The global snacks markets grew in 2023, despite negative external factors, such as high inflation, the impact of the war in Ukraine on supply chains, climate change and currency devaluations. Supermarkets and small local grocers lead store-based retail in snacks. E-commerce snack sales have maintained momentum following the channel’s rapidly increased adoption during the COVID-19 pandemic, particularly in savoury snacks and confectionery.
This report comes in PPT.
The world snacks market continued to grow in constant value terms in 2022 and 2023, showing resilience in the context of the ongoing negative forces threatening the industry, such as high inflation, the impact of war on supply chains, climate change, and currency devaluations. Savoury snacks – the biggest category globally – continued to drive industry growth in 2023.
Supermarkets remain the leading offline channel globally. This leadership comes from the large number of outlets in this format, the vast assortment of products the channel is capable of offering, and the numerous innovations provided year-round. Small local grocers hold the second largest share for offline snack sales. 85% of sales of snacks via small local grocers are in emerging and developing countries.
With the still relatively low penetration of modern grocery retail channels in Tier 2 and Tier 3 cities and rural markets, the main choice for consumers remains small local grocers. 85% of snack sales via small local grocers come from emerging and developing countries. India has the highest sales of snacks through small local grocers compared to other developing markets.
Digitalisation and urbanisation, combined with the pandemic, have contributed to the strong growth of e-commerce globally. China is the leading market for e-commerce snack sales, with numerous platforms. For example, Xiaohongshu (which translates as Little Red Book) has more than 202 million users monthly, and provides recommendations including food, product reviews, travel trips, and direct-from-platform purchases.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!