Despite its size and relative maturity, the snacks market shows strong worldwide growth. This reflects ongoing demand for between-meal snacks both at-home and on the go. New product introduction levels also remain very high. In part, that’s because manufacturers must remain competitive in a relatively concentrated savory and bagged snacks industry. Moreover, these traditional snack processors face an increasingly wide range of other foods and drinks that also are positioned as snacks.
Innova Market Insights finds that snacking has become part of daily life and the US has the world’s largest and most developed snacks market. In fact, US snack product activity and trends appear to influence global markets.