A snack is a small serving of food and generally eaten between meals. Snacks come in a variety of forms including packaged snack foods and other processed foods, as well as items made from fresh ingredients at home. Snack food comprises food such as chips, nuts, popcorn, peanut butter and many other varieties. In this industry, major products are potato chips, corn chips, tortilla chips, canned nuts, peanut butter, popcorn, hard pretzels, roasted nuts and seeds.
From ancient times, light foods or leftovers were consumed between meals. These tended to be natural, sweet foods that required little or no preparation, such as grapes, figs, or apples. In nineteenth-century America, interest in snack foods shifted from natural foods to prepared commercial foods, with a high salt and sugar content. It is these processed foods that are considered snack foods in the early twenty-first century. Homemade pretzels were probably sold for centuries before they were first commercially produced in 1861. Pretzels did not become an important national snack until the 1930s, when a machine was invented to automate production. Recipes for potato chips appeared in the early nineteenth century and became popular in the 1920s, when Laura Scudder asked employees to iron two pieces of wax paper to form a bag. The leaders in terms of Snack Market Share are Pepsico, Mondelez, and Mars. You can find Snack Market Size, Snack Market Share, and other trends and statistics below and you can learn more about T4's strategy consulting services here.
The chart shows the Snack Market Size from 2020 to 2023. In 2020, the size of the Snack Industry was $171B and is projected to grow 4% in 2021. From 2020 to 2023 the Snack Industry growth is projected to average 4% per year. Over 20% Snack market share belongs to the top 4 vendors. These estimates were made before the Coronavirus (COVID-19) pandemic. The short term impact of COVID-19 on the Snack market growth will likely be Beneficial because as consumers face the prospect of weeks at home, retailers are reporting a move away from reduced calorie and sugar free snacks in favor of non-perishable and long-lasting options. Snack brands are all seeing an unexpected demand for their products. The long term impact of COVID-19 on the Snack market growth beyond the COVID-19 pandemic will likely be Medium because In the long term, when people return to their normal activities, it is likely that people will look for healthier and reduced calories options, leading to a decrease in the demand of snack foods. Request help with obtaining the source for this data and learn more about T4's strategy consulting services here.
The chart shows Snack Market Share in 2018. The Snack Market is Highly Fragmented among many vendors. The leading Vendor in the Snack Industry was Pepsico with 7% market share in 2018, followed by Mondelez with 7% Snack market share, Mars with 4.9% Snack market share, Unilever with 3.9%, Nestlé with 3.6%, Ferrero with 2.6%, Hershey with 1.9%, Kellog with 1.4%, General Mills with 1.3%. Get help with market research for the Snack market, including the source for this Snack Market Share chart and learn more about T4's strategy consulting services here.
Improving consumer lifestyle, rapid urbanization, and high disposable income are all increasing demand for on the go convenience foods, thereby fuelling the ready-to-eat food market growth. The changing eating habits of the majority of consumers is driving the snack industry to diversify and innovate in the offer of healthier snack options in the face of global concerns over the rise in obesity and other health disorders. Changing food consumption behavior among consumers, increased willingness to spend on such food and the lack of time to cook at home are a result of the rapid urbanization. Urbanization also helps in increasing the disposable income, which increases the food expenditure of the final consumer. Currently, ready-to-eat food is the largest segment in the overall conventional and non-conventional food industry. Other growth drivers are related to innovative products in healthier ingredients, convenience, and organic foods and sustainable packaging.Learn about T4's Consulting services
The Snack Industry is a Mature market composed of many competitors. Pepsico market share was 7.1% of the Snack market in 2018. Pepsico snacks are available in more than 200 countries. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands. The main snack brands are Frito-Lays, Doritos, Quaker Oats, Cheetos, Tostitos, and others. Mondelez market share was 7% of the Snack market in 2018. Mondelez primarily sells snacks, including biscuits (cookies, crackers and salted snacks), chocolate, gum & candy as well as various cheese & grocery and powdered beverage products. Mondelez snacks are available in 150 countries around the world. The main snack brands are Cadbury, Alpen Gold, Barni, Chips Ahoy!, Club Social, and others. Mars market share was 4.9% of the Snack market in 2018. Mars snacks are available in 80 countries around the world. The main snack brands are MasterFoods, KanTong, Ebly, Dolmio, Pamesello, Uncle Ben´s, and others. Unilever market share was 3.9% of the Snack market in 2018. Unilever snacks are available in 190 countries around the world. There are more than 400 Unilever brands across several categories such as, Food & Beverages, Home Care, Beauty Care and more. The main snack brands are Breyers, Cornetto, Hellman´s, Lipton, Knorr, Pure Leaf, and Arisco.
T4's research team can help you learn more about the Snack industry with market analysis, competitive analysis, commercial Due Diligence, and other market research needs. This includes deeper analysis on competitors in the Snack market, including: Kelloggs, Pepsico, Nestlé, Unilever, Mars, Hershey, Ferrero; research into related topics such as Food & Beverages, Restaurants, Bars, Fast Food, Supermarkets/Hypermarkets, Convenience Stores, Online Retail Stores, Sustainable Packaging; or additional support in the Food & Beverages, Retail, Confectionery Sector or other Sectors. Learn more about T4's strategy consulting services here.