Global Snacks Market Outlook to 2028
Description
Global Snacks Market Overview
The global snacks market is valued at USD 692 billion, based on a five-year historical analysis, driven by a variety of factors such as changing consumer lifestyles, increasing disposable incomes, and growing urbanization. Consumers are increasingly seeking convenient and on-the-go food options, fueling the demand for snacks across multiple categories. Additionally, the rising health consciousness among consumers has led to a surge in demand for healthier snack alternatives such as plant-based, gluten-free, and low-sugar products.
Regions such as North America, Europe, and Asia-Pacific dominate the snacks market due to their large populations, high consumption levels, and strong retail infrastructures. The United States, in particular, leads due to the extensive presence of established snack manufacturers and the rapid adoption of convenience foods. Similarly, emerging economies like China and India are experiencing rapid growth in the snacks sector due to rising disposable incomes, urbanization, and the increasing influence of Western eating habits.
Governments are launching large-scale public health campaigns that promote the consumption of healthier snacks. In 2024, the UK government invested into its health campaign aimed at reducing obesity, focusing on snacks with reduced sugar and fat. Similar initiatives have been seen in countries like Australia, where government campaigns are encouraging a shift toward healthier snack consumption, directly influencing consumer purchasing patterns.
Global Snacks Market Segmentation
By Product Type: The market is segmented by product type into savory snacks, sweet snacks, and functional snacks. Savory snacks have dominated the market share, largely due to the continued popularity of chips, pretzels, and nuts. These snacks are staples in many households and have a well-established presence in both traditional and modern retail channels. Brands such as Lays and Pringles have cultivated strong brand loyalty, which contributes to the dominance of this segment.
By Distribution Channel: The market is segmented by distribution channels into supermarkets & hypermarkets, convenience stores, and online retail. Supermarkets and hypermarkets dominate the distribution channel due to their extensive product offerings, larger store footprints, and the availability of both premium and economy snack brands. Consumers prefer these outlets for bulk purchases and a wider range of choices. Retail giants such as Walmart, Tesco, and Carrefour play a pivotal role in maintaining the dominance of this segment.
By Region: The market is segmented by region into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America leads the market due to its mature snack industry, higher per capita consumption of snacks, and strong brand presence. The convenience of snacks and a culture of on-the-go eating further fuel the regions dominance. The presence of large multinational snack companies such as Pepsi Co, Kelloggs, and General Mills also contributes to the market leadership in this region.
Global Snacks Market Competitive Landscape
The market is dominated by key players, both global and regional, that hold significant market share due to their extensive distribution networks, product innovation, and strong brand presence. These companies consistently invest in product development, mergers, and acquisitions to maintain their competitive edge.
Company
Established Year
Headquarters
Revenue (USD Bn)
Global Footprint
Key Products
R&D Investment
Sustainability Initiatives
Number of Brands
Pepsi Co, Inc.
1965
New York, USA
Nestl S.A.
1867
Vevey, Switzerland
Mondelez International, Inc.
2012
Illinois, USA
The Kellogg Company
1906
Michigan, USA
General Mills, Inc.
1866
Minnesota, USA
Global Snacks Market Analysis
Market Growth Drivers
Increase in Health-Conscious Consumer Demand for Functional Snacks: The shift in consumer preferences toward healthier snacks is a major growth driver in the global snacks market. In 2024, reports show that around 3.7 billion people globally are seeking healthier food options, driving up demand for snacks with functional benefits such as high protein, fiber, and natural ingredients. For instance, functional snack foods are expected to reach sales volumes of over 160 million units in 2024, supported by an increase in awareness around health-related issues such as obesity and heart disease.
Expansion of E-Commerce and Online Retail Platforms: The rising demand for convenience in purchasing snacks online is a factor. Data shows that, as of 2024, over 2 billion consumers worldwide use e-commerce platforms to buy food products, and the snack segment represents nearly 17 million units sold through online platforms in major markets like North America and Europe.
