North America Snack Food Market Size (2024 - 2029)

The North American snack food market is experiencing growth driven by increased consumer demand for convenient and reliable snack options, a trend that was amplified during the COVID-19 pandemic. The market's expansion is supported by a rise in snack consumption, particularly in Canada, where there is a notable preference for on-the-go and fruit-based snacks. Additionally, the introduction of innovative flavors and the expansion of modern distribution channels are enhancing market dynamics. The variety of products, including those with local Mexican flavors, is also contributing to the market's growth trajectory.

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Market Size of North America Snack Food Industry

North America Snack Food Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 3.79 %
Market Concentration Low

Major Players

North America Snack Food Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Snack Food Market Analysis

The North American Snack Food market is projected to register a CAGR of 3.79% during the forecast period, 2022-2027.

As a result of the COVID-19 pandemic, many private snack food players emerged in the markets to meet the increased demand. During the lockdown, there was a rise in the demand for packaged and reliable snack food brands, which will probably have a positive effect on the market's expansion. As a result of the coronavirus outbreak in the United States, 27% said they were snacking more (as per Food Insight). For instance, in February 2021, the American Frozen Food Institute (AFFI) reported that the sales of frozen meals such as seafood, and poultry were 21.0% higher than in the year 2019 with double-digit sales of all types of frigid/chilled meals. In continuation, retail demand for the above-mentioned products throughout the pandemic has been 15-20% higher than usual.

Over the medium term, the high snack consumption in Canada, coupled with the increasing demand for on-the-go snack options, is majorly driving the market growth. Moreover, consumers prefer fruits and fruit-based snacks bar, followed by nuts. Thus, manufacturers are continuously launching innovative new flavors and expanding into the Canadian market to meet the rising demands for all the variants of snack bars.

The rising product variety, local Mexican flavors, changing consumer lifestyles, and rapid growth in modern distribution channels are major factors contributing to the increasing sales of snack food products across the region.

North America Snack Food Industry Segmentation

A snack is a small portion of food eaten between meals. Snacks come in a variety of forms and shapes, including packaged snack foods and other processed foods. The North American Snack food market is segmented by type, distribution channel, and by country. By type, the market studied is segmented into frozen snacks, savory snacks, fruit snacks, confectionery snacks, bakery snacks, and other types. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels, and by country into the United States, Canada, Mexico, and the Rest of North America. For each segment, the market sizing and forecasts have been done based on value (in USD million).

By Type
Frozen Snacks
Savory Snacks
Fruit Snacks
Confectionery Snacks
Bakery Snacks
Other Types
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Online Retail Stores
Other Distribution Channels
By Country
United States
Canada
Mexico
Rest of North America
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North America Snack Food Market Size Summary

The North American snack food market is experiencing a steady growth trajectory, driven by evolving consumer preferences and an increase in demand for convenient and healthy snack options. The COVID-19 pandemic acted as a catalyst for market expansion, with a surge in demand for packaged snacks as consumers sought reliable and safe food choices during lockdowns. This trend has persisted, with a notable shift towards healthier alternatives such as fruit-based snacks, nuts, and granola bars, as consumers become more health-conscious. The market is characterized by a diverse range of products, including innovative flavors and formats, catering to the growing inclination towards on-the-go snacking and healthier lifestyle choices. The presence of major players like PepsiCo, Kellogg, and Nestle, alongside regional brands, contributes to the competitive landscape, with companies focusing on strategic partnerships, mergers, and product development to enhance their market presence.

Retail channels, particularly supermarkets and hypermarkets, play a pivotal role in the distribution of snack foods across North America, offering a wide array of products to meet diverse consumer preferences. These retail formats benefit from expansive space and customer-friendly environments, facilitating easy access to various snack options. The market's growth is further supported by the expansion of these retail channels and the introduction of loyalty programs to retain customers. The competitive nature of the market is underscored by the presence of both global and regional players, with companies continuously innovating to attract health-conscious consumers. The introduction of new product lines, such as plant-based snacks and keto-friendly bars, highlights the industry's response to changing consumer demands and the ongoing trend towards healthier snacking solutions.

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North America Snack Food Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Force Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Frozen Snacks

      2. 2.1.2 Savory Snacks

      3. 2.1.3 Fruit Snacks

      4. 2.1.4 Confectionery Snacks

      5. 2.1.5 Bakery Snacks

      6. 2.1.6 Other Types

    2. 2.2 By Distribution Channel

      1. 2.2.1 Supermarkets/Hypermarkets

      2. 2.2.2 Convenience Stores

      3. 2.2.3 Online Retail Stores

      4. 2.2.4 Other Distribution Channels

    3. 2.3 By Country

      1. 2.3.1 United States

      2. 2.3.2 Canada

      3. 2.3.3 Mexico

      4. 2.3.4 Rest of North America

North America Snack Food Market Size FAQs

The North America Snack Food Market is projected to register a CAGR of 3.79% during the forecast period (2024-2029)

Kellogg Company, PepsiCo Inc., Nestle S.A., General Mills Inc. and Conagra Brands are the major companies operating in the North America Snack Food Market.

North America Snack Food Report Snapshots

North America Snack Food Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)