Snack Food Industry to Witness 2.7% YoY Growth in 2020 Amid the COVID-19 Pandemic

DUBLIN, June 19, 2020 /PRNewswire/ -- The "Global Snack Food Markets, 2020-2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.

The global snack food market is expected to grow from $210.4 billion in 2019 to $215.9 billion in 2020 at a compound annual growth rate (CAGR) of 2.7%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $264.8 billion in 2023.

The Asia-Pacific was the largest region in the global snack food market, accounting for 56% of the market in 2019. North America was the second largest region accounting for 25% of the global snack food market. Africa was the smallest region in the global snack food market.

Many manufacturers and producers are increasingly using natural ingredients and have also reduced the use of artificial colors and flavors. Health concerns of consumers is increasing the sales of products with natural ingredients, additives and coloring agents. For instance, Pizza Hut stopped using artificial flavors and colors in its US stores in 2015.

Food and Beverage manufacturers should look to gain a stronger foothold in the increasingly popular healthy food products segment, either by introducing products with natural additives and coloring agents or by acquiring smaller firms that produce products with natural ingredients.

The snack food market consists of sales of snack foods by entities (organizations, sole traders and partnerships) that produce snack foods. The companies in the snack food industry are primarily engaged in salting, roasting, drying, cooking or canning nuts; processing grains or seeds into snacks; manufacturing peanut butter; or manufacturing potato chips, corn chips, popped popcorn, hard pretzels, pork rinds and similar snacks. The companies package and distribute their products through various distribution channels to both individual customers and commercial establishments.

Report Scope

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider snack food market, and compares it with other markets.

• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the Covid 19 virus and forecasting its recovery.
• Market segmentations break down market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
• The snack food market section of the report gives context. It compares the snack food market with other segments of the other foods products market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, snack food indicators comparison.

Key Topics Covered

1. Executive Summary

2. Report Structure

3. Snack Food Market Characteristics
3.1. Market Definition
3.2. Key Segmentations

4. Snack Food Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products

5. Snack Food Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers

6. Snack Food Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth

7. Snack Food Market Trends And Strategies

8. Snack Food Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, Value ($ Billion)
8.2.1. Drivers Of The Market
8.2.2. Restraints On The Market
8.3. Forecast Market Growth, Value ($ Billion)
8.3.1. Drivers Of The Market
8.3.2. Restraints On The Market

9. Snack Food Market Regional Analysis
9.1. Global Snack Food Market, 2019, By Region, Value ($ Billion)
9.2. Global Snack Food Market, 2015-2019, 2023F, 2025F, 2030F, Historic And Forecast, By Region
9.3. Global Snack Food Market, Growth And Market Share Comparison, By Region

10. Snack Food Market Segmentation
10.1. Global Snack Food Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Potato Chips
• Popcorn
• Processed Snacks
• Other Snack Food

10.2. Global Snack Food Market, Segmentation By Distribution Channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Supermarkets/Hypermarkets
• Convenience Stores
• E-Commerce
• Others

10.3. Global Snack Food Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Extruded Snacks
• Non-extruded Snacks

10.4. Global Snack Food Market, Segmentation By Flavour, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

• Salty
• Tangy
• Spicy
• Others

11. Snack Food Market Metrics
11.1. Snack Food Market Size, Percentage Of GDP, 2015-2023, Global
11.2. Per Capita Average Snack Food Market Expenditure, 2015-2023, Global

Companies Profiled

• Calbee Inc.
• ConAgra Foods Inc.
• Ferrero S.p.A.
• General Mills Inc.
• Nestle

For more information about this report visit https://www.researchandmarkets.com/r/ex7ajv

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