NEWARK, Del, Oct. 05, 2022 (GLOBE NEWSWIRE) -- The global kid snacks market is expected to reach a value of US$ 1,26,464.9 Mn in 2032, with the market growing at a healthy CAGR of 7.9% from 2022 to 2032. Scaling up from an estimated US$ 59,130.7 Mn in 2022, the kid snacks market is driven by the availability of a flavorful and wide range of choices, powerful advertising strategies, and the growing popularity of organic snack products.
A snack is a certain portion of food that is usually consumed at casual events or in between meals. Smaller than regular meals, snacks are available in a wide range of choices like processed foods, packed snacks, and snacks made from fresh ingredients at home. Kid snacks are a relatively small part of the vast snack category.
Processed snack foods, a type of convenience food, are more durable, have a greater shelf life, and are more portable than homemade food. Snacks usually possess a significant amount of preservatives, salt, and sweeteners. Though beverages like cold drinks, juices, or dairy products are not usually considered snacks, they may be consumed in lieu of snack foods.
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The lack of nutritious content and the presence of preservatives in kid snacks is encouraging more and more parents to buy healthy and nutritious snack products. As a result, many market players have become more competitive in terms of releasing healthy snacks. Also, in order to increase their consumer base, many companies also offer toys along with snacks in order to appeal to the kids.
Moreover, advertisements and promotions of these snack items largely influence the intake of processed snack foods by kids. This leads various kid snack manufacturers to adopt aggressive advertising strategies to promote their products. Again, manufacturers are offering different coupons for online sales. All of these factors aid in generating a larger consumer base and foster an environment of growth for the kid snack market during 2022-2032.
“Rising popularity of organic and healthy snacks coupled with advertising tactics adopted by the market players will propel the global growth of the kid snacks market over the forecast period,” says an FMI analyst.
Key Takeaways:
- Aggressive advertisement is the primary growth driver of the target market.
- Poor nutritional content and use of plastic may hamper the market growth
- In 2022, the Asia Pacific region will account for 22% of the global market share.
- Heightened production capacity will push the kid snack market in Europe to hold about 24.5% of the market share.
- The kid snack market in North America will account for 27.4% of the market share by 2022.
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Competitive Landscape
Procter&Gamble, PepsiCo, Inc., The Kraft Heinz Company, Conagra Brands Inc., Calbee, Inc., General Mills, Inc., Intersnack, Lorenz Snack-World, and Mondelez International, Inc., among others, are some of the major players in the kid snacks market profiled in the full version of the report.
Major market players are focusing on product development and expansion of their product portfolios. These enterprises are keen on offering a wide range of snack items while also adopting tactics like partnerships and collaborations to gain a competitive edge.
More Insights into Kid Snacks Market Report
In its latest report, FMI offers an unbiased analysis of the global kid snacks market, providing historical data from 2016 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of source (organic kids snacks, conventional kids snacks), type (salty kids snacks, refrigerated or frozen kids snacks, confectionary kids snacks, bakery kids snacks, vegetable kids snacks, fruit kids snacks, nut-based kids snacks), distribution channel (supermarket/ hypermarket, online stores, specialty stores, grocery stores, convenience stores), and region.
According to the latest FMI reports, based on region, North America is anticipated to rise as one of the eminent kid snack markets during the forecast period. The target market will likely grow at a CAGR of % during 2022-2032. The heightened popularity of organic snacks and the advancing penetration of many market players fuel the regional market growth during the projected period. The Asia Pacific and Europe, too, will undergo substantial market growth in the next few years.
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
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Explore wide-ranging Coverage of FMI’s Food And Beverage Market Insights Landscape:
Dairy Snacks Market: The global dairy snacks market is likely to be valued at US$ 214 Bn in 2022. Furthermore, with rising consumption of dairy products globally, the overall sales of dairy snacks are projected to surge at nearly 6% CAGR between 2022 and 2032, reaching a valuation of US$ 380 Bn by 2032.
Refrigerated Snacks Market: The global refrigerated snacks market is expected to reach a market valuation of US$ 84.5 Bn by the year 2022, accelerating with a CAGR of 4.2% by 2022-2032. Refrigerated snacks sales are likely to account for ~20% of the overall snacks market, which is anticipated to be valued at US$ 427.2 Bn by 2022 end.
Savory Snacks Market: Savory snacks market are gluten-free with low-calorie content, which makes it edible for diabetes and obesity patients. The millennials are expected to boost the industry's growth during the forecast period due to the burgeoning demand for snacks from these set of individuals.
Better for You Snacks Market: The global better for you snacks market is expected to reach a valuation of US$ 37 Bn by 2022, accelerating at a CAGR of 6.5% during 2022-2032. The market is anticipated to reach a valuation of US$ 70 Bn by the end of 2032.
Fruit Snacks Market: Global fruit snacks market demand is anticipated to be valued at US$ 5,456 Million in 2022, forecast a CAGR of 7.4% to be valued at US$ 11,120 Million from 2022 to 2032.
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