Is the snack market slowing? How changing habits are reshaping the industry

Is the snack food market heading for a slowdown? Discover how changing consumer habits, protein trends and healthier choices are reshaping snacking.

The global snack food market is booming. Revenues sit at over $287bn (€247bn) and are expected to surpass $386bn by 2031, powered by a projected 6.11% CAGR (Statista). Yet analysts warn of a potential slowdown, suggesting that changes in consumer behaviours and expectations are reshaping the market. So what’s behind these claims and could they possibly be true? As you’ve probably guessed, the question of whether the snacking sector is heading for a slowdown, is far more complex than a simple yes or no. “This is not a simple story of consumers abandoning snacking,” says Sally Lyons Wyatt, global EVP at market insights firm Circana. “It’s a story of snack occasions being reconfigured.” In other words, consumers aren’t necessarily snacking less, but they are becoming more selective about what, when and why they snack. What’s more, the definition of what constitutes a snack is changing. “A snack can now include yoghurts, fruits, cheeses, nuts, protein bars, functional drinks or a ...