Quarterly Industry Bulletin

Snack Foods

With nearly 75% of all U.S. consumers saying they eat three or more snacks per week,* the global snack food packaging market is expected to grow at a compound annual growth rate of more than 7.5% to reach upwards of $48.5 billion by 2032.** Consumer preferences for healthy snacks, coupled with a predilection for on-the-go snacking, gives manufacturers an opportunity to develop the latest and greatest products for a changing market. But according to the latest research, it’s not just the product that needs to be great—the packaging must also measure up.

*Source: Statista
**Source: PR Newswire

27%

of all food and beverage sales in the U.S. are snacks

Source: SNAC International

What’s Driving Growth?

More snacking! In early 2000, many consumers reported snacking a few times a week. Today,

25% Snack every afternoon

another 25% snack every evening

Source: SNAC International

Top Snack and Bakery Producers

Nestlé
PepsiCo
Mars
Mondelēz
Kraft-Heinz

Source: Snack Food & Wholesale Bakery

Other Major Impacts Affecting the Industry

Personalized snacking that caters to the dietary needs and health goals of each consumer while also providing a variety of flavors and portion sizes

Source: Specialty Food Magazine

Packaging Trends and Influences Within This Segment

Preferences for on-the-go packaged snacks is increasing. This could be an area of growth, especially for convenience and grocery stores.
Inflationary pressure has changed the buying patterns of many consumers, but demand in all categories remains strong. Snack makers should look to reach consumers in the short-, medium- and long-term, making sure they are present in all retail channels, including dollar stores and big-box stores.*
The snack foods industry is also being impacted by environmental concerns, which are driving a shift towards sustainable packaging solutions. There are already moves to prioritize eco-friendly materials such as compostable or biodegradable packaging.**

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*Source: SNAC International
**Source: Specialty Food Magazine

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