Snack Food Market Expected Growth to $220 Billion by 2025
In 2015 the global savory snack food market was worth $94.3 billion and is expected to grow to $220 billion by 2025 according to the 2018 Assessment of the Snack Foods Market report produced by PMMI, The Association for Packaging and Processing Technologies.
North America is the second largest market for snack foods, accounting for 33 percent of market value. Of the North American snack food market, sweet snacks account for 60 percent, and savory snacks account for 40 percent, with savory snacks growing at a greater rate than sweet, the report states.
Over the next two to three years, snack foods manufacturers are expected to invest heavily in X-ray machines and foreign object detection mostly due to Food Safety Modernization Act (FSMA) regulations and the need to reduce scrap costs. Manufacturers are looking for improved sanitary design, ease of maintenance and operation and reduced lead times for machines and parts ordered.
Powered by PACK EXPO, Koelnmesse (organizer of Anuga) and the International Dairy Foods Association (IDFA), the processing show is unprecedented in its ability to bring the industry together and address the key issues facing food and beverage processing operators in North America. The show will include 7,000 processing professionals and 400 of the world’s top suppliers spanning 125,000 net square feet of exhibit floor and 25 hours of educational programming.
Snack food manufacturers can find comprehensive food and beverage processing technologies and solutions at ProFood Tech (March 26-28, 2019; McCormick Place, Chicago). Register for $30 until March 1 (after which the price increases to $100). Visit profoodtech.com.