Snack sales are expected to reach an approximate market valuation of US$ 835.8 billion by the end of 2033 from their current global revenue of US$ 507.2 billion in 2023. The worldwide snack market is anticipated to grow at a 5.1% CAGR over the following ten years.
Over the next several years, it is anticipated that the shipping of snacks will be significantly influenced by the growing global population and the rising demand for packaged and convenient foods. Other factors that could change snack food consumption trends through 2033 include shifting consumer preferences, an emphasis on healthy eating, an increase in demand for foods created with organic and natural ingredients, high per capita disposable income, and globalization.
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Competitive Landscape:
Prime snack providers are focusing on mergers, acquisitions, and collaborations to expand their business scope across various regions and gain a competitive advantage over other companies.
In December 2022, Agthia, a UAE-based food and beverages group announced that it had completed the acquisition of a 60% stake in Abu Auf, a company specializing in the manufacture of healthy snacks and coffee products in Egypt. Abu Auf founders retained a stake of 30% and the outstanding 10% stake is held by Tanmiya Capital.
In August 2022, mondelez international Inc., an American food and beverage company announced the completion of its acquisition of Clif Bar & Company, a leading provider of energy bars with organic ingredients in the United States. This acquisition took Mondel?z International’s snack business valuation beyond the US$ 1 billion mark.
Key Players:
Britannia Industries LimitedNestle S.ALotus Bakeries N.VIntersnack Group GmbH & Co. KGConagra Brands Inc.National Biscuit Industries LTD SAOGDanoneKraft Foods Group Inc.Campbell Soup CompanyITC LimitedMondelez International Inc.Mars IncorporatedPepsiCoKellogg’sGeneral Mills Inc.Calbee Inc.Get Customization on this Report Specific Research Solutions:
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Regional Analysis:
There is a significant demand for low-calorie foods and healthy snacks as a result of the increased attention on health caused by the rising frequency of chronic diseases. A fresh demand for healthy snacks has been created by the popularity of veganism and plant-based diets in numerous European nations, which is encouraging snack manufacturers to introduce novel and creative foods.
Many Asian nations, including India, Korea, Japan, and China, have seen an increase in globalization and the influence of Western culture. Over the next 10 years, dietary habits are expected to change, per capita disposable income will rise, convenience food consumption will increase, and the number of working women will increase. These and other factors will affect the shipping of snack foods to Japan, Korea, and other Asian nations. Nearly all Asian nations are expected to enjoy rice cakes and pork rinds as appetizers.
Key Segments of Industry:
By Product Type :Nuts & SeedsCookies & BiscuitsMeat SnacksCereal BarsSalty SnacksOther SnacksBy Nature:Organic SnacksConventional SnacksBy Source :WheatMaizeRyeRiceFruits & VegetablesMeat SnacksOther SourcesBy Sales Channel :Modern TradeConvenience StoresOnline StoresDepartmental StoresSpecialty StoresDrug StoresOther Sales ChannelsFor More in-depth competitive analysis, Buy Now:
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