Snacks Market is Expected to Witness Healthy Growth at 6.5% CAGR through 2031

Global demand for snacks is expected to proliferate at a CAGR of 6.5% from 2021 to 2031, according to a recently published study by Fact.MR. By the end of the aforementioned forecast period, the market is likely to be valued at US$ 751 Billion, with consumer inclining towards organic snacks consumption. By 2021-end, demand for snacks is expected to reach US$ 400 Billion.

The Demand analysis of Snacks Market offers a comprehensive analysis of diverse features, demand, product developments, revenue generation, and sales of Snacks Market across the globe.

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Market Size Value in 2021- US$ 400 Bn
Projected Market Forecast Value by 2031- US$ 751 Bn
Global Growth Rate (2021 to 2031)- 6.5% CAGR
Market Share of India- 60%

Key Segments Covered

Product Type
Nuts & Seeds
Cookies & Biscuits
Meat Snacks
Cereal Bars
Salty Snacks
Other Snacks

Sales Channel
Snacks Sales via Modern Trade
Snacks Sales via Departmental Stores
Snacks Sales via Specialty Stores
Snacks Sales via Online Stores
Snacks Sales via Drug Stores
Snacks Sales via Convenience Stores
Snacks Sales via Other Sales Channels

Source Type
Wheat Snacks
Maize Snacks
Rye Snacks
Rice Snacks
Fruits & Vegetables
Meat Snacks
Other Sources

Nature
Organic Snacks
Conventional Snacks

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Some Notable Offerings by Fact.MR Report on Snacks market:

• We will provide you an analysis of the extent to which this Snacks market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
• We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
• Also, this report will help you to identify any trends to forecast growth rates.
• The analyzed report will forecast the general tendency for supply and demand.

Some of the Snacks Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:

• Details regarding latest innovations and development in Snacks and how it is gaining customer traction during the forecast period.
• Analysis about the customer demand of the products and how it is likely to evolve in coming years.
• Latest regulations enforced by government bodies and local agencies and their impact on Demand of Snacks Market .
• Insights about adoption of new technologies and its influence on the Snacks market Size.
• Overview of the impact of COVID-19 on Snacks Market and economic disruptions caused by the pandemic.
• Evaluates post-pandemic impact on the Sales of Snacks Market during the forecast period.

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After reading the Market insights of Snacks Report, readers can:

• Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
• Analyze key regions holding significant share of total Snacks market revenue.
• Study the growth outlook of Snacks market scenario, including production, consumption, history and forecast.
• Learn consumption pattern and impact of each end use & supply side analysis of Snacks market.
• Investigate the recent R&D projects performed by each market player & competitive analysis of Snacks Market Players.

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8 Estimations by Fact.MR’s Report for the Global Snacks Market

North America is expected to remain dominant in the global snacks market, in terms of revenues. The market in this region is projected to register the highest CAGR through 2022.

The market in Europe is expected to create an absolute $ opportunity of US$ 4,979.2 Mn between 2017 and 2022.

Biscuits will continue to be sought-after among products, with sales estimated to account for the largest revenues by 2022-end. Sales of biscuits are expected to account for more than half share of the market during the forecast period.

Sales of bars are estimated to register the fastest expansion through 2022, and will remain the second most lucrative product in the global snacks market.
Supermarkets/hypermarkets will remain the largest distribution channels for snacks.

Convenience stores will stick to their position of being the second most lucrative distribution channels for snacks during the forecast period.

Based on source, although wheat is projected to remain dominant in the global snacks market, sales of millets are estimated to register the fastest expansion through 2022.

The report identified key players actively participating in the market, which include CALBEE, Inc., Britannia Industries Limited, Lotus Bakeries NV, Mondelez International, Inc., ITC Limited, Campbell Soup Company, Nestle SA, Kraft Foods Group, Inc., Kellogs, and National Biscuit Industries Ltd SAOG.

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