Key Takeaways
- The global CPG snack food market was valued at USD 503.84 billion in 2022 and is projected to reach USD 812.10 billion by 2030, growing at a CAGR of 6.2% from 2023 to 2030.
- In the US, the savory snacks category reached USD 47.5 billion in retail sales for 2023, marking a 4.2% increase from 2022.
- The global healthy snacks market size was estimated at USD 97.37 billion in 2023 and is expected to grow at a CAGR of 6.9% from 2024 to 2030.
- 62% of US consumers snack at least once a day in 2023, up from 58% in 2022.
- 45% of global consumers prefer healthier snack options like nuts and yogurt in 2023 surveys.
- In the US, 71% of millennials snack between meals daily, driving 35% of total snack consumption.
- New snack product launches featuring high-protein formulations rose 28% globally in 2023.
- Keto-friendly snacks captured 15% of new US introductions in 2023, up from 9% in 2021.
- Vegan cheese puffs launched 42 new SKUs in Europe during 2023.
- E-commerce sales accounted for 22% of total US snack food sales in 2023, up 15% YoY.
- Convenience stores captured 28% of global savory snacks volume in 2023.
- Walmart held 25.4% share of US snack sales through its hypermarkets in 2023.
- PepsiCo held 24.1% market share in global savory snacks in 2023.
- Mondelēz International captured 15.2% of worldwide snack food revenue in 2023.
- Kellogg's (now Kellanova) savory snacks US share at 18.7% in 2023.
The global snack industry is huge and growing, fueled by health trends and bold flavors.
Companies & Competition
- PepsiCo held 24.1% market share in global savory snacks in 2023.
- Mondelēz International captured 15.2% of worldwide snack food revenue in 2023.
- Kellogg's (now Kellanova) savory snacks US share at 18.7% in 2023.
- Mars Inc. chocolate snacks global share 12.4% for 2023.
- Frito-Lay (PepsiCo) dominated US chips with 59% market share in 2023.
- Nestlé's snack division revenue USD 18.5 billion globally in 2023.
- Utz Brands acquired 3 competitors boosting US pretzel share to 22% in 2023.
- Calbee Inc. held 28% of Japan savory snacks market in 2023.
- Hershey Co. salty snacks entry captured 4.2% US share in first year 2023.
- Conagra Brands frozen snacks revenue up 11% to USD 2.1 billion in 2023.
- Snyder's-Lance (Campbell) 14.5% US snack nuts share in 2023.
- Ferrero Group acquired Wells Enterprises, adding 8% to US snack portfolio 2023.
- Pringles (Kellanova) global volume share 11.8% in stacked chips 2023.
- Bimbo Group Latin America snacks leader with 26.3% share in 2023.
- Lay's (PepsiCo) India market share 45% in potato chips 2023.
- Kind LLC (Mars) US nut bar share 19.2% in 2023.
- Popchips Inc. grew US share to 7.4% in baked snacks 2023.
- Blue Diamond Growers almond snacks 23% North America share 2023.
- Takis ( Barcel ) US spicy snacks 9.1% share growth in 2023.
Companies & Competition Interpretation
Consumer Behavior & Preferences
- 62% of US consumers snack at least once a day in 2023, up from 58% in 2022.
- 45% of global consumers prefer healthier snack options like nuts and yogurt in 2023 surveys.
- In the US, 71% of millennials snack between meals daily, driving 35% of total snack consumption.
- 38% of European consumers seek low-sugar snacks, with 25% increase in demand since 2020.
- Asia-Pacific consumers aged 18-34 show 52% preference for spicy flavor snacks in 2023.
- 55% of US parents buy snacks for children weekly, prioritizing portion-controlled packs.
- Globally, 67% of consumers read nutrition labels on snacks before purchase in 2023.
- In Brazil, 49% of urban consumers snack while working from home, up 30% post-pandemic.
- 42% of Gen Z worldwide choose plant-based snacks, compared to 28% of boomers.
- UK consumers report 60% increase in snacking frequency due to hybrid work in 2023.
- 73% of US Hispanic consumers prefer bold, ethnic-flavored snacks like sriracha or tajin.
- Globally, 51% of women prefer chocolate-coated snacks vs 39% of men in 2023 surveys.
- In India, 65% of consumers snack on-the-go daily, favoring extruded products.
- 48% of Australian consumers avoid artificial ingredients in snacks, per 2023 polls.
- US consumers aged 55+ snack 3.2 times daily on average, focusing on savory options.
- 57% of Chinese urban millennials pair snacks with beverages during meals.
- Mexico sees 44% of consumers preferring baked over fried snacks for health reasons.
- 69% of global online shoppers compare snack prices via apps before buying.
- In France, 53% of consumers snack in evenings, with cheese crisps gaining 20% popularity.
- 40% of South Korean consumers experiment with fusion snack flavors monthly.
- US low-income households increased snack spending by 12% in 2023 despite inflation.
- 66% of Japanese consumers prefer individually wrapped snacks for portion control.
Consumer Behavior & Preferences Interpretation
Market Size & Growth
- The global CPG snack food market was valued at USD 503.84 billion in 2022 and is projected to reach USD 812.10 billion by 2030, growing at a CAGR of 6.2% from 2023 to 2030.
- In the US, the savory snacks category reached USD 47.5 billion in retail sales for 2023, marking a 4.2% increase from 2022.
