Gurugram, India, May 08, 2024 (GLOBE NEWSWIRE) -- The global snacking scene is sizzling! Fueled by our insatiable desire for convenient and healthy bites, the market is experiencing a delicious surge. Ken Research's insightful report, Global Snack Food Market Forecast to 2030: A Bite-Sized Look at $800 Billion Opportunity, delves into this ever-evolving landscape, projecting a remarkable 5.1% CAGR that will push the market value to a staggering $800 billion by 2030. This press release summarizes the key findings and offers valuable insights for manufacturers, retailers, and investors seeking a winning recipe in this dynamic market.
Convenience Cravings Drive On-the-Go Snacking:
The fast-paced nature of modern life has ignited a 30% growth in demand for convenient snacking options since 2018. Consumers are increasingly seeking readily available, portable, and satisfying snacks that seamlessly integrate into their busy schedules.
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Stat-Based Headings:
5.1% CAGR Propels Snack Market to $800 Billion by 2030: This data-driven headline emphasizes the robust growth trajectory and projected market size of the global snack food industry. 30% On-the-Go Snacking Surge: Highlights the significant rise in demand for convenient and portable snack options. Health Takes Center Stage: Functional & Nutritious Snacks Gain Traction: Focuses on the growing consumer preference for snacks that offer health benefits alongside taste appeal. Salty Snacks Maintain Dominance: Shines a light on the enduring popularity of traditional salty snack categories. E-commerce takes a Bite out of Traditional Sales: Emphasizes the growing importance of e-commerce platforms for snack purchases. Emerging Markets: A Lucrative Bite for Expansion: Highlights the potential for growth in developing economies with rising disposable income. Sustainable Packaging on the Rise: Eco-Conscious Consumers Drive Change: Focuses on the growing preference for sustainable packaging solutions within the snack food industry.Health Takes Center Stage: Functional & Nutritious Snacks Gain Traction:
Consumers are becoming more health-conscious, seeking snacks that offer both taste and nutritional value. This trend presents a 25% growth opportunity for manufacturers to develop healthier snack options that are high in protein, fiber, and other essential nutrients.
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Salty Snacks Maintain Dominance:
Despite the rise of health-conscious alternatives, salty snacks like potato chips, extruded snacks, and nuts remain a dominant category, accounting for over 50% of the global market share. However, even within this category, there is a shift towards healthier options with lower sodium content and baked versions.
E-commerce takes a Bite out of Traditional Sales: