Snack Food Global Market Report 2024

The snack food market size has grown strongly in recent years. It will grow from $236.91 billion in 2023 to $252.36 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historical period can be ascribed to the increasing shifts in consumer lifestyles, the emphasis on convenience and portability, advancements in flavors and varieties, the impact of globalization and cultural influences, and the rising demands for natural and organic snacks.

The snack food market size is expected to see strong growth in the next few years. It will grow to $317.43 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecasted period can be linked to the increasing adoption of plant-based and alternative proteins, the implementation of sustainability practices, targeting specific demographics, global culinary influences, and a heightened focus on transparency and clean labeling. Major trends anticipated in the forecasted period include innovative textures, the trend of snackification in meals, exploration of global flavors, alignment with societal trends and busier lifestyles, innovations in ingredients, and the prominence of e-commerce and online retailing.

Many countries globally are witnessing a decline in crop prices due to overcapacity, leading to expectations of low raw material costs for food and beverage companies. In November 2022, the Cabinet Committee on Economic Affairs in India announced an $8.4 billion bailout package for sugar-producing farmers to address overproduction issues. This overproduction is such as ly to result in higher profit margins for food and beverage companies, enabling snack food manufacturers to enhance productivity and drive market growth.

The snack food market is expected to experience growth driven by changes in health-conscious consumer lifestyles. The shift towards health-conscious choices reflects an increased awareness and emphasis on healthier dietary and lifestyle decisions. Health-conscious consumers are seeking healthier snack options, emphasizing functional nutrition, sustainability, and maintaining a balance between great taste and nutrition. The global pandemic has further intensified health concerns, with 60% of consumers worldwide expressing increased health consciousness. The rising trend of specific diets or eating patterns, reported by 52% of participants in a Food and Health Survey, further underscores the impact of health-conscious consumer behavior on the breakfast cereal market.

The COVID-19 pandemic had a significant negative impact on the snack food manufacturing market in 2020, disrupting supply chains and leading to consumption declines due to global lockdowns. The pandemic-induced disruptions affected supply chains, with restrictions on the movement of goods and a decline in consumption due to lockdowns. However, it is anticipated that the snack food manufacturing market will recover over the forecast period, considering the pandemic as an unforeseen and isolated event rather than a reflection of ongoing weaknesses in the market or the global economy.

Snack food manufacturing companies are increasingly adopting robotics and automation technology to enhance production efficiency. Robotic systems automate various processes, such as batching, conveying, processing, storage, and packaging of savory snack products. This adoption of automation technology reduces production cycle time and increases output, improving plant conditions and minimizing contamination risks. The integration of collaborative or semi-autonomous robots in automation processes, including packaging, further enhances yields and ensures safer processing conditions for both workers and consumers.

Collaborations and partnerships among major companies in the snack food industry are becoming prevalent strategies to drive innovation and tap into emerging trends. In September 2022, Kellogg Co. and McKee Foods Corporation formed a strategic partnership to create new cereal products featuring popular McKee Foods brands. This collaboration allows Kellogg to leverage the popularity of McKee Foods brands, introduce innovative cereal options, reach new audiences, and generate additional revenue. Such partnerships contribute to the dynamic and evolving landscape of the snack food industry.


Major companies operating in the snack food market report are My Super Foods LLC, Nestlé SA, PepsiCo Inc., Unilever PLC, Mondelez International Inc., The Kraft Heinz Company, General Mills Inc., The Kellogg Company, Conagra Brands Inc., Sprout Foods Inc., AMCON Distributing Company Inc., Hain Celestial Group Inc., Haldiram Snacks Pvt. Ltd., McCain Foods Limited, Utz Quality Food LLC, Link Snacks Inc., Hanover Foods Corporation, Amy's Kitchen Inc., Nurture Me Inc., Clif Bar & Company, Clif Bar & Company, Lundberg Family Farms, Annie's Homegrown Inc., Grippo Potato Chip Company Inc., Creative Snacks Co. LLC, Hunter Foods LLC, Eat Real Snacks LLC, Heritage Family Specialty Foods Inc., YummyEarth Inc., Navitas Organics Inc.

Asia-Pacific was the largest region in the snack food market in 2023. North America was the second-largest region in the snack food market. The regions covered in the snack food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the snack food market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

There are two main types of snack food extruded snacks and non-extruded snacks. The production of snacks, primarily composed of cereal flour or starches, often involves the common method of extrusion cooking. Extruded snacks are known for being calorie and fat-dense, with minimal protein and fiber content, and may be perceived as less desirable by certain consumers. These snacks come in various flavors, including salty, tangy, spicy, among others, and are distributed through diverse channels such as supermarkets, hypermarkets, convenience stores, e-commerce, and more.

The snack food research report is one of a series of new reports that provides snack food statistics, including snack food industry global market size, regional shares, competitors with snack food share, detailed snack food segments, market trends and opportunities, and any further data you may need to thrive in the snack food industry. This snack food research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The snack food market consists of sales of salted, roasted, dried, cooked, or canned nuts; processed grains or seeds into snacks; peanut butter; potato chips, corn chips, popped popcorn, hard pretzels, pork rinds, and other snack food. The companies package and distribute their products through various distribution channels to both individual customers and commercial establishments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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