Industry Analysis & Industry Trends
The Snack Food Production industry has benefited from increased demand over the past five years. As the economy has continued to strengthen, discretionary income levels have climbed. In turn, renewed consumer spending has boosted sales of potato and tortilla chips, along with nuts and seeds. The industry's future looks promising, with improving economic conditions expected to further lift demand for snacks. Projected increases in per capita disposable income will enable some consumers to trade up to premium brands and product segments, helping drive revenue growth. Additionally, as consumers demand more healthy versions of existing snacks, operators are expected to introduce a wider variety of products... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Snack Food Production industry is in the growth stage of its life cycle. Although most industry products experience full market acceptance, several key characteristics point to growth. Over the 10 years to 2021, industry value added (IVA), which measures an industry's contribution to the economy, is projected to increase at an annualized rate of 5.8%. In comparison, GDP is forecast to grow 2.2% per year on average over the same period.
Participation is high, with numerous new companies entering niche snack markets. In the 10 years to 2021, the number of industry operators has increased at an annualized 4.3%. Moreover, snack producers are highly innovative, with both small and large players consistently releasing new products such as kale and root vegetable chips... purchase to read more