The Global Market for Snack Foods is Projected to Exceed US$630 Billion by 2020

Surging Popularity of Functional, Protein-Fortified, Organic, and Natural Snacks Drives the Global Snack Foods Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Snack Foods market. The global market for Snack Foods is projected to exceed US$630 billion by 2020, driven by robust demand for functional snacks, and rising popularity of protein-fortified, organic, and natural ingredients-based snack foods.

Snacks are emerging into modern day alternatives for elaborate full-fledged meals, and the changing paradigm of success in this market is single-serve, eat-anywhere, portable food products. With city life changing gears to speed into the fast lane, the rise of convenience foods for time constrained on-the-go citizens is spiraling in popularity, and snack foods has emerged as a major beneficiary. Undeterred by the ‘infamous snacking culture’ tag and misbranded snack foods affecting the global food economy, the worldwide market for snack foods continues to witness steady growth. Future growth in the market will be driven by robust demand for functional snacks, including bars, chips, cookies and yogurt, and surging popularity of protein-fortified, organic, and natural snacks.

Snacks and bars fortified with functional ingredients are expected to witness notable expansion in terms of catering to the demands of a broader demography as an effective solution for weight loss/gain, sports, muscle improvement and meal replacement. Also, rising health consciousness along with craving for snack foods is expected to drive dynamic demand for low-fat, low-sugar, low-carb, low-calorie snack foods. The corresponding launch of product offerings that are gluten-free, preservative-free, all natural, GMO-free, reduced/low/no trans-fat products are steadily on the rise benefiting market prospects in the near term. Other important growth drivers include healthy demand for meat snacks supported by the growing awareness about protein-rich diets, and strong sales of snack nuts attributed to their scientifically proven health benefits; unique nutrients, minerals, antioxidants, and vitamins profile of various nuts; and increasing interest of consumers in better-for-you snacks given the rising overweight and obesity levels and various disease conditions.

As stated by the new market research report on Snack Foods, Europe represents the largest market worldwide. Demand for healthy and nutritious snack foods is expected to witness steady growth in these markets driven by their technological strength, presence of leading product innovating companies, rising health consciousness, and the unified, aggressive stand to combat growing levels of obesity and other eating disorders. Asia-Pacific is poised to register the fastest CAGR of 7.2% over the analysis period. The booming retail sector, increasing penetration of international brands supported by the shift from traditional food to Western diets, growing trend of gifting snack foods, and efficient distribution and creative marketing strategies of snack foods companies comprise the key factors driving the high growth levels in the region.

Key players covered in the report include Calbee, Inc., ConAgra Foods Inc., Ferrero, General Mills Inc., Grupo Bimbo, S.A.B. de C.V., Herr Foods Inc., Intersnack Knabber-Gebäck GmbH, Kellogg Company, Link Snacks, Inc., Mars Inc., McDonald's Corporation, Meiji Co., Ltd., Mondelēz International, Inc., Mission Foods, Nestlé SA, Orkla Confectionery & Snacks Finland, PepsiCo, Pepperidge Farm Inc., Snyder's-Lance, Inc., The Bachman Company, The Hershey Company, The Kraft Heinz Company, United Biscuits, Want Want China Holdings Limited, Weaver Popcorn Company, and Yamazaki Baking Co., Ltd., among others.

The research report titled “Snack Foods: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections in value (US$) and volume (Thousand Tons) for all major geographic markets such as US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil, Mexico, and Rest of Latin America). Product Group/Segment analyzed in the report include Salted Snacks (Potato Chips, Tortilla & Corn Chips, Meat Snacks, Snack Nuts, Popcorn, Cheese Snacks, and Other Salted Snacks), Bakery Snacks, Confectionery, and Specialty & Frozen Snacks.

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