Increasing Disposable Income and Hectic Schedules Drive the Demand for On-The-Go Foods, Propelling the Processed Snacks Market

Introduction

The processed snacks market is expected to observe significant growth in the coming years, backed by the increasing preference for on-the-go foods. As consumer eating habits are changing and purchasing power is rising, individuals are demanding more portable and less perishable food items. However, growing health concerns regarding the consumption of these snacks are likely to hinder market growth to some extent. Nevertheless, increasing R&D activities for the introduction of healthier snacks is anticipated to augment the processed snacks market in years to come.

Impact of COVID-19

Unlike most of the segments in the food and beverage industry, the processed food segment has been observing an upward shift in the demand curve in the last few months. This is primarily due to the rising demand for ready-to-cook foods and snacks that are significantly consumed by individuals working from home. However, movement restrictions due to the pandemic have also limited the movement of goods around the globe, resulting in disruption of the supply chain and subsequent production losses. The breakdown of supply chains has further created hurdles for the companies to meet the rising demand for processed food. This crisis has compelled manufacturers to adopt new business models across their distribution channels, leading to further engagement with e-commerce suppliers for the better and faster delivery of products.

Competitive Players

Processed Snacks Market: Key Players

• Aviko B.V.
• Calbee, Inc.
• General Mills, Inc.
• Hormel Foods Corporation
• Intersnack Group
• Kellogg Company
• McCain Food Limited
• Tyson Foods, Inc.
• Arca Continental, S.A.B. de C.V.
• Blue Diamond Growers
• Burts Potato Chips Ltd
• Conagra Brands, Inc
• The Hain Celestial Group, Inc.
• Haldiram Foods International Pvt Ltd
• Herr Foods, Inc
• The Kraft Heinz Company
• KETTLE FOODS, Inc.
• JACK LINK'S, LLC.
• Mars, Incorporated
• Mondelēz International, Inc.
• Old Dutch Foods, Inc.
• Orkla ASA
• Snyder's-Lance, Inc
• The Lorenz Bahlsen Snack-World GmbH & Co KG Germany
• Want Want Holdings Limited

Recent Developments

Segmentation

Processed Snacks Market: Segmentation

By Source

• Sweet Snacks
• Savory Snacks

By Grade

• B2B
• B2C
  • Store Based Retail
    • Hypermarkets & Supermarket
    • Convenience Store
    • Specialty Store
  • Online Platform

Processed Snacks Market: Regions Covered

North America

• The U.S.
• Canada
• Mexico

Europe

• Germany
• France
• The U.K.
• Italy
• The Rest of Europe

Asia-Pacific

• China
• Japan
• India
• South Korea
• Australia
• The Rest of Asia-Pacific

Central and South America and the Caribbean

• Argentina
• Brazil
• Colombia
• The Rest of Central and South America and the Caribbean

The Middle East

• Saudi Arabia
• The UAE
• Qatar
• Oman
• Turkey
• The Rest of the Middle East

Africa

• Nigeria
• South Africa
• The Rest of Africa