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Snacks Production

Snacks Production

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Executive summary

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 over the five years to 2021. As the economy strengthened during most of the period, discretionary income levels climbed. In turn, consumer spending has boosted sales of potato and tortilla chips, along with nuts and seeds. Moreover, the emergence of artisanal goods, which are made with a higher degree of craftsmanship and command higher prices, has boosted revenue. However, increasing healthy eating trends and outside competition have dampened industry growth during the latter half of the period. Overall, industry revenue has increased an annualized 0.7% to $43.0 billion over the five years to 2021. As consumers have turned to snacking due to the COVID-19 (coronavirus) pandemic, industry revenue rose an estimated 3.5% in 2020 and is expected to increase 1.5% in 2021.
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Each report includes:

industry revenue;

industry profit;

industry margin;

industry employment;

industry major players;

industry key external drivers;

industry product & structure segmentation;

industry key trends;

industry Life Cycle;

industry Geographic Breakdown;

industry Key Success Factors;

industry Key statistics for previous years;

forecast of industry Key statistics for the next 5 years;

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Reference Wordlist

High barriers to entry mean that new companies struggle to enter an industry, while low barriers mean it is easy for new companies to enter an industry.

Compares the amount of money spent on capital (plant, machinery and equipment) with that spent on labor.
IBISWorld uses the ratio of depreciation to wages as a proxy for capital intensity. High capital intensity is more than $0.333 of capital to $1 of labor; medium is $0.125 to $0.333 of capital to $1 of labor; low is less than $0.125 of capital for every $1 of labor.

The dollar figures in the Key Statistics table, including forecasts, are adjusted for inflation using the current year (i.e. year published) as the base year. This removes the impact of changes in the purchasing power of the dollar, leaving only the "real" growth or decline in industry metrics. The inflation adjustments in IBISWorld’s reports are made using the US Bureau of Economic Analysis’ implicit GDP price deflator.

Spending on industry goods and services within the United States, regardless of their country of origin. It is derived by adding imports to industry revenue, and then subtracting exports.

Colloquial Terminology

Goods that are not made by machines, but rather, involve a high degree of human labor and craftsmanship.

A federal law enacted in 1972 that governs water pollution.

The increase in efficiency of production as the number of goods being produced increases.

A mixture of proteins found in wheat and other grains such as barley and rye. Individuals with Celiac disease cannot process gluten which is also the ingredient that gives dough its chewy texture.

Spreadable foodstuff created by crushing nuts such as peanuts or almonds.

When producers charge consumers a price for their product that is more than its nominal value.


Furthermore, shifting food consumption trends have affected the strategies of snack food producers during the period. Snacking habits have been on the rise in recent decades, with millennials accounting for the largest demographic. Additionally, health concerns about eating foods high in sodium, fat and sugar have made consumers wary of buying traditional snacks. While this has limited industry revenue over the past five years, it has also developed a niche market in the industry. Producers have introduced new varieties of existing products, such as reduced-fat and reduced-sodium brand extensions and new gluten-free and organic products, leading industry revenue to rise overall during the period. New premium products have helped boost revenue and profit, which has been aided by low input costs such as that of corn, which has risen just an annualized 1.0% during the five years 2021 and remains well below previous highs.

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