Market Insights Consumer Food Confectionery & Snacks

Snack Food - South America

South America

Revenue in the Snack Food market amounts to US$12.54bn in 2024. The market is expected to grow annually by 5.76% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (US$52bn in 2024).
In relation to total population figures, per person revenues of US$30.40 are generated in 2024.
In the Snack Food market, volume is expected to amount to 3.08bn kg by 2029. The Snack Food market is expected to show a volume growth of 4.4% in 2025.
The average volume per person in the Snack Food market is expected to amount to 6.5kg in 2024.

Key regions: Japan, India, China, United Kingdom, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

The Snack Food market in South America, specifically within the Confectionery & Snacks Market, has been experiencing minimal growth. This can be attributed to various factors such as changing consumer preferences, increasing competition from other food industries, and economic instability in the region. Additionally, sub-markets such as Tortilla Chips, Flips & Pretzels, Potato Chips, and Cookies & Crackers all play a role in shaping the overall market. Despite these challenges, the convenience and indulgence offered by these snacks continue to drive demand, albeit at a slower pace.

Customer preferences: In South America, the Snack Food Market of the Confectionery & Snacks Market within The Food market has seen a surge in demand for healthier snack options. This shift is driven by changing consumer preferences towards more nutritious and natural options, as well as increasing health awareness. As a result, there has been a rise in the popularity of organic and plant-based snacks, with a focus on clean labeling and sustainable sourcing. Additionally, there is a growing trend towards functional snacks that offer added health benefits, such as energy-boosting or immune-boosting ingredients. This shift reflects the evolving lifestyle factors and cultural nuances of South American consumers towards a more health-conscious mindset.

Trends in the market: In South America, the Snack Food Market of the Confectionery & Snacks Market within The Food market is experiencing an increase in demand for healthier options. Consumers are shifting towards healthier snacks, such as organic and gluten-free options, as well as snacks made with natural ingredients. This trend is expected to continue as consumers become more health-conscious and seek out convenient and nutritious snack options. As a result, industry stakeholders are incorporating more health-focused products into their offerings and investing in innovative packaging and marketing strategies to appeal to this trend. This trajectory towards healthier snacks is significant as it presents opportunities for growth and innovation in the industry, while also potentially impacting traditional snack categories.

Local special circumstances: In South America, the Snack Food Market of the Confectionery & Snacks Market within The Food market is heavily influenced by the region's diverse cultural and geographical factors. For instance, in Brazil, the demand for healthy and convenient snack options is on the rise due to the growing health-conscious middle class. In contrast, in countries like Argentina and Colombia, traditional and indulgent snacks continue to dominate the market due to cultural preferences. Additionally, government regulations on food labeling and advertising also play a significant role in shaping the Snack Food Market in South America.

Underlying macroeconomic factors: The Snack Food Market of the Confectionery & Snacks Market within The Food market is significantly impacted by macroeconomic factors such as consumer spending power, economic growth, and government policies. Countries with strong economic growth and high consumer spending are witnessing a rise in demand for snack foods, leading to market growth. On the other hand, countries with economic instability and low consumer spending are experiencing a decline in demand for snack foods. Additionally, government policies such as taxes and regulations on food products also play a role in shaping the market. Countries with favorable policies and regulations are likely to see higher market growth compared to those with stringent regulations and taxes.

Methodology

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.