Welcome to our blog post delving into the fascinating world of Snack Industry Statistics. In this article, we will explore the latest trends, consumer preferences, and market insights shaping the snack industry today. Join us as we uncover the data behind the snacks we love and how this industry continues to evolve.
The Latest Snack Industry Statistics Explained
The global snack bar market is projected to grow at a CAGR of 6.45% during the period 2021-2026.
This statistic indicates that the global snack bar market is expected to experience a Compound Annual Growth Rate (CAGR) of 6.45% between 2021 and 2026. This means that on average, the market size for snack bars worldwide is predicted to increase by 6.45% annually over this 5-year period. This growth rate signifies a positive trend in consumer demand for snack bars, potentially driven by factors such as changing dietary preferences, increasing health consciousness, and growing convenience food consumption. Companies operating in this market may use this projection to make informed decisions about investment, product development, and market strategies in order to capitalize on the anticipated market expansion in the coming years.
The frozen snack food industry was worth $9.86 billion in 2020.
The statistic indicates that the frozen snack food industry had a total market value of $9.86 billion in the year 2020. This figure represents the combined revenue generated from sales of various frozen snack products such as frozen pizza, appetizers, and ice cream treats. The industry’s worth reflects the demand and consumption patterns of consumers for convenient and ready-to-eat frozen snack options. The statistic provides insight into the significant size and economic impact of the frozen snack food sector, highlighting its importance in the overall food industry and consumer market.
The savory snacks market in Asia-Pacific reached a value of US$51.1 Billion in 2018.
The statistic stating that the savory snacks market in Asia-Pacific reached a value of US$51.1 billion in 2018 indicates the total monetary worth of the market for savory snacks, such as chips, crisps, and crackers, across the Asia-Pacific region during that year. This figure serves as a quantitative measure of the economic significance and scale of the savory snacks industry in the region, highlighting the substantial consumer demand and market size for these products. By providing a snapshot of the market value, this statistic offers valuable insights for businesses, policymakers, and industry analysts looking to understand the growth potential, trends, and competitive landscape within the savory snacks market in Asia-Pacific.
By type, the chips segment accounted for the largest share of the US snack food industry, garnering nearly one-third of the market in 2020.
In 2020, within the US snack food industry, the chips segment held the largest market share, capturing nearly one-third of the total market. This indicates that chips were the most popular type of snack food consumed in the United States during that year. The statistic suggests that consumers have a strong preference for chips over other snack options such as cookies, nuts, pretzels, or popcorn. The dominance of the chips segment highlights the significant role this product category plays in the overall snack food industry landscape and underscores the importance of understanding consumer preferences and trends within the market.
India’s snack market will be worth INR 1,385 billion by 2023.
The statistic stating that India’s snack market will be worth INR 1,385 billion by 2023 indicates the estimated value of the snack industry in India in terms of Indian Rupees. This figure represents the projected revenue generated from the sale of various snacks across the country by the year 2023. Such a statistic is valuable for investors, businesses, policymakers, and market analysts to understand the size and potential growth of the snack market in India. It suggests a significant opportunity for market expansion and profitability within the snack industry in India, highlighting the consumer demand and market prospects for snack products in the upcoming years.
The snack food industry produces around 284 million metric tons of product per year.
The statistic that the snack food industry produces around 284 million metric tons of product per year indicates the significant scale and impact of this industry globally. This large production volume highlights the high demand for snack foods across various markets and the substantial resources dedicated to meeting this demand. The impressive quantity also underscores the importance of the snack food industry in terms of economic contributions, employment opportunities, and overall consumer preferences. Moreover, such a massive production volume may also have implications for sustainability and environmental concerns, given the large amount of resources and potential waste associated with the production and distribution of snack foods.
Millennials are the biggest snack food growth opportunity market, with 3 out of 4 millennials reporting they’re willing to pay extra for high-end snacks.
