The Business Research Company’s Snack Food Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, May 26, 2021 /EINPresswire.com/ — Snack food manufacturing companies are adopting robotics and automation technology to maximize production efficiency. Robotic systems automate batching, conveying, processing, storage, and packaging of savory snack products, thus decreasing production cycle time and increasing output. Automation enables snack processing companies to improve plant conditions, reduce contamination, minimal human interaction thus making processing safer for workers as well as consumers. Collaborative robots or semi-autonomous robots are used in various automation processes, including packaging. Plants with fixed automation systems increase yields by at least 2-3% over manual labor.
Major companies in the general and healthy snack food market include Calbee Inc., ConAgra Foods Inc., Ferrero S.P.A., General Mills Inc., Nestle.
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The global snack food market size is expected to grow from $213.63 billion in 2020 to $230.27 billion in 2021 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $307.75 billion in 2025 at a CAGR of 8%.
Asia Pacific is the largest region in the global snack food market, accounting for 56% of the market in 2020. North America is the second largest region, accounting for 25% of the global market. Africa is the smallest region in the global snack food market.
Snack food market segmentation in TBRC’s research report is made by type into potato chips, popcorn, processed snacks, by distribution channel into supermarkets/hypermarkets, convenience stores, e-commerce, others, by type into extruded snacks, non-extruded snacks, and by flavor into salty, tangy, spicy, others.
Snack Food Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides snack food market overview, forecast snack food market size and growth for the whole market, snack food market segments, and geographies, snack food market trends, snack food market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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