Latest News- Snack Market: Bakery products is expected to lead the Product segment during 2025-2029

The Snack Market is being driven by Rise in disposable income and change in lifestyle

The Snack Market is expected to grow at a CAGR of 7.4% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 387.9 billion. The proliferation of e-commerce has been driven by the global expansion of internet access and the growing demand for convenient, hassle-free shopping experiences. This trend presents a significant opportunity for snack suppliers to expand their sales, broaden their reach, and enhance customer relationships through online retailing. By establishing an online presence, manufacturers and distributors can increase product visibility across regions, explore new markets, and offer personalized pricing and promotions to attract and retain customers. The convenience and appeal of online shopping have made it a preferred choice for consumers, necessitating a strategic focus on e-commerce sales for businesses in the snack industry. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Bakery products
  • Chocolate
  • Savory snacks
  • Frozen snacks
  • Others
• Distribution Channel
  • Offline
  • Online
• Packaging
  • Bags and pouches
  • Boxes
  • Cans
  • Jars
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Rise in disposable income and change in lifestyle
• Evolving taste preferences
• Growing preference for savory snacks

However, the market also witnesses some limitations, which are as follows:

• Rising number of health effects
• Fluctuations in raw material costs
• Warehousing and distribution challenges of frozen snacks

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Market Scope in Snack Market Research Report

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Research Analysis Overview

In today's fast-paced world, consumers are seeking healthier and convenient snacking options. The snack market caters to this demand with a variety of choices, including savory snacks, meal replacement drinks, and frozen snacks. Lifestyle changes and health concerns have led to a preference for nutrition-rich foods, high in protein, vitamins, and nutrients. Convenience stores are stocking up on healthy alternatives, such as low-fat, low-sugar, and high-protein snacks, to meet the needs of busy consumers. Functional snacking, meal replacements, and cultural diversity are driving innovation in the snack industry, offering consumers a wide range of snacking occasions and retail channels to choose from.

Market Research Overview

The packaged snacks sector, a segment of the global packaged foods and meats market, caters to the increasing demand for convenient, allergen-free, and better-for-you options. Key players in this market focus on producing calorie-focused snacks, such as chips, in bags and pouches, extending their shelf life through advanced food processing techniques. This market growth is driven by changing lifestyles, busy schedules, and the health benefits associated with minimally processed snacks, which include calcium and essential nutrients like potassium, dietary fiber, folate, vitamin A, and vitamin C. Technavio's market analysis calculates the size of the packaged snacks market based on the combined revenue generated by vendors, excluding equipment manufacturers and packaged beverage producers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/