Snacks Market to Record Growth of $260.88 Billion | Growing Health Issues and Lifestyle Changes to Boost Growth | Technavio |
Cynthia L. Herzog
5 min read
NEW YORK, March 14, 2022 /PRNewswire/ — The global snacks market size should increase by $260.88 billion between 2020 and 2025. The market observed a year-on-year growth of 5.11% in 2021 and is expected to grow at a CAGR of 5.71% during the forecast period.
Get insights on market size, growth variance, and year-over-year growth rates.
The Snacks Market report provides an overview of key trends, key growth drivers, and challenges impacting the overall market growth.
The market is driven by growing health concerns as well as changing lifestyles and diets and increasing replacement of meals with snacks. The increasing prevalence of obesity and similar diseases is forcing consumers around the world to adopt healthy lifestyles. This increased the consumption of healthy snacking habits to improve metabolism rates. These factors have increased the demand for healthier snacks like multigrain potato chips and rice-based snacks. The expansion of retail trade has greatly increased the number of hypermarkets and supermarkets across the world. This, coupled with increasing consumer disposable incomes, has further increased the consumption and sales of healthier snacks, thereby driving the growth of the market.
The snacking market is segmented by product (baked goods, chocolate, savory snacks, frozen snacks, and others) and geography (APAC, Europe, North America, South Americaand MEA).
The bakery products segment has generated maximum revenue in the market in 2021. The market growth in the segment will be significant during the forecast period. In terms of geography, the APAC region will have the largest market share. The region currently holds 35% of the global market share. The expansion of the retail sector has played a crucial role in the growth of the Asia-Pacific snacks market. China and Japan are the key markets for the snacks market in APAC. Market growth in the region will be faster than market growth in other regions. The snack market covers the following areas:
Companies cited
The market is fragmented due to the presence of numerous regional and international players offering differentiated products. The market vendors are adopting various organic and inorganic growth strategies to stay competitive. The report offers in-depth information about product launches and successful business strategies adopted by leading vendors in the market. Here are some of the major players along with their product offerings.
- Cooperatie Koninklijke Cosun UA: The company offers a wide range of snacks such as breaded onion rings, chilli cheddar cheese nuggets and others through its subsidiary Aviko BV.
- Hormel Foods Corp. : The company offers snacks through its brands such as Applegate, Austin blues, black label and others.
- Kellogg Co.: The company offers a wide range of snacks through its brands such as Cheez It, Pringles, AustinFarms of morning stars and others.
- Kind LLC: The company offers snacks such as dark chocolate nuts and sea salt, almond caramel and sea salt, etc.
- McCain Foods Ltd.: The company offers a wide range of snacks such as fries, cheese potato shots, nuggets among others.
Download our free sample identify other dominating players and major revenue-generating segments and regions in the market.
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Global Packaged Rice Snacks Market 2021-2025: The global packaged rice snacks market is segmented by Product (Rice Cakes, RCCB and Rice Chips) and Geography (APAC, North America, Europe, South Americaand MEA).
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Scope of the snacks market |
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Report cover |
Details |
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Page number |
120 |
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Year of reference |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum and CAGR |
Accelerate at a CAGR of 5.71% |
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Market Growth 2021-2025 |
$260.88 billion |
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Market structure |
Fragmented |
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Annual growth (%) |
3.60 |
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Regional analysis |
APAC, Europe, North America, South America and MEA |
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Successful market contribution |
APAC at 35% |
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Main consumer countries |
United States, China, Japan, Germany and United Kingdom |
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Competitive landscape |
Leading companies, competitive strategies, scope of consumer engagement |
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Profiled companies |
Cooperatie Koninklijke Cosun UA, General Mills Inc., Hormel Foods Corp., Kellogg Co., Kind LLC, McCain Foods Ltd., Mondelez International Inc., Nestlé SA, PepsiCo Inc. and Tyson Foods Inc. |
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Market dynamics |
Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the forecast period. |
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Personalization area |
If our report does not include the data you are looking for, you can contact our analysts and customize the segments. |
Main topics covered:
Abstract
Market landscape
- Market ecosystem
- Value chain analysis
Market sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market Outlook: Predictions for 2020 – 2025
Five forces analysis
- The bargaining power of buyers
- Bargaining power of suppliers
- The threat of new entrants
- The threat of substitutes
- Threat of rivalry
- Market state
Market segmentation by product
- Market segments
- Comparison by product
- Bakery products – Market size and forecast 2020-2025
- Chocolate – Market size and forecast 2020-2025
- Salty snacks – Market size and forecast 2020-2025
- Frozen snacks – Market size and forecast 2020-2025
- Others – Market size and forecast 2020-2025
- Market opportunity by product
Customer landscape
Geographic landscape
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- North America – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Main leading countries
- Market Opportunity by Geography
- Market factors
- Market challenges
- Market trends
Supplier Landscape
- Supplier Landscape
- Landscape disturbance
Vendor analysis
- Suppliers Covered
- Positioning on the supplier market
- Cooperatie Koninklijke Cosun UA
- General Mills Inc.
- Hormel Foods Corp.
- Kellogg Co.
- Gender LLC
- McCain Foods Ltd.
- Mondelez International Inc.
- Nestlé SA
- PepsiCo Inc.
- Tyson Foods Inc.
appendix
- Report scope
- Currency conversion rates for the US dollar
- Research methodology
- Abreviations list
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