Overproduction Of Crops And Its Impact On Profit Margins In The Food And Beverage Industry Driver: Leading Transformation in the Snack Food Market in 2025

What combination of drivers is leading to accelerated growth in the snack food market?
Globally, numerous nations are witnessing a decrease in crop prices due to overproduction, which may lead to diminished raw material expenses for entities in the food and beverage industry. For example, as mentioned in a November 2022 report by Frontline, an Indian national agriculture-focused magazine, the Cabinet Committee on Economic Affairs launched a bailout program worth $8.4 billion (Rs 7000 crore) for farmers engaged in sugar production. This initiative aims to set a minimum selling price for refined sugar at Rs 29 per kilogram after prices fell to Rs 23-24 per kilogram and establish a buffer stockpile of 3 million tons of sugar for a year due to overproduction. Consequently, this surplus production of certain agricultural commodities could potentially lead to increased profit margins for food and beverage businesses. The larger profit margins might, in turn, allow snack food manufacturers to boost their output and foster market growth in the future.

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What is the projected compound annual growth rate (CAGR) of the snack food market from 2025 to 2034, and what factors influence it?
The size of the snack food market has seen significant expansion in recent years. The market is predicted to increase from $249.66 billion in 2024 to $265.58 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.4%. The surge in growth during the historical period is a result of transformations in consumer lifestyles, the convenience and portability of snack foods, innovative flavors and varieties, the impact of globalization and cultural influences, and an increased demand for natural and organic snacks.

Projections indicate a robust upsurge in the snack food market size in the forthcoming years. The anticipated valuation is around $339.94 billion by 2029, with a compound annual growth rate (CAGR) of 6.4%. The expected acceleration during this forecast period is tied to factors like the rise in plant-based and alternative proteins, the emphasis on sustainability, demographics-focused approach, global cuisine's influence, as well as attention to transparency and clean labeling. The forthcoming trends include the introduction of new textures, the transformation of meals into snacks, exploration of global flavors, societal trends, busy lifestyles, novel ingredient innovations, and the surge in e-commerce and online retail.

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How are the latest trends influencing the growth of the snack food market?
Manufacturers of snack food are embracing the use of robotics and automation technology to enhance their production efficacy. The automation of key production processes such as batching, conveying, processing, storage, and packaging of savory snacks through robotic systems leads to a reduction in production cycle times and a rise in output. Thanks to automation, snack processing firms are able to boost their plant conditions, minimize contamination, and function with reduced human involvement, enhancing the safety of both workers and consumers. Numerous automation procedures, including packaging, employ cooperative or semi-autonomous robots. Plants equipped with permanent automation systems tend to boost their output by a minimum of 2-3% compared to manual labor.

What are the major segments of the snack food market and their role in driving growth?
The snack food market covered in this report is segmented -

1) By Type: Extruded Snacks, Non-extruded Snacks
2) By Flavor: Salty, Tangy, Spicy, Other Flavors
3) By Distribution Channel: Super markets/Hyper markets, Convenience Stores, E-Commerce, Other Distribution Channels

Subsegments:
1) By Extruded Snacks: Corn-Based Snacks, Potato-Based Snacks, Rice-Based Snacks, Snack Pellets
2) By Non-extruded Snacks: Chips, Crackers, Popcorn, Nuts And Seeds, Pretzels, Granola Bars, Jerky



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Which regions are key players in the growth of the snack food market?
Asia-Pacific was the largest region in the snack food market in 2024. North America was the second-largest region in the snack food market. The regions covered in the snack food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the snack food market?
Major companies operating in the snack food market include My Super Foods LLC, Nestlé SA, PepsiCo Inc., Unilever PLC, Mondelez International Inc., The Kraft Heinz Company, General Mills Inc., The Kellogg Company, Conagra Brands Inc., Sprout Foods Inc., AMCON Distributing Company Inc., Hain Celestial Group Inc., Haldiram Snacks Pvt. Ltd., McCain Foods Limited, Utz Quality Food LLC, Link Snacks Inc., Hanover Foods Corporation, Amy's Kitchen Inc., Nurture Me Inc., Clif Bar & Company, Lundberg Family Farms, Annie's Homegrown Inc., Grippo Potato Chip Company Inc., Creative Snacks Co. LLC, Hunter Foods LLC, Eat Real Snacks LLC, Heritage Family Specialty Foods Inc., YummyEarth Inc., Navitas Organics Inc.

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What Is Covered In The Snack Food Global Market Report?

•Market Size Forecast: Examine the snack food market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the snack food market for a structured understanding.
•Key Players Overview: Analyze major players in the snack food market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the snack food market.
•Segment Contributions: Evaluate how different segments drive overall growth in the snack food market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the snack food market.
•Industry Challenges: Identify potential risks and obstacles affecting the snack food market.
•Competitive Landscape: Review strategic developments in the snack food market, including expansions, agreements, and new product launches.

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