The statistic indicates that millennials represent a significant growth opportunity market for snack food companies as 3 out of 4 millennials are willing to pay a premium for high-end snacks. This suggests that millennials value quality, taste, and perhaps novelty when it comes to snack foods, and they are willing to spend more money to satisfy their preferences. Companies in the snack food industry could capitalize on this trend by developing and marketing higher-end snack products that cater to the expectations and demands of millennial consumers, potentially increasing their market share and profitability within this demographic.
The survey revealed that 40% of the snacks consumed are healthier snacks such as fruit, protein bars, and yogurt.
The statistic indicates that out of all the snacks consumed, 40% are classified as healthier options, such as fruit, protein bars, and yogurt. This suggests that a significant portion of the snacks chosen by the surveyed individuals are nutritious and support a healthier lifestyle. By identifying the proportion of healthier snacks consumed, this statistic provides insights into the dietary choices and preferences of the population under study. It implies that there is a notable preference towards nutritious snack options among the surveyed individuals, which can be valuable information for health promotion and education efforts aimed at improving overall dietary habits and health outcomes.
As of 2019, North America’s snack food market amounted to about 56.4 billion U.S. dollars.
The statistic stating that North America’s snack food market amounted to approximately 56.4 billion U.S. dollars as of 2019 indicates the total value of snack food products sold within the region within that year. This figure reflects the significant size and economic importance of the snack food industry in North America, encompassing various categories such as chips, cookies, candies, and other popular snacks consumed by individuals in the region. The data provides insights into consumer behavior and preferences, as well as the overall market dynamics, including competition among snack food manufacturers and retailers. It serves as a valuable indicator for businesses, policymakers, and investors looking to understand and analyze the performance and trends within the North American snack food market in 2019.
According to Nielsen, salty snacks are the largest snack category in the U.S., with sales of $27.7 billion in 2015.
The statistic provided by Nielsen highlights the significant popularity and market dominance of salty snacks within the United States. With sales totaling $27.7 billion in 2015, salty snacks emerged as the leading category in the snacking industry. This information suggests that consumers in the U.S. have a strong preference for salty snacks over other types of snacks such as sweet or savory options. The substantial sales figure also underscores the economic importance of salty snacks within the food and beverage sector, indicating a lucrative market opportunity for manufacturers and retailers aiming to capitalize on this prevailing consumer demand.
The estimate for the global snack food market value in 2021 is about 594.42 billion U.S dollars.
The statistic stating that the estimate for the global snack food market value in 2021 is about 594.42 billion U.S dollars indicates the projected economic value of the snack food industry worldwide for that year. This figure represents the total revenue generated by the sales of various snack products across different markets and regions globally. Such statistics are derived from market research and data analysis, including factors like consumer spending habits, production costs, and market trends. The significance of this statistic lies in understanding the size and importance of the snack food market on a global scale, which impacts various stakeholders such as producers, retailers, and consumers in the food industry.
There is an expected growth of 5% in the snack food industry during the forecast period of 2020-2025.
The statistic suggesting an expected growth of 5% in the snack food industry during the forecast period of 2020-2025 indicates that industry analysts anticipate a steady increase in the market size and revenue generated within this sector. This projected growth rate implies that the demand for snack foods is likely to rise over the next five years, creating opportunities for existing companies to expand their market share and for new entrants to enter the market. Factors driving this growth could include changing consumer preferences, innovative product offerings, and increased marketing efforts by industry players. It is also indicative of a positive outlook for the snack food industry as a whole, with the potential for sustained profitability and economic impact in the coming years.
China accounts for around 35% of the total Asia-Pacific snack market.
The statistic indicates that China holds a significant share of the total snack market in the Asia-Pacific region, amounting to approximately 35%. This means that a large portion of snack consumption and sales within the Asia-Pacific region occurs in China. The high market share suggests that China is a key player in the snack industry in the region, both as a consumer market and a producer of snacks. Companies looking to enter or expand within the Asia-Pacific snack market should take into account the sizable presence and influence of China in shaping trends, preferences, and competition within the industry.
