The global processed snacks products market was valued at USD 235.7 billion in 2022 and is projected to expand at a CAGR of 7.2% from 2023 to 2030. Processed snacks products are widely popular due to their convenience and on-the-go consumption, which makes them a desirable choice for busy consumers. Processed snacks are also gaining traction due to their health benefits, such as reduced calories, sodium, and cholesterol. Furthermore, the increasing number of health-conscious consumers is driving the demand for healthier processed snacks. Consumers are now more conscious of the ingredients used in processed snacks products and are looking for healthier alternatives such as nuts, seeds, and fruit-based snacks.

The rising popularity of snacking culture has been a major driving factor for the processed snacks products market. According to a survey by Mondelez International, in 2021, snack consumption has increased by 38%, and the majority of consumers prefer to snack rather than eat meals. In addition, the increasing demand for convenience foods due to the busy lifestyle of consumers is propelling the growth of the processed snacks products market.

The growing demand for flavored snacks is expected to drive the market growth in the coming years. Companies are launching new flavors to cater to the demand of consumers for indulgent snacks. For instance, in April 2021, PepsiCo launched a new range of flavored snacks, including Doritos Jalapeño Popper, Doritos Tangy Cheese, and Doritos Dinamita Chile Limón. Furthermore, the increasing number of product launches is expected to propel the market growth in the coming years. For instance, in March 2021, Kellogg’s launched a new range of snack products, including Pringles Pizza and Pringles Pickle, to cater to the demand of health-conscious consumers.

The increasing demand for organic processed snacks is anticipated to boost the market growth in the coming years. Consumers are now more conscious of their health and are increasingly looking for organic snacks with natural ingredients and clean labels. This has led to the introduction of organic processed snacks by manufacturers. For instance, in April 2021, Nature’s Path launched three new organic snacks, including Organic Superfood Bites, Organic Chewy Granola Bars, and Organic Superfood Bites.

Furthermore, the increasing demand for sustainable packaging is expected to drive the market growth in the coming years. Manufacturers are now focusing on eco-friendly packaging to reduce the environmental impact of their products. For instance, in March 2021, PepsiCo announced the launch of its new range of sustainable chips and snacks in paper packaging, which is expected to reduce plastic waste.

The potato snacks segment led the market and accounted for a share of around 47.6% in 2022. Growing demand for processed snacks such as potato chips, French fries, and other potato-based snacks, especially in developed countries, has been driving the growth of the segment. According to an article published by The Guardian, in November 2019, potato chips are the most popular snack in the U.S. and UK, and are consumed by nearly one-third of the population. In addition, rising awareness regarding health benefits of processed snacks and growing disposable income of consumers are the other factors driving the growth of the segment.

The frozen snacks segment is anticipated to expand at the fastest CAGR of 6.9% over the forecast period. Increasing demand for frozen snacks due to their convenience and longer shelf life is driving the growth of the segment. According to an article published by the University of Illinois, in October 2019, frozen snacks are a convenient option for busy consumers, as they are ready-to-eat and require minimal preparation. In addition, the growing popularity of frozen snacks among health-conscious consumers is another factor driving the growth of the segment.

Supermarkets and hypermarkets are major sources of processed snacks in the market, and the segment is estimated to account for the highest share in 2022. Supermarkets are the most preferred channel for purchasing processed snacks, as consumers can select products within the category according to their preferences. Additionally, consumers prefer supermarkets and hypermarkets due to the availability of a wide range of products, competitive prices, and convenience. Furthermore, supermarkets and hypermarkets provide additional services such as free home delivery, convenient packaging, and discounts, which are attracting more customers.

The online segment is forecasted to expand at the highest CAGR of 14.0% during the forecast period due to the growing penetration of internet-enabled devices and the rising demand for convenience. The online channel offers convenience, as consumers can purchase processed snacks from the comfort of their homes and get them delivered within a short time. Additionally, online channels also offer discounts and promotional offers, which have further increased the demand for processed snacks online. Companies such as PepsiCo and Mondelez are focusing on strengthening their online presence to increase sales and revenue.

The ready-to-eat processed snacks segment accounted for the largest market share of 74.3% in the year 2022. This segment is growing owing to the increasing popularity of convenient snacks among the working population. Additionally, the increasing awareness about the ill-effects of consuming deep-fried snacks and the health benefits associated with ready-to-eat snacks is further propelling the demand for the ready-to-eat snacks. Moreover, the launch of innovative products such as popcorn, granola bars, and energy bars is also driving the market. For instance, in June 2022, Kellogg’s launched a new range of ready-to-eat snacks including Special K Popcorn Chips and Special K Popcorn Bites.

