Global Snack Markets and Competitive Landscape 2021-2026 | Online sales are transforming the snack food retail landscape

DUBLIN, October 04, 2021– (BUSINESS WIRE) – The report “Snack Foods – Global Market Trajectory & Analytics” has been added to ResearchAndMarkets.com offer.

Global Snack Market To Reach $ 732.6 Billion By 2026

Global demand for snack foods is steadily increasing as busy schedules and busy lifestyles push consumers to replace traditional meals with convenient and healthy snack options. Demand in the global market is being driven by changing dietary habits and rapid urbanization in developing countries. Market demand is also likely to be positively influenced by the increase in disposable income and the introduction of innovative products.

Snacks with desirable qualities including low in fat, cholesterol, sugar and calories are poised to experience robust growth and support the expansion of the market. Growing health awareness along with the urge to snack is expected to drive a dynamic demand for low fat, fat free, low sugar, sugar free, low carbohydrate, no carbohydrate and low calorie snack foods.

The gradually receding line between meals and snacks creates additional opportunities for snacks. Future market growth will be driven by strong demand for functional snacks, including bars, crisps, cookies and yogurt, and the growing popularity of protein-enriched, organic and natural snacks.

Amid the COVID-19 crisis, the global snack market, estimated at US $ 493.4 billion in 2020, is expected to reach a revised size of US $ 732.6 billion by 2026, with a CAGR of 6.7% over the analysis period.

Bakery Snacks, one of the segments analyzed in the report, is expected to register a CAGR of 6.7% and reach $ 307.8 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the salty snacks segment is readjusted to a revised CAGR of 7.7% for the next 7 year period.

The US market is estimated at $ 164.8 billion in 2021, while China is expected to reach $ 87.9 billion by 2026

The United States snack market is estimated at US $ 164.8 billion in 2021. China, the world’s second-largest economy, is expected to reach a projected market size of US $ 87.9 billion by 2026, with a 8.9% CAGR during the analysis period.

Other notable geographic markets include Japan and Canada, each forecasting growth of 5.4% and 5.5%, respectively, over the period of analysis. In Europe, Germany is expected to grow by around 5.7% CAGR.

The United States is the largest regional market and growth is driven by the preference for snacks over daily meals, busy schedules and the increasing availability of healthy options. The increase in obesity in the United States is leading consumers to choose a low calorie snack over the traditional snack.

The Middle East, Latin America and Asia-Pacific offer potential growth opportunities given rising disposable incomes and expanding retail.

Confectionery segment to reach $ 151.8 billion by 2026

The growing demand for functional snacks, including confectionery, is supporting the growth of the confectionery segment. Considered to be fun foods, readily available sweets and snacks are widely consumed. With the rapid increase in the proportion of the health-conscious population, the demand for functional snack foods is increasing.

In the global confectionery segment, the United States, Canada, Japan, China and Europe will lead the estimated 5.6% CAGR for this segment. These regional markets representing a combined market size of US $ 80.6 billion in 2020 will reach a projected size of US $ 118.1 billion by the end of the analysis period. China will remain among the fastest growing countries in this group of regional markets.

Led by countries such as Australia, India and South Korea, the Asia-Pacific market is expected to reach $ 16.5 billion by 2026, while Latin America will grow at a CAGR of 6 , 9% during the analysis period.

Selected Competitors (Total 628 featured):

  • Calbee, Inc.

  • Brands Conagra, Inc.

  • Frito-Lay North America, Inc.

  • Hormel Food Company

  • J&J Snack Foods Corporation

  • Kellogg Company

  • Nestlé SA

  • PepsiCo, Inc.

  • Sargento Foods, Inc.

Key topics covered

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

  • Impact of COVID-19 and an impending global recession

  • 2020 marked as a year of disruption and transformation

  • Impact on the snack market

  • E-commerce and online-to-offline commerce see stable growth

  • Snackification: an alternative to a regular meal

  • Select market highlights

  • Definition and scope of the product

  • Select the snack categories

  • Global outlook

  • Regional market overview

  • Current and future market growth in developing countries

  • Major Players of Global Bakery Products and Cereals Market by Countries

  • Low barrier to entry intensifies competition

  • Innovation: name of the game in the crowded market

  • Advertising and promotional spending on the rise

  • Need for regional and cultural personalization

  • Innovative Marketing Strategies Define Product Success

  • Manufacturing with advanced extrusion technique offers costs and other benefits

  • Recent market activity

2. FOCUS ON CERTAIN PLAYERS

3. MARKET TRENDS AND FACTORS

  • Growing Preference for Convenient, Healthy Take-Out Food: Foundation for Market Growth

  • Increase in healthy and convenient snacks

  • Industry leverage effects on the globalization of flavors

  • Innovation Gains Ground as Manufacturers Seek to Replace Meals with Snacks

  • Healthy, high protein snacks grab attention

  • Potato chips are on the healthier trend

  • Manufacturers Add New Ingredients to Their Favorite Crisps

  • Fruity chips: a new innovation

  • High protein snacks show healthy demand

  • Growing Awareness of Importance of High Protein Diets Boosts Sales of Meat Snacks

  • Flavor innovation in meat snacks: a road well traveled

  • Natural ingredients stay strong

  • Seed snacks are gaining popularity

  • Growing demand for functional snacks: a powerful engine of growth

  • Trend towards simple snacks

  • Cereal bars stimulate demand

  • Fruit and nut ingredients show growing adoption in bars

  • Grain-based snack bars get a healthy makeover

  • Gluten-free snacks: the new buzzword

  • Formulation challenges drive product innovations in snacks and bars

  • Drinkable snacks in new packaging and flavors

  • Sustainable innovations gain precedence

  • Growing popularity of clean labels

  • Organic snacks show strong market penetration

  • Better products for you: a new growth segment

  • Requirement of “Transparency in all matters”

  • Recent trends in ingredients and flavors

  • Sweet and sour flavors invade the snack market

  • Health-conscious consumers opt for low-sugar snacks

  • Prominent demand for plant-based foods

  • Snack Nuts: The Preferred Choice of the New-Age Health-Conscious Consumer

  • Midday meals fall under the attack on snacks

  • Individual, Reclosable and Lightweight Snack Packaging Innovations Drive Market Adoption

  • Functionality and health benefits boost demand for soy-based snack foods

  • Millennials and Gen Z emerge as key influencing cohort

  • Millennial World Population Facts and Figures: Significant Indicators of Opportunity

  • Main distribution channels

  • Online sales are transforming the snack food retail landscape

  • Favorable economic and demographic trends strengthen market prospects

  • Rising world population offers lucrative growth opportunities

  • Child population: an important demographic factor

  • Decreasing family size leads to increased discretionary snack spending

  • The growth of the world’s middle class population is driving the expansion of the market

  • Expanding urban population drives growth in snack food consumption

4. WORLD MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETETION

For more information on this report visit https://www.researchandmarkets.com/r/35pw0b

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211004005410/en/

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David A. Albanese