerky, granola bars, cereal, crisps, pretzels, potato chips, protein bars, cheese sticks, and trail mix are some of the most popular snacks currently available in the global landscape. Growing health consciousness is projected to result in high demand for healthy snack foods and nutritious snacks throughout the forecast period. However, stringent food regulatory mandates in certain countries and bans on the use of certain ingredients in snack manufacturing are expected to inhibit market development over the next ten years.
Sales of snacks in the Asia Pacific region, including fruit snacks, dominate the global scene at present and are projected to maintain a similar stance across the forecast period. The presence of key snack manufacturers and increasing disposable income are primary factors driving market growth in the APAC region.
India is anticipated to emerge as a highly opportune market in APAC for new as well as established snack producers over the coming years and this growth can be ascribed to the growing adoption of fast-paced lifestyles, changing consumer preferences, increasing availability of packaged foods, and rising spending potential of consumers.
Demand for snacks in India is estimated to account for around 60% share of the South Asia market by the end of 2033. Dhokla, vegan snacks, hot chips, and popcorn are some popular snack foods that could potentially witness a hike in demand over the next ten years in India.
Report Attributes |
Details |
Snacks Market Size (2023) |
US$ 507.2 Billion |
Projected Market Value (2033F) |
US$ 835.8 Billion |
Global Market Growth Rate (2023-2033) |
5.1% CAGR |
India Market Share in South Asia (2033F) |
60% |
Key Companies Profiled |
|
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
“Rising Focus on Health Boosting Demand for Healthy Snacks and Slowing Down High-calorie Snack Consumption”
Conventionally, snacks have been seen as high-calorie unhealthy food products but this trend is changing rapidly as manufacturers are focused on providing healthy snacks owing to rising demand from consumers. Increasing awareness about the benefits associated with the consumption of organic and natural ingredients is also predicted to favor demand for healthy snacks over the next ten years. The aforementioned factors are forecasted to influence sales of keto snacks, low-calorie snacks, low-carb snacks, and high-protein snacks.
Get a detailed account of current and projected market trends, opportunities, and restraints in this revised snacks research report by Fact.MR, a market research and competitive intelligence provider.
“Innovative Product Launches and Supportive Initiatives by Established Market Players”
Upcoming snack suppliers are investing in R&D to fast-track new launches that will also help them increase their revenue and sales potential.
Aspiring snack companies can also focus on obtaining support from established market players through their start-up incubation and engagement programs.
More Insights, Lesser Cost (-50% off)
Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR
“Rising Consumption of Healthy Foods to Boost U.S. Market Potential”
Obesity and diabetes are two crucial public health issues in the United States that are anticipated to promote demand for healthy snacks in the country over the coming years. Increasing health and fitness awareness had led to a drop in the consumption of high-calorie unhealthy snacks and this is projected to create new opportunities for healthy snack providers across the forecast period.
High incidence of chronic diseases, changing consumer preferences, strict regulations to curb the use of artificial additives, and rising demand for convenience foods are other factors that could influence sales of snacks over the next ten years. Pretzels, beef jerky, cereal, and popcorn are some of the most popular snacks in the country.
“Increasing Disposable Income and Globalization to Open Up New Avenues for Market Players”
Globalization and the influence of Western culture have increased in many Asian countries such as India, Korea, Japan, and China. Changing dietary preferences, rising per capita disposable income, high consumption of convenience foods, and growing working women population are other factors that are slated to influence shipments of snack foods in Japan, Korea, and other Asian countries over the next ten years. Rice cakes and pork rinds are anticipated to be popular snacks in almost all Asian countries.
However, increasing prices of snacks and other packaged foods due to changing economic climate of the world are expected to hinder sales of snacks to a certain extent in Japan as well as Korea.
“European Consumers Prefer Healthy Snacks & Nutritious Snacks Over Conventional Snacks”
High incidence of chronic diseases had led to an increased focus on health and this has subsequently resulted in high demand for healthy snacks and low-calorie foods. The adoption of veganism and plant-based diets in several European countries has created a new demand for healthy snacks, which is motivating snack manufacturers to launch new and innovative snacks.
Changing dietary preferences, growing consumption of packaged foods, rising number of novel product launches, and growing popularity of organic foods and natural ingredients are other factors that shape snack demand outlook in European countries.
“Organic Snacks Anticipated to Witness Bright Demand Outlook”
Based on nature, the market for snacks is segmented into conventional and organic.
Growing consumer awareness for clean-label products and organic foods is anticipated to primarily drive consumption of organic snacks over the coming years. Moreover, stringent mandates regulating the use of artificial preservatives and food additives in snacks are also expected to uplift the demand for organic snacks in the long run. Changing consumer preferences have pushed snack manufacturers to opt for healthy and natural ingredients and this is also expected to favor snack food sales in the future.
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
Prime snack providers are focusing on mergers, acquisitions, and collaborations to expand their business scope across various regions and gain a competitive advantage over other companies.
Snack food manufacturers are also focusing on deploying innovative market strategies and tactics that enable them to attract more customers and increase their revenue generation potential.
- Premium Report Details -
- Let's Connect -
- Quick Contact -
- Get Started -
Get insights that lead to new growth opportunities
Buy NowGet A Special pricing for start-ups and universities
Enquiry Before Buying- Humble, Yet Honored -
- Related Reports -
Currently, the global snacks market accounts for a revenue of US$ 507.2 billion.
By 2033-end, worldwide consumption of snacks is set to reach US$ 835.8 billion.
Shipments of snacks are expected to progress at 5.1% CAGR over the next ten years.
Asia Pacific is projected to be the most lucrative regional market for snack manufacturers.
Danone, Kraft Foods Group Inc., Campbell Soup Company, and ITC Limited are key suppliers of snacks.