Snack Foods Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 12/9/2022
SIC Codes: 2068, 2096
NAICS Codes: 31191
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Snack Foods Manufacturing Industry Profile

Companies in this industry make snack foods such as nuts, chips, and popcorn, as well as peanut butter. Major companies include Clif Bar & Company, Frito-Lay, Mondelez International, Utz Brands, Wonderful Pistachios & Almonds, and the snack divisions of diversified food manufacturers such as Campbell Soup Company and Kellogg's (all based in the US); other leading firms include Calbee (Japan), Nongshim (South Korea), and United Biscuits and Walkers Crisps (both based in the UK).

The global savory snacks market is projected to reach about $145 billion in 2026, at a 7.1% compound annual growth rate (CAGR) during the forecast period, according to The Business Research Company. Asia Pacific and North America holds the highest revenue share of the market.

The US snack foods manufacturing industry includes about 670 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $40 billion.

The industry does not include makers of cookies and candy, which are covered in separate industry profiles.

COMPETITIVE LANDSCAPE

Demand is driven by?consumer tastes?and?health considerations. The profitability of individual companies depends on efficient operations, effective marketing, and a strong sales force. Large companies have advantages in raw material purchasing, manufacturing efficiencies, distribution, and marketing budgets. Small operations can compete effectively by self-distributing products, selling online, or marketing snacks as gift items. The US industry is?highly concentrated: the top 50 companies account for about 85% of industry revenue.

Snack foods ...

 
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