Latin America Snack Products Market was worth USD 53.9 billion in 2021 and is estimated to be growing at a CAGR of 6.9%, to reach USD 75.7 billion by 2027
Snacks are foods that are smaller than regular meals and are generally eaten in between meals. Snacks are prepared in a variety of forms including packaged snack products and other processed products as well as items made from fresh ingredients made at home. Traditionally, snacks are made from the ingredients available at home. With the spread of convenience stores, packaged snack foods became a significant business. Snack foods are typically designed to be portable, quick, and satisfying. Factors attributable to the growth of the market are evolving lifestyles and changing dietary habits, increasing demand for convenient and portable food products, increasing urbanization spurring the market growth. However, factors like string regulations and increased risk of obesity due to snack consumption are hindering the growth of the market.
based on
Type
Distribution Channel
Based on Type
Salted Snacks
Bakery Snacks
Confectionary
Speciality
Frozen Snacks
Based on Distribution Channel
Specialist Retailers
Internet Sales
Super Markets
Convenience Stores
Brazil
Argentina
Mexico
Rest of Latin America
Brazil is leading the market regionally due to the presence of market leaders and huge demographic base of snack-consuming individuals as well as a developed food industry. Argentina is the fastest growing region owing to rising disposable income, modernizing lifestyle and rapid adoption rate.
Based on Type Bakery snacks are holding the major share in the market due to their easy accessibility and ease of preparation as well as lower prices while salted snacks are expected to grow the fastest. Based on Distribution Channels Supermarkets hold the major share in the market due to easy accessibility while internet sales are expected to grow the fastest due to increasing popularity for online purchases and bulk orders.
Kellogg’s Company
Nestle Inc.
ConAgra Foods Inc.
Calbee, Inc., Frito Lay’s
Cadbury Schweppes PLC.
Ferrero Group
Hershey Foods
Meridian Foods
Wolfgang, PepsiCo
SK Food International
Bare Snacks
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