U.S. Snack Foods Market 2021 | Global Industry Analysis by Future Scope, Revenue Growth Development, Leading Countries Analysis, Regional Analysis with Top Countries Forecast to 2030

In a recent published report, Kenneth Research has updated the market report for U.S. Snack Foods Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for U.S. Snack Foods Market products.

Download  Sample of This Strategic Report-https://www.kennethresearch.com/sample-request-10294073

REPORT HIGHLIGHT

The U.S. snack foods shipment was valued USD 78.2 billion by 2017, growing with 2.9% CAGR during the forecast period, 2018-2025

Snack foods encompass processed and packaged food items that often serve as a convenient source of calories between meals and a means of satisfying a craving for savory tastes. Compared to foods typically eaten during breakfast, lunch, and dinner, processed snack foods require little or no preparation and facilitate on-the-go consumption. Demand for snack foods in the U.S. is majorly driven by the increase in population and disposable personal income levels. The industry is also impacted by mandates from government agencies such as the Food and Drug Administration (FDA).

The U.S. net exports of snack foods amounted to over USD 2.5 billion and growing with a growth rate of 10% annually. In addition, the country is a major producer and exporter of nuts, particularly almonds owing to the large part to significant land resources and suitable growing conditions. Nuts are one of the most expensive types of snack food, helping the country to command a substantial share of export value.

On the other hand, in 2017, Canada accounted for over 25% of US snack imports, followed by Mexico, Vietnam, China, and Germany. Chocolate represented the leading product among snack food imports, accounting for significant revenue share. Moreover, these products are readily available in vending machines and grab-and-go retail outlets such as convenience stores and gas stations, supporting the product demand significantly.

Product Takeaway

Cookies & Crackers

Chips & Pretzels

Nuts, Seeds & Dried Produce

Chocolate Candy & Confections

Non-Chocolate Candy & Confections

It is analysed that the U.S. shipments of chocolate candy and confections are expected reach over USD 20 billion by 2025. An increase in population base coupled with growing product demand will support demand and corresponding industry output. Chips & Pretzels accounted for significant revenue share due to new product introduction by key players. For example, in 2015, Diamond Foods added vegetable chips to its KETTLE BRAND. However, nutritional concerns will represent an important restraint on growth, particularly as some medical studies identify potato chip consumption as a risk factor for health conditions such as obesity and Type II diabetes.

Key players Takeaway

PepsiCo

Nestlé USA

General Mills

The Hershey Company

Mars

In 2015, Mars, Mondelēz, and PepsiCo ranked among the leading producers of snack food in the US. Mondelēz and PepsiCo predominantly manufacture chips, pretzels, cookies, and crackers; Mars is active in the candy and confectionery market. US snack food producers participate in a market characterized by intense competition, as a multitude of brands jockey for retail space and sales. In such a market, snack food producers rely on a combination of brand loyalty and product enhancements to stimulate sales and gain or maintain market share. For instance, in 2013, Mars introduced bite-sized versions of its popular MILKY WAY and SNICKERS candy.

The snack food industry is highly competitive. Firms compete for consumer dollars and shelf space at retail outlets based on price, product innovation quality, and brand recognition. All key players benefit from well-established brands and distribution channels, as well as economies of scale that enable them to invest significantly in product development and building brand equity.

Get a Sample PDF of report-https://www.kennethresearch.com/sample-request-10294073

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year – 2014 & 2016

Base Year – 2017

Estimated Year – 2018

Projected Year – 2025

TARGET AUDIENCE

Traders, Distributors, and Suppliers

Manufacturers

Government and Regional Agencies

Research Organizations

Consultants

Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY PRODUCTS

Cookies & Crackers

Chips & Pretzels

Nuts, Seeds & Dried Produce

Chocolate Candy & Confections

Non-Chocolate Candy & Confections

About Kenneth Research

Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation

Contact Us

Name: Kenneth research

Email:sales@kennethresearch.com

Phone: +1 313 462 0609

James Bullock is a Research Expert with a demonstrated history of working in the professional training & coaching industry. Strong professional skilled in business strategy , Strategic Planning, Research Strategy, and Marketing. also have interest in new innovations and technology

Leave a Reply