Global Processed Snacks Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

The Processed Snacks Market report has been segmented on the basis of snack-type, sales channel, and region.

Global Processed Snacks Market: Overview

“The Processed Snacks Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Processed food can be defined as a kind of food that is altered in terms of taste, texture, or changing it from one form to another form. A processed snack is obtained by changing its original form by adopting various processes such as drying, cooking, freezing, salting, smoking, canning, pickling, and baking during preparation.

Global Processed Snacks Market: Dynamics

Increasing population across the globe and rising disposable income are some of the major factors projected to drive the growth of the processed snacks market.

In addition, the growing consumption of convenience food among the working population, owing to their busy schedule of work is a factor expected to support the revenue growth of the target market. New entrants are launching a new range of healthy snack food products in order to compete with the existing players in the market.

For instance, Indian-based industrial conglomerate company RP–Sanjiv Goenka Group announced its entry into the FMCG business by launching snack foods series called ‘Too Yumm’ and according to the company, these products are ‘baked not fried and have approximately ‘40% fewer fats’ which makes it as a healthier snack option.

key trends observed in the global market are the availability of snack food in various savory and fruit flavors.

However, fluctuating cost of various raw materials used such as potatoes, nuts, corns, etc. is one of the key factors expected to hamper the global market growth.

In addition, some of the manufacturers use preservatives in their snack food products to extend the shelf life, and excessive consumption of such products may cause severe health issues, which is another factor projected to challenge the growth of the target market.

Global Processed Snacks Market: Segmental Analysis

Among the snack types segment, the segment of the sweet snack is projected to account for significant shares of the global market, in terms of revenue. This can be attributed to the growing consumption of bakery items, confectioneries, and other related sweet snacks among the youth population, especially kids.

Among the sales channel segments, the supermarkets and hypermarkets segment is expected to register significant growth, which can be attributed to the availability of the multiple variants of processed snack food in a single place.

Global Processed Snacks Market: Regional Analysis

The Asia Pacific is expected to dominate the processed snacks market and continue its dominance during the forecast. This is attributed to the strong presence of food processing units in the region.

In addition, the growing base of the working population, especially the women populace is creating a huge demand for ready-to-eat and on-the-go food products, owing to their busy lifestyles.

This is a factor expected to support the revenue growth of the target market. North America is expected to account for significant shares of the processed snacks market over the forecast period. This is owing to the growing consumption of convenience food and healthy snacks.

Furthermore, increasing awareness regarding the benefits associated with healthy food consumption is another factor expected to propel the target market growth.

Global Processed Snacks Market Segmentation:

Segmentation by Snacks Type:

• Sweet Snacks
• Savory Snacks

Segmentation by Sales Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Independent Retailers
• Online Retailers
• Specialist Retailers

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa