250-page snack food market study by Fact MR, a leading provider of market and competitive intelligence
The unprecedented COVID-19 pandemic has hit the global economy hard. Considering the food industry, one of the most important sectors of the economy, a huge impact on the whole process from field to fork was found. Restrictions on the movement of workers, the closure of food production plants and changing consumer demand have put undue pressure on the food industry.
The report offers actionable and valuable insights into the Snacks market. The latest report from Fact.MR provides details about the current market scenario across different regions along with the historical data and forecast of the market. The report also includes information on sales and demand for Snacks Market across various industries and regions.
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Global demand for snacks is expected to proliferate at a CAGR of 6.5% from 2021 to 2031, according to a study recently published by Fact.MR. By the end of the aforementioned forecast period, the market is expected to be valued at US$751 billion as consumers are inclined to consume organic snacks. By the end of 2021, demand for snacks is expected to reach US$400 billion.
Market research by Fact.MR gives exclusive insights on market growth. The study identifies crucial trends driving the growth of the Snacks Market. This newly released report sheds light on vital dynamics, such as drivers, restraints, and opportunities for major market players as well as emerging players associated with production and supply. Latest Fact.MR Report Provides In-Depth Analysis of the Snacks Market
This newly released and insightful report sheds light on the Snacks Market insights, key dynamics, their impact on the overall value chain from vendors to end users and Snacks Market growth.
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Key Segments Covered
-
Product Type
- Nuts & Seeds
- Cookies & Biscuits
- Meat Snacks
- Cereal Bars
- Salty Snacks
- Other Snacks
-
Sales Channel
- Snacks Sales via Modern Trade
- Snacks Sales via Departmental Stores
- Snacks Sales via Specialty Stores
- Snacks Sales via Online Stores
- Snacks Sales via Drug Stores
- Snacks Sales via Convenience Stores
- Snacks Sales via Other Sales Channels
-
Source Type
- Wheat Snacks
- Maize Snacks
- Rye Snacks
- Rice Snacks
- Fruits & Vegetables
- Meat Snacks
- Other Sources
-
Nature
- Organic Snacks
- Conventional Snacks
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Key Takeaways from the Market Study
- By product type, cereal bars are expected to yield US$ 4.5 Bn in revenue by 2031
- Wheat snacks are expected to be widely consumed, growing at a CAGR of 5%
- Organic snacks consumption to receive significant push, clocking US$ 8 Bn in revenue
- India to emerge as one of the largest snacks market, capturing 60% of global revenue
- Healthy snacks consumption to impel sales across the U.S, expected to account for 20% of total revenue
“Increasing prevalence of fast-paced and hectic lifestyles is prompting consumers to opt for ready-to-eat foodstuffs, with a higher inclination towards consumption of health boosting snacks, “says a Fact.MR analyst.
Competitive Landscape
Prominent snacks manufacturers are capitalizing on new product launches and enhancement of production capacities in order to extend their outreach to a larger audience. Some notable developments in the global market for snacks are as follows:
- In January 2021, Kellogg Co. is set to expand its Special K brand into the keto category, with a new line of Special K Keto-Friendly Snack Bars. The firm offers the bar in peanut butter fudge and chocolate almond fudge flavors. A single bar contains 160 calories, 12 grams of fat, 7 grams of protein, 2 grams of carbohydrates, and 1 gram of sugar
- In July 2020, Britannia Industries Ltd. announced an allocation of ? 1,000 crores (US$ 134 million) to upscale production capacity in response to an exponential rise in home snacking throughout the COVID-19 pandemic. The investment is bifurcated into Greenfield facilities (US$ 9.3 million) and new product launches, including dairy products (US$ 4 million)
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Key Question answered in the survey of Snacks market report:
- Sales and Demand of Snacks
- Growth of Snacks Market
- Market Analysis of Snacks
- Market Insights of Snacks
- Key Drivers Impacting the Snacks market
- Which are the Key drivers impacted by Snacks market
- Restraints Shaping Market Growth
- Market Survey of Snacks
More Valuable Insights on Snacks Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Snacks, Sales and Demand of Snacks, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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