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

U.S. Snack Foods Market, By Products (Cookies & Crackers, Chips & Pretzels, Nuts, Seeds & Dried Produce, Chocolate Candy & Confections and Non-Chocolate Candy & Confections), and Geography (NA, EU, APAC, and RoW)-Analysis, Share, Trends, Size, & Forecast From 2014-2025

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WMR-Western Market Research has recently published a comprehensive and exclusive research report, which is an intelligent study covering all key segments. This research report provides breakthrough inputs and insights on market related factors like size, competition, trends, analysis, forecasts etc. The study encompasses primary and secondary data sources along with quantitative and qualitative practices thus assuring data accuracy.
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

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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.

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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
Nestl USA
General Mills
The Hershey Company
Mars
In 2015, Mars, Mondel?z, and PepsiCo ranked among the leading producers of snack food in the US. Mondel?z 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.

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

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