Global Snack Food Market Share, Size, Key Players, Industry Growth | PepsiCo Inc., Conagra Brands Inc., General Mills, McCain Foods Limited, Calbee Inc.

The Snack Food Global Market Report 2023 by The Business Research Company, provides snack food market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/snack-food-global-market-report

As outlined in The Business Research Company’s comprehensive Snack Food Global Market Report 2023, the market exhibited substantial growth, progressing from $237.65 billion in 2022 to a noteworthy $256.5 billion in 2023, denoting a commendable compound annual growth rate (CAGR) of 7.9%. Notably, the landscape faced challenges amid the Russia-Ukraine conflict, impeding global economic recovery from the recent COVID-19 pandemic. The conflict precipitated economic sanctions, escalated commodity prices, and instigated supply chain disruptions, thereby fostering inflation across goods and services and exerting a pervasive impact on diverse markets worldwide. Projections indicate that the global snack food market is poised for further expansion, reaching an anticipated $333.12 billion in 2027, with a CAGR of 6.8%.

It is crucial to recognize that numerous nations are grappling with declining crop prices attributable to surplus production capacity. This phenomenon is anticipated to translate into reduced raw material costs for entities within the food and beverage sector. This cost advantage is poised to fortify profit margins for snack food manufacturing companies, facilitating enhanced productivity and serving as a catalyst for sustained market growth in the foreseeable future.

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The snack food market is segmented:

1) Snack Food Market By Type: Extruded Snacks, Non-extruded Snacks

2) Snack Food Market By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels

3) Snack Food Market By Flavour: Salty, Tangy, Spicy, Other Flavours

Top Major Players

PepsiCo Inc.

Conagra Brands Inc.

General Mills

McCain Foods Limited

Calbee Inc.