Latin America Snack Products Market

Latin America Snack Products Market Size, Share, Growth (2022-2027)

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

Latin America Snack Products Market Overview

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.

Latin America Snack Products Market Segmentation

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

Latin America Snack Products Market Regional Analysis

• 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.

Latin America Snack Products Market Keyplayers

1. Kellogg’s Company

2. Nestle Inc.

3. ConAgra Foods Inc.

4. Calbee, Inc., Frito Lay’s

5. Cadbury Schweppes PLC.

6. Ferrero Group

7. Hershey Foods

8. Meridian Foods

9. Wolfgang, PepsiCo

10. SK Food International

11. Bare Snacks