Key regions: Japan, India, China, United Kingdom, South Korea
The Snack Food market in the United States has seen a steady but negligible growth rate due to a variety of factors. These include the increasing demand for convenient and on-the-go food options, the rising awareness of healthier snack choices, and the growing popularity of online shopping for food products. Within the Confectionery & Snacks Market, Tortilla Chips, Flips & Pretzels, Potato Chips, and Cookies & Crackers are all sub-markets that contribute to the overall growth of the Snack Food market. Despite the slow growth rate, the market is expected to continue expanding as consumers seek out more convenient and healthier snacking options.
Customer preferences: As health and wellness continue to be top priorities for consumers, there has been a rise in demand for healthier snack options. This has led to the emergence of various plant-based and functional snacks, catering to dietary restrictions and specific health goals. Additionally, the influence of global cuisine and growing multiculturalism has driven the demand for exotic and flavorful snacks, showcasing the evolving palates of consumers. The trend towards snacking on-the-go and seeking convenient, yet nutritious options has also been observed, indicating a shift towards healthier snacking habits.
Trends in the market: In the United States, the Snack Food market is experiencing a shift towards healthier options, driven by consumer demand for better-for-you snacks. This trend is reflected in the rise of plant-based and protein-packed snacks, as well as the use of natural and organic ingredients. Additionally, there is a growing interest in alternative snacking options such as seaweed snacks and vegetable chips. These trends are expected to continue, posing both challenges and opportunities for industry players as they navigate changing consumer preferences and health concerns.
Local special circumstances: In the United States, the Snack Food Market within the Confectionery & Snacks Market of The Food market is heavily influenced by the country's diverse and multicultural population. With a high demand for convenience and on-the-go options, the market is dominated by snack bars, chips, and candy. However, compared to other markets, the US has a stricter regulatory environment, leading to a variety of healthier snack options and a growing demand for organic and non-GMO products. Additionally, the country's large millennial population is driving the market towards more innovative and unique snack offerings, such as plant-based snacks and functional snacks with added health benefits.
Underlying macroeconomic factors: The Snack Food Market of the Confectionery & Snacks Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending, population growth, and changing dietary preferences. In the United States, for example, the increasing demand for healthier snack options has been driven by growing health consciousness among consumers and government initiatives promoting healthy eating habits. Additionally, the rise in disposable income and changing lifestyles have led to a higher demand for on-the-go, convenient snack options, further driving market growth. On a global scale, the growing population and rising urbanization rates are expected to continue fueling demand for snack foods, especially in emerging economies. However, factors such as inflation, economic downturns, and trade policies can also impact the market's performance.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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