Snacks Market Is Set To Reach US$ 835.8 Billion By 2033

worldwide sales of snacks stand at a revenue of US$ 507.2 billion In 2023 and are projected to reach an approximate market valuation of US$ 835.8 billion by the end of 2033. Over the course of the next ten years, the global snacks market is forecasted to evolve at 5.1% CAGR.

Fact.MR, in its latest business intelligence study, depicts the nuts and bolts of the global Snacks market. The report presents detailed information regarding the drivers, restraints, opportunities and trends affecting markt growth.

Each segment along with its sub-segment is analyzed in terms of value and volume. Further, the report elaborates the market behavior of each vendor operating in the Snacks market.

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Key findings of the Snacks market study:

•          Regional breakdown of the Snacks market based on predefined taxonomy.
•          Innovative manufacturing processes implemented by Snacks vendors in detail.
•          Region-wise and country-wise fragmentation of the Snacks market to grasp the revenue, and growth outlook in these areas.
•          Changing preferences among consumers across various regions and countries.
•          Factors (Positive and Negative) impacting the growth of the global Snacks market.

Key Companies Profiled

• Britannia Industries Limited
• Nestle S.A
• Lotus Bakeries N.V
• Intersnack Group GmbH & Co. KG
• Conagra Brands Inc.
• National Biscuit Industries LTD SAOG
• Danone
• Kraft Foods Group Inc.
• Campbell Soup Company
• ITC Limited
• Mondelez International Inc.
• Mars Incorporated
• PepsiCo
• Kellogg’s
• General Mills Inc.

Competitive Landscape

Prime snack providers are focusing on mergers, acquisitions, and collaborations to expand their business scope across various regions and gain a competitive advantage over other companies.

• In December 2022, Agthia, a UAE-based food and beverages group announced that it had completed the acquisition of a 60% stake in Abu Auf, a company specializing in the manufacture of healthy snacks and coffee products in Egypt. Abu Auf founders retained a stake of 30% and the outstanding 10% stake is held by Tanmiya Capital.
• In August 2022, mondelez international Inc., an American food and beverage company announced the completion of its acquisition of Clif Bar & Company, a leading provider of energy bars with organic ingredients in the United States. This acquisition took Mondel?z International’s snack business valuation beyond the US$ 1 billion mark.

Snack food manufacturers are also focusing on deploying innovative market strategies and tactics that enable them to attract more customers and increase their revenue generation potential.

• In May 2022, Kellogg’s, a leading producer of ready-to-eat food products launched a new look for its snack range. The new packaging is aimed at reforming the product’s on-shelf appeal and is designed in collaboration with Landor & Fitch, a leading brand consulting firm.

Key Segments Covered in Snacks Industry Research

• By Product Type :
• Nuts & Seeds
• Cookies & Biscuits
• Meat Snacks
• Cereal Bars
• Salty Snacks
• Other Snacks
• By Nature:
• Organic Snacks
• Conventional Snacks
• By Source :
• Wheat
• Maize
• Rye
• Rice
• Fruits & Vegetables
• Meat Snacks
• Other Sources
• By Sales Channel :
• Modern Trade
• Convenience Stores
• Online Stores
• Departmental Stores
• Specialty Stores
• Drug Stores
• Other Sales Channels
• By Region :
• North America
• Latin America
• Europe
• APAC
• MEA

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Queries addressed in the Snacks market report:

•          Why are the Smart Meter Data Manag ement market players targeting region for increased product sales?
•          What patented technologies are the players utilizing in the global Snacks market?
•          Which regions are displaying the fastest growth in the Snacks market?
•          What are the underlying micro- macroeconomic factors affecting the global Snacks market?

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