Snack Food Production in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 31191Revenue
$49.1bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
66,013
Businesses
2,611
Wages
$X.Xbn
Snack Food Production in the US industry analysis
The Snack Food Production industry, which creates goods such as potato and corn chips, pretzels, roasted and salted nuts, peanut butter and popcorn, has benefited from increased demand. Discretionary income levels climbed as the economy grew during most of the period. In turn, consumer spending has boosted potato and tortilla chips, nuts and seeds sales. The emergence of artisanal goods, made with a higher degree of craftsmanship and command higher prices, has boosted revenue. As consumers turned to snacking during the pandemic, industry revenue climbed further. However, shifting snacking preferences have contributed to a drop in demand since 2021. Overall, industry revenue has increased at a CAGR of a mere 0.5% over the five years to 2024 to reach an anticipated $49.1 billion in 2024, despite a 3.3% drop in 2024.
Trends and Insights
- Discretionary spending parallels discretionary eating, as Americans snack more than ever, driven by solid consumer economic health. Consumers purchase costlier products, reflecting a trend where economic stability encourages indulging in higher-end snacks.
- Nuts top the food chart for snack manufacturers. Rising consumer health consciousness boosts demand for nuts. Their nutritional benefits, including healthy fats and proteins, make nuts a preferred choice for healthy snacking.
- Producers strategically locate near key markets, with the West hosting the most manufacturers. This allows easy access to major California cities, enhancing distribution efficiency and market reach.
- Innovation is at the heart of commercial success. Snack makers adapt to changing consumer preferences, introducing new varieties and healthier options.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.5 % over the past five years, to reach an estimated $49.1bn in 2024.
Trends and Insights
As healthier eating becomes more common, snacking trends change
- Americans' increasing focus on a snacking lifestyle and health-conscious mindset has brought a surge in healthier snack options. These include nutritious and delicious options such as nuts, protein-focused items like protein bars and shakes and low-carb snacks such as veggie chips and cheese crisps.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Snacking will remain on the rise moving forward
- In recent years, snack eating habits have significantly proliferated because of lifestyle changes. As consumers' lives become increasingly busier and they have less time to dedicate to meal preparation, the consumption of quick, convenient snack foods has noticeably increased.
Biggest companies in the Snack Food Production in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Pepsico, Inc. | 19,754.1 | 4,658.5 | 23.6 | |
Conagra Brands, Inc. | 4,269.2 | 651.1 | 15.3 | |
Campbell Soup Co | 3,989.0 | 675.1 | 16.9 |
To view the market share and analysis for all 7 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Potato chips, Nuts and seeds and Nut butters. Potato chips is the largest segment of the Snack Food Production in the US.
Trends and Insights
Nuts and seeds are preferred by consumers
- The nuts and nut butter segment comprises various salted or roasted nuts and seeds, such as peanuts, walnuts, sunflower and watermelon seeds. Demand for nuts and seeds has grown because consumers are increasingly aware of their health benefits.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Cereal Production in the US
- Bread Production in the US
- Cookie, Cracker & Pasta Production in the US
- Tortilla Production in the US
Complementors
- Corn Farming in the US
- Plastic Film, Sheet & Bag Manufacturing in the US
International industries
- Snack Food Production in Canada
- Cookie, Cracker & Pasta Production in Canada
- Potato, Corn and Other Chip Manufacturing in Australia
- Potato Crisps & Snacks Production in the UK
Table of Contents
About this industry
Industry definition
The Snack Food Production industry specializes in creating a variety of snack foods, including potato and corn chips, pretzels, roasted and salted nuts, nut butter, popcorn and other related snack items that our consumers crave.
What's included in this industry?
Producing nuts and nut butterProducing potato chipsProducing corn chipsProducing other snacks like popcorn, crackers and soft pretzelsCompanies
Pepsico, Inc.Conagra Brands, Inc.Campbell Soup CoPurchase this report to view all 7 major companies in this industry.
Related Terms
NUT BUTTERGLUTENPREMIUMARTISANALCLEAN WATER ACT (CWA)ECONOMIES OF SCALEIndustry Code
NAICS 31191 - Snack Food Production in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Discretionary spending parallels discretionary eating, as Americans snack more than ever, driven by solid consumer economic health. Consumers purchase costlier products, refl...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Nuts top the food chart for snack manufacturers. Rising consumer health consciousness boosts demand for nuts. Their nutritional benefits, including healthy fats and proteins,...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Producers strategically locate near key markets, with the West hosting the most manufacturers. This allows easy access to major California cities, enhancing distribution effi...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Innovation is at the heart of commercial success. Snack makers adapt to changing consumer preferences, introducing new varieties and healthier options.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
As the industry's largest player, PepsiCo can leverage its brand recognition and scale to dominate production. The company's extensive reach and resources allow it to maintai...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Pepsico, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Conagra Brands, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Campbell Soup Co's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 4 additional companies
Detailed analysis
- Description and key data for Pepsico, Inc., and factors influencing its performance in the industry
- Description and key data for Conagra Brands, Inc., and factors influencing its performance in the industry
- Description and key data for Campbell Soup Co, and factors influencing its performance in the industry
- Description, key data and performance trends for 4 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Tariffs play a crucial role in limiting competition from foreign producers. Various imported nuts face tariffs to protect domestic production. These measures aim to stabilize...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Unpredictable input costs contribute to volatile profits, yet companies largely pass rising costs to downstream markets. This trend reflects firms' efforts to maintain profit...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Snack Food Production in the US industry in United States in 2024?
The market size of the Snack Food Production in the US industry in United States is $49.1bn in 2024.
How many businesses are there in the Snack Food Production in the US industry in 2024?
There are 2,611 businesses in the Snack Food Production in the US industry in United States, which has declined at a CAGR of 3.6 % between 2019 and 2024.
Has the Snack Food Production in the US industry in United States grown or declined over the past 5 years?
The market size of the Snack Food Production in the US industry in United States has been growing at a CAGR of 0.5 % between 2019 and 2024.
What is the forecast growth of the Snack Food Production in the US industry in United States over the next 5 years?
Over the next five years, the Snack Food Production in the US industry in United States is expected to grow.
What are the biggest companies in the Snack Food Production in the US market in United States?
The biggest companies operating in the Snack Food Production market in United States are Pepsico, Inc., Conagra Brands, Inc. and Campbell Soup Co
What does the Snack Food Production in the US in United States include?
Producing nuts and nut butter and Producing potato chips are part of the Snack Food Production in the US industry.
Which companies have the highest market share in the Snack Food Production in the US in United States?
The company holding the most market share in United States is Pepsico, Inc..
How competitive is the Snack Food Production in the US industry in United States?
The level of competition is moderate and steady in the Snack Food Production in the US industry in United States.