The frozen processed snacks segment is anticipated to register the highest CAGR of 8.9% over the forecast period. The increasing demand for frozen processed snacks is attributed to the superior shelf life of the product. Additionally, the rising demand for convenient snacks among the consumers is expected to drive the market for frozen processed snacks. Furthermore, the product’s appeal to a wide range of consumers such as children and adults is further propelling the market.

Asia Pacific dominated the market and accounted for the largest revenue share of over 34% in 2022. This growth is attributed to the increasing demand for convenience food products among consumers due to their busy lifestyles. In addition, the growing health-consciousness and awareness regarding the health benefits of processed snacks, such as low-fat, low-calorie, and high-fiber content, are also driving the market’s growth. For instance, in April 2022, PepsiCo Inc. launched a new range of processed snacks in the region, including chips, crackers, popcorn, and nut snacks.

North America is expected to witness the fastest growth during the forecast period. Increasing demand for innovative and healthy processed snacks from consumers is a key factor driving the growth of the market in this region. In addition, the growing number of fast-food outlets and the presence of a large number of convenience stores are further expected to propel the regional market’s growth. For instance, in April 2022, Frito-Lay launched a new range of processed snacks in the U.S., including baked chips, tortilla chips, and nut snacks.

In this part of the processed snacks products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your processed snacks products. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenue for a processed snacks products business comes from product sales, promotions, and sponsorships. Here you will find a list with a description of each of them and other possible sources of profit such as e-commerce, subscription services, foodservice distributors, and retail sales.

Projecting Expenses
In this section, all the regular expenses related to keeping the processed snacks products business running will be described. The list of operating expenses includes packaging and labeling, raw materials, transportation, advertising and marketing, wages, utilities, insurance policies, and others.

Some of the key companies operating in the processed snacks market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, PepsiCo Inc. launched a new range of organic snacks made with non-GMO ingredients.

– In August 2022, Kellogg Co. launched a range of protein-rich snacks.

– In October 2022, Mondelēz International, Inc. launched a new range of organic snacks with no artificial ingredients or preservatives.

Some of the prominent players in the processed snacks market include:

– PepsiCo Inc.
– Kellogg Co.
– General Mills, Inc.
– Mondelēz International, Inc.
– Conagra Brands, Inc.
– Kraft Heinz Company
– Frito-Lay, Inc.
– Calbee, Inc.
– Mars, Inc.
– Nestlé S.A.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global processed snacks products market based on product, distribution channel, type, and region:

1. Product Outlook (Revenue, USD Million, 2017 – 2030)

– Potato Chips
– Corn Chips
– Nuts & Seeds
– Popcorn
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Type Outlook (Revenue, USD Million, 2017 – 2030)

– Ready-to-eat
– Ready-to-cook

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What is the Potential of Product Innovation?
[A]: With technology breakthroughs accelerating, businesses are implementing cutting-edge production methodologies to improve productivity and output while also instilling excellent manufacturing standards and product innovation. Processed snacks manufacturers are focusing on product differentiation and innovation by introducing new flavors, shapes, and sizes. As consumers are increasingly looking for convenience and health benefits, manufacturers are now focusing on producing snacks with low-fat, low-salt, and low-sugar content.

[Q]: Who are the Key Players in the Processed Snacks Market?
[A]: Key players in the processed snacks market include PepsiCo, Inc., The Kellogg Company, Nestlé S.A., Mondelēz International, Inc., Conagra Brands, Inc., and General Mills, Inc.

[Q]: Which Region Offers the Largest Opportunity for Sales of Processed Snacks?
[A]: North America is the largest regional market for the processed snacks market and is expected to register the highest CAGR over the forecast period. The presence of major players, increasing demand for convenience foods, and changing lifestyle are the key factors driving the market in North America.

[Q]: What are the factors driving the processed snacks market?
[A]: Factors such as increasing demand for convenience foods, busy lifestyle, and hectic work schedules are driving the growth of the processed snacks market. Moreover, increasing disposable income, the rise in the number of working women, and the availability of snacks in different shapes, sizes, and flavors are some of the other factors driving the market.