Dublin, Aug. 30, 2023 (GLOBE NEWSWIRE) -- The "Snacks Market Size, Share & Trends Analysis Report By Product (Frozen & Refrigerated, Fruit, Bakery), By Packaging (Bags & Pouches, Boxes), By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global snacks market size is expected to reach USD 1,844.42 billion by 2030, expanding at 2.8% CAGR from 2023 to 2030
The shifting landscape of food consumption patterns and strategic partnerships between snack manufacturers and food delivery partners has paved the way for remarkable growth in the market. Consumers are increasingly drawn to snacks crafted from natural, wholesome ingredients, free from artificial additives.
This preference extends to snacks that cater to specific dietary needs like gluten-free, vegan, and organic options, underscoring a growing emphasis on healthier snacking choices. Lifestyle changes, cultural influences, and heightened awareness have fundamentally altered consumer eating habits.
The trend towards snacking throughout the day, particularly in Europe and North America, presents a substantial avenue for manufacturers to innovate and expand. As savory snacks gain traction, mini-meals have become a favored option, with diverse choices like sushi, jerky, and handheld wraps gaining popularity. The distribution landscape is evolving as well, with online channels projected to play a pivotal role in market growth.
The Asia Pacific region stands as a dominant force, influenced by rising living standards, premiumization, and the dynamic snacking habits of millennials driven by social media. With an eye on global expansion, snack brands are strategically positioning themselves in different regions, offering consumers a diverse array of snack choices from around the world.
Amidst this evolution, both global giants and local players contribute to the dynamic and fragmented nature of the snacks industry.
Snacks Market Report Highlights
- Savory snacks dominated the market in 2022 as these snacks offer an extensive range of flavors and textures, catering to diverse consumer preferences and ensuring continuous product innovation
- Supermarkets and hypermarkets dominated the market in 2022 due to the sheer volume of stores present across the world and the convenient option of having a vast option of product varieties in a single place
- Bags & pouches dominated the market in 2022. The cost-effectiveness, sustainability efforts, and versatility in accommodating various snack types contribute to their widespread preference as the packaging option of choice in the snacks industry
- Asia Pacific is expected to register the fastest growth during the forecast period. The rapid adoption of online channels and its integration with brick-and-mortar stores for the purchase of snacks is expected to be the major growth driver in this region
Competitive Analysis
- Monsoon Harvest
- General Mills, Inc.
- PepsiCo
- The Kraft Heinz Company
- Nestle
- The Kellogg Company
- Unilever
- Calbee
- Intersnack Group GmbH & Co. KG
- Conagra Brands, Inc.
- ITC Limited
- Grupo Bimbo
- Danone
- Mars, Incorporated
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.4. Information Analysis
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Product Type Outlook
2.3. Packaging Outlook
2.4. Distribution Channel Outlook
2.5. Regional Outlook
2.6. Competition Outlook
Chapter 3. Snacks Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.2.1. Raw Material Outlook
3.2.2. Manufacturing and Technology Outlook
3.2.3. Profit Margin Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint Analysis
3.3.3. Market Opportunities
3.3.4. Market Challenges
3.4. Industry Analysis - Porter's Five Forces Analysis
3.5. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
4.1. Demographics Analysis
4.2. Consumer Trends and Preferences
4.3. Factors Affecting Buying Decision
4.4. Consumer Installation Type Adoption
4.5. Key Observations & Findings
Chapter 5. Snacks Market: Product Estimates & Trend Analysis
5.1. Product Movement Analysis & Market Share, 2022 & 2030
5.2. Frozen & Refrigerated
5.2.1. Frozen & refrigerated snacks market estimates and forecast, 2017 - 2030 (USD Billion)
5.3. Fruit
5.4. Bakery
5.5. Savory
5.6. Confectionery
5.7. Dairy
5.8. Others
Chapter 6. Snacks Market: Packaging Estimates & Trend Analysis
6.1. Packaging Movement Analysis & Market Share, 2022 & 2030
6.2. Bags & Pouches
6.3. Boxes
6.4. Cans
6.5. Jars
Chapter 7. Snacks Market: Distribution Channel Estimates & Trend Analysis
7.1. Distribution channel Movement Analysis & Market Share, 2022 & 2030
7.2. Supermarkets & Hypermarkets
7.3. Convenience Stores
7.4. Online
7.5. Others
Chapter 8. Snacks Market: Regional Estimates & Trend Analysis
8.1. Regional Movement Analysis & Market Share, 2022 & 2030
For more information about this report visit https://www.researchandmarkets.com/r/1j8cb8
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