The global Snack Food market was valued at USD 427.02 million in 2020 and is forecasted to reach USD 535 million by 2027, with a CAGR of 3.30% during the forecasting period 2020-2027.
The market is driven by several growth factors such as changing consumer lifestyle, demand for convenience and urbanization spurring market growth. However, the market growth is restrained by increasing incidents of obesity and stringent government regulations.
The Global Snack Food market is segmented by types such as Salted Snacks, Bakery Snacks, Confectionery and Specialty & Frozen Snacks. Based on distribution channel, the market is segmented into Specialist Retailers, Internet Sales, Super Markets/ Hyper Markets, Convenience Stores and Others. Geographically, the market is segmented into North America, South America, Europe, Asia Pacific and RoW.
Geographically, Europe is taking the major share of global snack food products, followed by North America with a major contribution from the US accounting for one-third of the global demand. The Asia-Pacific is the fastest growing region during the forecasting period 2019-2026, mainly due to the increasing demand in developing countries like India and China. Changing eating habits of the people in developing countries, growing urbanization is driving the growth in this region.
The report profiles the following companies, which includes Calbee Inc., ConAgra Foods Inc., Ferrero S.P.A., General Mills Inc., Nestle, The Kraft Heinz Company, Tohato Inc. Cadbury Schweppes Plc., Kellogg Company, PepsiCo., Hormel Foods, Sargento Foods, J&J Snack Foods, KIND, Dream Pretzels, Metro Snacks, Grupo Bimbo, and S.A.B. de C.V.
Report : Snack Food Market - By Type (Extruded, Non-extruded) By Distribution Channel (SuperMarkets & HyperMarkets, Convenience Stores, Specialty Food Stores, Online Retailers, Others) By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa) - Industry Analysis, Opportunity and Forecast 2020 To 2027