Rising Demand for Plant-Based and Vegan Snacks: The growing trend of plant-based diets is pushing up demand for plant-based snacks. By 2024, it is estimated that around 240 million consumers globally are adopting a vegetarian or vegan diet, a number that is projected to grow further. This increasing shift has driven snack manufacturers to introduce new plant-based products, with plant-based snack launches doubling from 2019 to 2024.
Market Challenges
Supply Chain Disruptions and Inflationary Pressures: The global supply chain for snacks is under stress due to inflationary pressures, with transportation costs for raw materials and final products increasing by over 7 billion dollars across 2024. Food manufacturers have reported difficulties sourcing critical ingredients like cocoa, nuts, and grains, further driving up production costs.
Stringent Government Regulations on Sugar and Salt Content: Governments worldwide are enforcing stricter regulations on sugar and salt levels in food products, including snacks. In 2024, over 70 countries have introduced regulations to limit sugar and sodium levels, impacting snack manufacturers who must reformulate their products. These regulations have led to increased R&D expenses, with an estimated 4.5 billion dollars allocated in 2024 alone toward meeting regulatory standards while maintaining flavor and consumer appeal.
Global Snacks Market Future Outlook
Over the next five years, the global snacks industry is expected to grow due to rising consumer preferences for healthier snacks, expansion of e-commerce platforms, and increasing disposable incomes in emerging economies. Key growth drivers will include the growing popularity of plant-based and functional snacks, coupled with innovations in packaging and flavor profiles.
Future Market Opportunities
Expansion of Personalized Snack Offerings: Over the next five years, snack companies will increasingly focus on personalized nutrition. By 2029, it is expected that over 20 million consumers globally will use digital platforms to customize their snack purchases based on dietary preferences, allergies, and health goals. This shift will lead to growth in snack products tailored to individual nutritional needs, driving sales in this category.
Increased Demand for Sustainable and Ethical Snacks: The demand for snacks sourced sustainably and produced ethically will grow significantly over the next five years. By 2029, the market will see over 25 billion snack units produced annually with eco-friendly packaging and fair-trade-certified ingredients. This trend will be driven by both consumer demand and regulatory pressures, especially in developed markets.
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The global snacks market is valued at USD 692 billion, based on a five-year historical analysis, driven by a variety of factors such as changing consumer lifestyles, increasing disposable incomes, and growing urbanization. Consumers are increasingly seeking convenient and on-the-go food options, fueling the demand for snacks across multiple categories. Additionally, the rising health consciousness among consumers has led to a surge in demand for healthier snack alternatives such as plant-based, gluten-free, and low-sugar products.
Regions such as North America, Europe, and Asia-Pacific dominate the snacks market due to their large populations, high consumption levels, and strong retail infrastructures. The United States, in particular, leads due to the extensive presence of established snack manufacturers and the rapid adoption of convenience foods. Similarly, emerging economies like China and India are experiencing rapid growth in the snacks sector due to rising disposable incomes, urbanization, and the increasing influence of Western eating habits.
Governments are launching large-scale public health campaigns that promote the consumption of healthier snacks. In 2024, the UK government invested into its health campaign aimed at reducing obesity, focusing on snacks with reduced sugar and fat. Similar initiatives have been seen in countries like Australia, where government campaigns are encouraging a shift toward healthier snack consumption, directly influencing consumer purchasing patterns.
Global Snacks Market Segmentation
By Product Type: The market is segmented by product type into savory snacks, sweet snacks, and functional snacks. Savory snacks have dominated the market share, largely due to the continued popularity of chips, pretzels, and nuts. These snacks are staples in many households and have a well-established presence in both traditional and modern retail channels. Brands such as Lays and Pringles have cultivated strong brand loyalty, which contributes to the dominance of this segment.
By Distribution Channel: The market is segmented by distribution channels into supermarkets & hypermarkets, convenience stores, and online retail. Supermarkets and hypermarkets dominate the distribution channel due to their extensive product offerings, larger store footprints, and the availability of both premium and economy snack brands. Consumers prefer these outlets for bulk purchases and a wider range of choices. Retail giants such as Walmart, Tesco, and Carrefour play a pivotal role in maintaining the dominance of this segment.
