Global Beverage Industry Current Scenario and Future Outlook

The unprecedented COVID-19 outbreak has created disruptions in the food and beverage market, compelling school and corporate cafeterias to shut down. With economies slowly recovering, restaurants and eateries are operational at limited capacity.

On the flip side, packaged food and beverage retail has experienced a strong surge in demand during the pandemic. Customers were seen stockpiling shelf-stable beverages as the consumption heightened due to the widespread shift to work from home and online learning.

Fact.MR published a report on the snacks market for the forecast timeline of 2017 to 2022. This report on the snacks market incorporates compelling insights procured by adopting a rigorous methodology- a combination of both primary and secondary research. The report opines sales outlook on snacks to register significant CAGR  during 2017 to 2022.

This report on the snacks market induces an in-depth understanding of the present and futuristic scenario of the industry, along with other factors such as product developments and key differential strategies for successful expansion in the snacks market. The latest industry analysis on snacks provides a sales outlook in 20+ countries, across key categories Product, Application, Sales Channel. Insights on snacks market drivers, trends, and influencing factors are also included in the study. 

The global snacks market is anticipated to register a steady expansion, according to the latest report by Fact.MR. The report estimates market revenues to increase at a steady rate during the forecast period.

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Currently, consumers are more concerned about their snacking habits. Earlier, snacks were considered to be stop-gap food between meals. At present, they are being consumed with meals across many developed economies. This has led to higher adoption of healthy snacking products such as extruded snacks, on the back of their metabolic benefits. Manufacturers are focusing on making alterations in the nutritional content of extruded snacks, by modifying the digestion capability of starch and protein. In addition, the fast-paced lifestyle of people is driving the adoption of packaged food such as bakery, and confectionery products.

The global market for snacks is highly fragmented, with the presence of myriad, large as well as small vendors competing to increase their market presence by leveraging their sales, based on promotion, service, innovation, and quality. Intense competition is expected to prevail in the global snacks market, owing to continuously changing spending patterns of consumers, local and national economic conditions, and demographic trends.  These factors will augment the growth of the market in the near future.

However, savory and sweet snacks do not contribute to health and wellness trends. The snacks are usually more expensive as compared to their standard counterparts, with the price gap between the two widenings rapidly, especially in developed economies. These might act as restraining factors for market growth.

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

North America Snacks market is expected to remain dominant in the global market, in terms of revenues. The market in this region is projected to register the highest CAGR through 2022.
Fact.MR analysis provides snacks demand-supply assessment, revealing snacks sales 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 the 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 the 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.

Some of the key questions answered in the report for snacks market include-

Which product is likely to flourish in terms of demand in the snacks market, biscuits, bars, or fruit snacks?
Which distribution channel will gain momentum in the snacks market over time?
Which source type in the snacks market will occupy a large revenue chunk?

Snacks Market: Segmentation

Global Snacks Market Analysis by Product Type

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

Global Snacks Market Analysis by Sales Channel

Modern Trade
Departmental Stores
Specialty Stores
Online Stores
Drug Stores
Convenience Stores

Global Snacks Market Analysis by Source

Wheat
Maize
Rye
Rice
Fruits & Vegetable
Meat

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Key Country-wise Inclusions

• US Snacks Market
• Canada Snacks Sales
• Germany Snacks Production
• UK Snacks Industry
• France Snacks Market
• Japan Snacks Supply Assessment

Prominent Manufacturers as per their market foothold, which includes

National Biscuit Industries LTD SAOG
Kellogs
Kraft Foods Group INC.
Nestle SA.
Campbell Soup Company
ITC Limited
Mondelez International INC.
Lotus Bakeries NV
Britannia Industries Limited
CALBEE Inc.

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