According to the Market Statsville Group (MSG), the Global Snack Foods Market size is expected to grow from USD 576.9 billion in 2023 to USD 1,103.6 billion by 2033, at a CAGR of 5.7% from 2024 to 2033.

Snack food is a variety of convenient food options, typically ready-to-eat or easy-to-prepare foods that people consume between their regular meals. Snack foods are available in various forms, including chips, cookies, nuts, fruit, yogurt, and even more health-conscious options like vegetable sticks with dip and many more. Snack foods can cater to diverse tastes and dietary preferences, and target people of all ages. The increasingly sedentary lifestyle and demand for munching snacks in modern lifestyles have increased the quintessential trend of Snacking. The snack food industry serves the world’s diversified regional cultural population which desires various flavors and textures, creating a positive outlook for the market.

The snack food market is witnessing a surge in demand due to changing consumer preferences and lifestyles. In the fast-paced world, people prefer quick and easy options for satisfying their hunger, thereby driving the market’s demand. Also, the increasing demand for readily available, with no preparation, and on-the-go snacks is majorly driving its demand for busy individuals and families. The growing trend of snacking as a social and leisure activity is another factor propelling the snack foods market. With the growing number of health-conscious consumers and an increasing focus on well-being, many individuals are seeking snacks that are tasty as well as nutritious, led to the market’s growth. This further, accelerates the development of various healthier snack alternatives, including baked snacks, vegetable chips, and low-sugar options, to cater to huge health-conscious consumers globally.

In the rapidly evolving food industry, the global snack food market faces a significant restrain in the form of increasing awareness of health concerns. As more people become conscious of their diet and overall health, there is a significant rise in consumer preference to cook healthy meals at home. Also, COVID-19 has accelerated the trend of home cooking and healthy meals across the world which significantly restricts the demand for snack food market. The globalization and surging e-commerce sector have opened up opportunities to introduce exotic and international flavors to the snack food market. Also, the growing preference for sustainably sourced and environmentally friendly products has pressured manufacturers to adopt eco-friendly food packaging, which can attract environmentally conscious consumers. For instance, in August 2023, Ahlstrom and The Paper People LLC entered into a partnership and launched an innovative and sustainable solution for frozen food packaging. The partnership launched a new line of fully fiber-based, packaging, recyclability-certified solutions used for frozen food packaging, and can be used on existing packaging equipment encompasses stand-up pouches, vertical form-fill-seal, and SOS style systems.

Snack Foods Market Segmental Analysis, 2023-2033

Based on type, the market is divided into frozen snacks, savory snacks, fruit snacks, confectionery snacks, bakery snacks, and others. The savory snacks segment dominated the market share in 2023. The savory snacks include potato chips, pretzels, crackers, nuts, and many more. This food offers different flavors, textures, and spice tastes to cater to broader consumers from children to adults. Savory snacks possess a strong convenience factor, available in convenient, single-serve packaging, on-the-go consumption, for fast-paced lifestyles where people are looking for quick and easy options thereby fostering the market’s demand. The savory snacks segment is the foremost segment that witnessed constant innovation and product diversification to be offered in new flavors and unique product variations, catering to changing consumer tastes and preferences. Whereas, the frozen snacks segment is expected to witness the highest CAGR in the snack food market during the forthcoming period. Frozen and refrigerated snacks come in different types, like vegan snacks, organic, and gluten-free, preferred by specific dietary consumers. The range of frozen snacks is increasing day by day, from pizza rolls and chicken nuggets to spring rolls and ice cream. Thus, the diverse frozen snack option attracts huge consumers to try different tastes and preferences, thereby boosting the market’s growth.

Based on the regions, the global snack foods market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. Asia Pacific accounted for the largest market share in 2023. The region’s rapid urbanization, fast-paced life, and increasing number of supermarkets are the factors that drive the regional growth in the market. The increasingly busy lifestyle leads to ready-to-eat snack options that provide a quick and accessible solution for consumers creating a lucrative demand for snacking in the region. Also, Asia’s diverse and rich culinary traditions have led to a wide variety of unique and flavorsome snack options which grab huge customers' attention, both within the region and globally, fostering the market’s growth.

Report Scope of the Global Snack Foods Market

This market research study categorizes the snack foods market-based on type, and application area at the regional and global levels.

By Type Outlook (Sales, USD Million, 2019-2033)

• Frozen Snacks
• Savory Snacks
• Fruit Snacks
• Confectionery Snacks
• Bakery Snacks
• Others

By Application Outlook (Sales, USD Million, 2019-2033)

• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Retail Stores
• Others

By Region Outlook (Sales, USD Million, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Egypt
  • Rest of MEA

Snack Foods Market Key Players, 2023

The Major key players in the global snack foods market are:

• Calbee 
• ConAgra Foods 
• General Mills 
• Grupo Bimbo
• Herr Foods
• Intersnack Knabber-Geback
• Kellogg
• Link Snacks
• Lindt & Sprungli
• Unilever Plc
• Pepsico Inc
• Nestle S.A
• Tyson Foods

Recent Developments:

• In May 2023, Flagstone Foods acquired Emerald Nuts from Campbell Soup Company, to expand its portfolio by adding snack nut brands in the United States.
• In January 2023, ITC Limited acquired Sproutlife Foods Private Limited (SFPL), a D2C health food brand Yoga Bar, a health snack company. The acquisition enhanced ITC’s product portfolio with nutrition-led healthy foods space, and a strategic investment in Sproutlife Foods Private Limited (SFPL) startup to become a clean label and new-age digital brand.
• In June 2022, Kellogg Company announced the separation of its North American cereal and plant-based foods businesses, resulting in three independent public companies - Global Snacking Co., North America Cereal Co., and Plant Co.