By Region: The market is segmented by region into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America leads the market due to its mature snack industry, higher per capita consumption of snacks, and strong brand presence. The convenience of snacks and a culture of on-the-go eating further fuel the regions dominance. The presence of large multinational snack companies such as Pepsi Co, Kelloggs, and General Mills also contributes to the market leadership in this region.
Global Snacks Market Competitive Landscape
The market is dominated by key players, both global and regional, that hold significant market share due to their extensive distribution networks, product innovation, and strong brand presence. These companies consistently invest in product development, mergers, and acquisitions to maintain their competitive edge.
Company
Established Year
Headquarters
Revenue (USD Bn)
Global Footprint
Key Products
R&D Investment
Sustainability Initiatives
Number of Brands
Pepsi Co, Inc.
1965
New York, USA
Nestl S.A.
1867
Vevey, Switzerland
Mondelez International, Inc.
2012
Illinois, USA
The Kellogg Company
1906
Michigan, USA
General Mills, Inc.
1866
Minnesota, USA
Global Snacks Market Analysis
Market Growth Drivers
Increase in Health-Conscious Consumer Demand for Functional Snacks: The shift in consumer preferences toward healthier snacks is a major growth driver in the global snacks market. In 2024, reports show that around 3.7 billion people globally are seeking healthier food options, driving up demand for snacks with functional benefits such as high protein, fiber, and natural ingredients. For instance, functional snack foods are expected to reach sales volumes of over 160 million units in 2024, supported by an increase in awareness around health-related issues such as obesity and heart disease.
Expansion of E-Commerce and Online Retail Platforms: The rising demand for convenience in purchasing snacks online is a factor. Data shows that, as of 2024, over 2 billion consumers worldwide use e-commerce platforms to buy food products, and the snack segment represents nearly 17 million units sold through online platforms in major markets like North America and Europe.
Rising Demand for Plant-Based and Vegan Snacks: The growing trend of plant-based diets is pushing up demand for plant-based snacks. By 2024, it is estimated that around 240 million consumers globally are adopting a vegetarian or vegan diet, a number that is projected to grow further. This increasing shift has driven snack manufacturers to introduce new plant-based products, with plant-based snack launches doubling from 2019 to 2024.
Market Challenges
Supply Chain Disruptions and Inflationary Pressures: The global supply chain for snacks is under stress due to inflationary pressures, with transportation costs for raw materials and final products increasing by over 7 billion dollars across 2024. Food manufacturers have reported difficulties sourcing critical ingredients like cocoa, nuts, and grains, further driving up production costs.
Stringent Government Regulations on Sugar and Salt Content: Governments worldwide are enforcing stricter regulations on sugar and salt levels in food products, including snacks. In 2024, over 70 countries have introduced regulations to limit sugar and sodium levels, impacting snack manufacturers who must reformulate their products. These regulations have led to increased R&D expenses, with an estimated 4.5 billion dollars allocated in 2024 alone toward meeting regulatory standards while maintaining flavor and consumer appeal.
Global Snacks Market Future Outlook
Over the next five years, the global snacks industry is expected to grow due to rising consumer preferences for healthier snacks, expansion of e-commerce platforms, and increasing disposable incomes in emerging economies. Key growth drivers will include the growing popularity of plant-based and functional snacks, coupled with innovations in packaging and flavor profiles.
Future Market Opportunities
Expansion of Personalized Snack Offerings: Over the next five years, snack companies will increasingly focus on personalized nutrition. By 2029, it is expected that over 20 million consumers globally will use digital platforms to customize their snack purchases based on dietary preferences, allergies, and health goals. This shift will lead to growth in snack products tailored to individual nutritional needs, driving sales in this category.
Increased Demand for Sustainable and Ethical Snacks: The demand for snacks sourced sustainably and produced ethically will grow significantly over the next five years. By 2029, the market will see over 25 billion snack units produced annually with eco-friendly packaging and fair-trade-certified ingredients. This trend will be driven by both consumer demand and regulatory pressures, especially in developed markets.
