Key regions: Philippines, South Korea, Canada, Japan, China
The Confectionery & Snacks Market within The Food market in Americas has been experiencing slow growth due to several factors, such as changing consumer preferences, increasing health awareness, and competition from healthier snack options. Despite this minimal growth, the market is still driven by convenience and indulgence.
Customer preferences: Consumers in the Confectionery & Snacks Market within The Food market are increasingly shifting towards healthier snacking options, driven by growing awareness of the health risks associated with excessive sugar and fat consumption. This trend has led to the rise of plant-based and functional snacks, as well as the use of alternative sweeteners. Additionally, there is a growing demand for snacks that cater to specific dietary needs, such as gluten-free, vegan, and keto-friendly options. This shift towards healthier snacking is also influenced by the rising focus on wellness and mindful eating among consumers.
Trends in the market: In the Americas, the Confectionery & Snacks Market within The Food market is seeing a shift towards healthier snacking options. This trend is driven by increasing health consciousness among consumers, leading to a demand for snacks that are low in sugar, calories, and artificial ingredients. This trajectory is expected to continue, with more companies investing in developing and promoting healthier snacks. This trend also has implications for industry stakeholders, as they must adapt their product offerings to meet changing consumer preferences and stay competitive in the market. Additionally, this trend presents opportunities for collaboration with health and wellness brands to create new and innovative healthier snacking options.
Local special circumstances: In Brazil, the Confectionery & Snacks Market within The Food market is heavily influenced by the country's cultural preference for sweet and savory snacks. The diverse population has different snack preferences, leading to a wide variety of snack options available in the market. Additionally, the country's regulatory environment allows for innovative and unique snack products, such as acai bowls and tapioca snacks, to thrive. This cultural and regulatory combination creates a dynamic market for confectionery and snacks in Brazil, catering to the diverse tastes of its population.
Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in the Americas is heavily influenced by macroeconomic factors such as consumer spending, economic stability, and trade policies. Countries with strong economic growth and stable political climates tend to have higher demand for indulgent snacks and treats. Additionally, fluctuations in commodity prices and currency exchange rates can impact production costs and ultimately affect product pricing and profitability. Moreover, changing dietary preferences and health consciousness among consumers are driving the demand for healthier snacking options, leading to innovation and diversification in the market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
