Snacks Market Size, Share, Growth Analysis, By Type(Frozen & Refrigerated, Fruit, Bakery, Savory), By Distribution channel(Supermarkets & Hypermarkets, Convenience Stores, Online, others), By Region - Industry Forecast 2024-2031

Asia Pacific dominated the global snacks market with a share of 34.3% of global value during 2021. Consumers prefer flexibility and convenience when it comes to eating, and packaged snacks are one of the top winners in this area. Snacks that are packaged and ready to eat (RTE) are perfect for grab-and-go consumption. For instance, customers in China, where snacks are frequently consumed as a fast fix for regular meals, are starting to place a higher value on wellbeing. As a result, the market for healthy snack alternatives is growing. Another trend being seen in this area is snacks with clean labels. As the Asia Pacific region becomes increasingly urban with better-developed urban grocery outlets, consumers are switching from dining at home and buying traditional street snacks from food bikes or truck to having packaged snacks easily available.

Due to rising demand from India and China, two emerging nations, the Asia-Pacific region is also home to the fastest-growing snacks market items. Urbanization and the spread of Western eating habits have made it easier for multinational corporations to enter the developing countries of the Asia-Pacific region. Over the research period, the Chinese snack food market had steady expansion, and during the projected period, more growth is anticipated. Furthermore, savoury snacks and other meal-replacing snacks like frozen and refrigerated goods are anticipated to continue popular. Big businesses are drawn to snacking categories and are purchasing smaller snacking companies in order to preserve their competitive edge. Even dairy and staples firms are aiming to capitalise on consumers' snacking habits with products like easy-to-eat and beautifully packaged yoghurts and multi-compartment packs.