Ultra-processed foods, including packaged snacks, account for 58% of total daily energy consumed by average Americans.
This statistic indicates that a substantial portion of the daily energy intake of the average American comes from ultra-processed foods such as packaged snacks. Specifically, 58% of the total daily energy consumed by individuals in the United States is derived from these highly processed food products. This statistic highlights the significant influence of ultra-processed foods on the American diet and raises concerns about the potential impact on health and nutrition. Consuming a high proportion of energy from ultra-processed foods may contribute to health issues such as obesity, cardiovascular diseases, and nutritional deficiencies, emphasizing the need for a greater emphasis on consuming wholesome, minimally processed foods for a more balanced diet and improved overall health outcomes.
Popcorn is wildly popular, with Americans consuming 15 billion quarts of popped popcorn annually.
The statistic stating that Americans consume 15 billion quarts of popped popcorn annually highlights the significant popularity of popcorn in the United States. This statistic indicates a widespread and consistent demand for popcorn as a snack choice among the American population. The sheer volume of 15 billion quarts underscores the extent to which popcorn plays a prominent role in American dietary habits and cultural practices. It also suggests the economic importance of the popcorn industry, serving as a key product within the snack food market. Overall, this statistic showcases the widespread appeal and enduring popularity of popcorn as a beloved snack option among Americans.
Granola bar sales have remained steady for over a decade, reaching more than $1.6 billion in 2018.
The statistic states that granola bar sales have shown consistent performance without significant fluctuations for over a decade, culminating in surpassing the $1.6 billion mark in sales in 2018. This suggests that granola bars have maintained steady consumer demand and market presence over the years, potentially indicating a stable and established position within the snack food industry. The consistent sales growth indicates that granola bars appeal to a broad consumer base and have likely established themselves as a popular and reliable snack option for many individuals. This information can be valuable for companies in the granola bar industry looking to make strategic decisions based on the market’s performance and consumer behavior patterns.
The consumption of snack foods in the UK has increased by 50% since 2013.
The statistic that the consumption of snack foods in the UK has increased by 50% since 2013 indicates a significant rise in the amount of snack foods being consumed over the last few years. This increase suggests a trend towards a higher demand for snack foods among the population, potentially driven by factors such as changing lifestyles, busy schedules, and increased availability and variety of snack options in the market. The 50% increase highlights a notable shift in eating habits and consumer preferences towards snacking, which may have implications for public health and food industry trends in the UK.
In the UK, around £2.2bn is spent annually on chocolate as a snack.
The statistic “In the UK, around £2.2bn is spent annually on chocolate as a snack” refers to the estimated total amount of money spent on chocolate specifically for snacking purposes in the UK within a one-year period. This figure indicates the significant financial investment that individuals in the UK allocate towards satisfying their snacking preferences with chocolate. With a strong chocolate-consuming culture, this statistic underscores the popularity and economic significance of chocolate consumption as a preferred snack choice among consumers in the UK. Additionally, this substantial expenditure highlights the potential impact on the economy and the confectionery industry, emphasizing the demand and consumption patterns related to chocolate as a snack in the UK.
Conclusion
The snack industry continues to thrive and evolve, with an ever-growing market and a wide variety of innovative offerings. By staying informed on the latest statistics and trends, industry professionals can make informed decisions and capitalize on the opportunities presented in this dynamic sector.
References
0. – https://www.www.ibisworld.com
1. – https://www.bmjopen.bmj.com
2. – https://www.www.expertmarketresearch.com
3. – https://www.www.statista.com
4. – https://www.www.fooddive.com
5. – https://www.www.nhs.uk
6. – https://www.www.popcorn.org
7. – https://www.thegrocer.co.uk
8. – https://www.www.foodbusinessnews.net
9. – https://www.www.mordorintelligence.com
10. – https://www.www.cstoredecisions.com
11. – https://www.www.bakeryandsnacks.com
12. – https://www.www.globenewswire.com
13. – https://www.www.marketresearch.com
14. – https://www.www.alliedmarketresearch.com
