U.S.: Snack Food Market 2024

Snack Food Market Size in the U.S.

The U.S. snack food market rose slightly to $X in 2021, picking up by 2.8% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2013 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Snack food consumption peaked in 2021 and is expected to retain growth in the immediate term.

Snack Food Production in the U.S.

In value terms, snack food production rose slightly to $X in 2021. The total output value increased at an average annual rate of +2.5% from 2013 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 7.6% against the previous year. Snack food production peaked in 2021 and is likely to see gradual growth in the near future.

Snack Food Exports

Exports from the U.S.

In 2021, exports of snack food from the United States rose to X tons, picking up by 4.2% on 2020 figures. In general, exports, however, recorded a pronounced setback. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, snack food exports expanded markedly to $X in 2021. Overall, exports, however, continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Canada (X tons), Mexico (X tons) and the Philippines (X tons) were the main destinations of snack food exports from the United States, together comprising 55% of total exports.

From 2013 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +10.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) remains the key foreign market for snack food exports from the United States, comprising 34% of total exports. The second position in the ranking was held by Mexico ($X), with a 12% share of total exports. It was followed by the Philippines, with a 6.5% share.

From 2013 to 2021, the average annual growth rate of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+6.4% per year) and the Philippines (+3.2% per year).

Export Prices by Country

The average snack food export price stood at $X per ton in 2021, approximately equating the previous year. Over the last eight years, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2020 when the average export price increased by 11% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Snack Food Imports

Imports into the U.S.

For the seventh year in a row, the United States recorded growth in supplies from abroad of snack food, which increased by 15% to X tons in 2021. Over the period under review, imports saw resilient growth. The growth pace was the most rapid in 2016 with an increase of 41%. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, snack food imports soared to $X in 2021. In general, imports saw a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mexico (X tons) constituted the largest snack food supplier to the United States, accounting for a 57% share of total imports. Moreover, snack food imports from Mexico exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold. The third position in this ranking was taken by India (X tons), with a 4.3% share.

From 2013 to 2021, the average annual growth rate of volume from Mexico totaled +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+11.2% per year) and India (+7.6% per year).

In value terms, Mexico ($X), Canada ($X) and India ($X) were the largest snack food suppliers to the United States, together accounting for 77% of total imports. Israel, El Salvador and the Philippines lagged somewhat behind, together comprising a further 6.1%.

El Salvador, with a CAGR of +16.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average snack food import price stood at $X per ton in 2021, increasing by 7.6% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 12% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Israel ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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