- The global healthy snacks market size was estimated at USD 97.37 billion in 2023 and is expected to grow at a CAGR of 6.9% from 2024 to 2030.
- Europe's snack food market generated revenue of EUR 120.5 billion in 2023, with an expected CAGR of 4.8% through 2028.
- Asia-Pacific snack market volume reached 10.2 million metric tons in 2023, projected to grow at 5.5% CAGR to 2029.
- The US potato chips segment alone accounted for USD 9.8 billion in sales in 2023, up 3.1% YoY.
- Global extruded snacks market size was USD 85.2 billion in 2022, forecasted to hit USD 132.4 billion by 2032 at 4.5% CAGR.
- Latin America snack food market revenue stood at USD 25.6 billion in 2023, with 6.1% CAGR projected to 2030.
- The organic snacks market in North America grew to USD 12.4 billion in 2023, at 8.2% CAGR since 2018.
- Global nuts and seeds snacks market valued at USD 45.3 billion in 2023, expected CAGR 7.1% to USD 78.9 billion by 2032.
- US tortilla chips sales hit USD 6.7 billion in 2023, representing 14% of total savory snacks market.
- The plant-based snacks market globally reached USD 8.9 billion in 2023, projected 11.4% CAGR to 2030.
- Middle East & Africa snack market revenue USD 18.2 billion in 2023, CAGR 5.9% forecast to 2029.
- Premium snacks segment in the US grew 7.5% in 2023 to USD 15.3 billion in sales.
- Global popcorn market size was USD 10.5 billion in 2023, expected to reach USD 16.8 billion by 2031 at 6.0% CAGR.
- Canada snack food market valued at CAD 8.4 billion in 2023, with 4.9% CAGR to 2028.
- The gluten-free snacks market worldwide hit USD 4.2 billion in 2023, growing at 9.8% CAGR.
- Australia/New Zealand savory snacks market revenue AUD 3.1 billion in 2023, CAGR 5.2%.
- US pretzels sales reached USD 1.9 billion in 2023, up 2.8% from prior year.
- Global savory snacks market projected to grow from USD 245 billion in 2023 to USD 380 billion by 2033 at 4.5% CAGR.
Market Size & Growth Interpretation
Product Categories & Innovation
- New snack product launches featuring high-protein formulations rose 28% globally in 2023.
- Keto-friendly snacks captured 15% of new US introductions in 2023, up from 9% in 2021.
- Vegan cheese puffs launched 42 new SKUs in Europe during 2023.
- Air-fried vegetable crisps saw 35% innovation growth in Asia-Pacific markets in 2023.
- Functional snacks with probiotics entered 22% of new product claims worldwide in 2023.
- Low-carb tortilla chips variants increased by 18 SKUs in North America in 2023.
- Seaweed-based snacks launched 150+ products globally, focusing on savory flavors in 2023.
- Collagen-infused snack bars hit 12% of protein bar innovations in the US in 2023.
- Spicy-sweet hybrid flavors appeared in 29% of new extruded snack launches in 2023.
- Mushroom jerky products grew 50% in new introductions in 2023 across US and EU.
- Zero-sugar gummy snacks saw 40 new SKUs in Brazil and Mexico combined in 2023.
- Cricket flour snacks debuted 25 products in Europe, emphasizing sustainability in 2023.
- Turmeric-spiced popcorn variants launched 18 times in India in 2023.
- Hydration-enhanced snack bars with electrolytes rose 22% in new products in 2023.
- Upcycled ingredient snacks like chickpea puffs increased 31% in launches in 2023.
- Matcha-flavored nuts entered 15% of premium nut snack innovations in Asia 2023.
- Bone broth snack sticks launched 10 SKUs targeting keto dieters in US 2023.
- Adaptogen-infused trail mixes saw 28 new products in wellness channels 2023.
- Lentil-based chips grew 45% in new flavor variants in Australia 2023.
Product Categories & Innovation Interpretation
Sales Channels & Distribution
- E-commerce sales accounted for 22% of total US snack food sales in 2023, up 15% YoY.
- Convenience stores captured 28% of global savory snacks volume in 2023.
- Walmart held 25.4% share of US snack sales through its hypermarkets in 2023.
- Online grocery platforms saw 35% growth in snack category orders in Europe 2023.
- Dollar stores in US increased snack sales by 12% to USD 8.2 billion in 2023.
- Vending machines dispensed 15% of workplace snacks in Asia-Pacific in 2023.
- Club stores like Costco drove 18% of bulk snack purchases in North America 2023.
- Drugstores accounted for 9% of US healthy snacks distribution in 2023.
- Amazon captured 14.7% of total US online snack sales in 2023.
- Mass merchandisers saw 6.2% decline in snack traffic but 4% sales growth in 2023 US.
- Foodservice channels contributed 12% to global snack revenue in 2023.
- Independent grocers held 22% snack shelf space in rural US markets 2023.
- Direct-to-consumer snack brands grew 28% via DTC sites in 2023.
- Gas stations sold USD 4.5 billion in snacks across US in 2023.
- Supermarkets dominated with 42% of Europe snack sales volume in 2023.
- Meal kit services integrated snacks, boosting 10% category penetration in 2023.
- Pop-up retail for snacks generated USD 1.2 billion in trials sales US 2023.
- Wholesale clubs saw 7.8% uplift in organic snack distribution 2023.
- Export of US snacks to China rose 19% via e-commerce in 2023.
Sales Channels & Distribution Interpretation
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