Please Note: It will take 5-7 business days to complete the report upon order confirmation
Table of Contents
86 Pages
- 1. Global Snacks Market Overview
- 1.1. Definition and Scope
- 1.2. Market Taxonomy
- 1.3. Market Growth Rate
- 1.4. Market Segmentation Overview
- 2. Global Snacks Market Size (In USD Bn)
- 2.1. Historical Market Size
- 2.2. Year-On-Year Growth Analysis
- 2.3. Key Market Developments and Milestones
- 3. Global Snacks Market Analysis
- 3.1. Growth Drivers
- 3.1.1. Rising demand for healthy snacks (Consumer Preference Shifts)
- 3.1.2. Convenience and on-the-go consumption (Lifestyle Trends)
- 3.1.3. Expansion of retail channels (E-commerce & Modern Retail)
- 3.1.4. Globalization of food culture (Cultural Influence)
- 3.2. Market Challenges
- 3.2.1. Fluctuating raw material prices (Supply Chain)
- 3.2.2. High competition from local brands (Competitive Landscape)
- 3.2.3. Rising awareness of health risks associated with processed foods (Consumer Health Awareness)
- 3.2.4. Regulatory hurdles (Food Safety Regulations)
- 3.3. Opportunities
- 3.3.1. Innovation in product offerings (Product Innovation)
- 3.3.2. Increasing demand for plant-based and organic snacks (Sustainability Trends)
- 3.3.3. Penetration into emerging markets (Emerging Economies)
- 3.3.4. Digital marketing and e-commerce expansion (Marketing & Distribution Channels)
- 3.4. Trends
- 3.4.1. Preference for clean label snacks (Ingredient Transparency)
- 3.4.2. Adoption of functional snacks (Health-Boosting Properties)
- 3.4.3. Sustainable packaging (Eco-Friendly Initiatives)
- 3.4.4. Personalization of snacks (Customization & Personal Preferences)
- 3.5. Government Regulations
- 3.5.1. Nutritional labeling standards (Labeling Regulations)
- 3.5.2. Import/export restrictions (International Trade)
- 3.5.3. Sustainable sourcing mandates (Environmental Policies)
- 3.5.4. Health and safety standards (Food Safety Regulations)
- 3.6. SWOT Analysis
- 3.7. Stake Ecosystem
- 3.8. Porters Five Forces Analysis
- 3.9. Competition Ecosystem
- 4. Global Snacks Market Segmentation
- 4.1. By Product Type (In Value %)
- 4.2. By Distribution Channel (In Value %)
- 4.3. By Ingredient Type (In Value %)
- 4.4. By Age Group (In Value %)
- 4.5. By Region (In Value %)
- 5. Global Snacks Market Competitive Analysis
- 5.1. Detailed Profiles of Major Companies
- 5.2. Cross Comparison Parameters
- 5.3. Market Share Analysis
- 5.4. Strategic Initiatives
- 5.5. Mergers and Acquisitions
- 5.6. Investment Analysis
- 5.7. Venture Capital Funding
- 5.8. Private Equity Investments
- 6. Global Snacks Market Regulatory Framework
- 6.1. Food Safety Standards (FDA, EFSA, FSSAI)
- 6.2. Nutritional Labeling (Global & Regional Requirements)
- 6.3. Sustainability Certifications (Fair Trade, Organic, Rainforest Alliance)
- 6.4. Compliance with Environmental Regulations (Waste Management, Carbon Footprint)
- 7. Global Snacks Market Future Market Size (In USD Bn)
- 7.1. Future Market Size Projections
- 7.2. Key Factors Driving Future Market Growth
- 8. Global Snacks Market Future Market Segmentation
- 8.1. By Product Type (In Value %)
- 8.2. By Distribution Channel (In Value %)
- 8.3. By Ingredient Type (In Value %)
- 8.4. By Age Group (In Value %)
- 8.5. By Region (In Value %)
- 9. Global Snacks Market Analyst's Recommendations
- 9.1. TAM/SAM/SOM Analysis
- 9.2. Customer Cohort Analysis
- 9.3. Marketing Initiatives
- 9.4. White Space Opportunity Analysis
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