Roasted Snacks Market, Analysis by Type (Nuts & Seeds, Cereals & Grains, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Stores, and Others), and Regional Forecast, 2024-2032

The roasted snacks industry is witnessing continuous growth in the global marketplace owing to the rapidly increasing demand for on-the-go, ready-to-eat, and convenient snacking solutions among individuals. Diversity in consumers' tastes and willingness to try a variety of snack products is anticipated to push the sales of roasted snacks within the global market. This factor enhances product sales and gives significant opportunities for innovation and new product launches. Furthermore, the industry pioneers are also focused on expanding their geographical presence to expand their consumer base, which is expected to support the market’s steady growth. For instance, in June 2022, the Indian Foxnut Company, a manufacturer of makhana (fox nut), announced the expansion of its distribution channel across major Indian cities. 

The strongly rising health consciousness among consumers led to the demand for healthy and balanced snacks. Thus, consumers worldwide are inclined toward snack products containing rich fiber, protein, and minerals. It encourages the companies to introduce new products using mixtures of roasted seeds, nuts, and grains to cater to the consumers' requirements.

The growing health and hygiene preference trend among users during the COVID-19 pandemic pushed the demand for packed snack products, including roasted nuts, seeds, and grains. The stay-at-home trend became a significant opportunity for the industry, especially for snacks packed in family sizes. According to the U.S. Census Bureau’s 2020-2019 Annual Survey of Manufactures (ASM), in the U.S., the snack products, including nuts and seeds snacks such as salted, roasted, cooked, or blanched segment recorded sales of USD 40.4 billion in 2020, a growth from USD 39.6 billion in 2019.

Key Insights

The report covers the following key insights:

Overview of the Roasted Snacks Market

• Supply Chain and Regulatory Analysis


• Drivers, Restraints, and Opportunities


• Impact of COVID-19 on the Global Roasted Snacks Market


• Key Developments

Segmentation

Analysis by Type

The nuts & seeds segment is anticipated to hold a major share of the global market. The availability of diversified products in sweet and savory flavors paired with rich nutritional value is the primary factor in the segment growth. Roasted nuts such as peanuts, almonds, cashews, and walnuts contain high-calorie, protein, and carbohydrates. While offering rich nutritional value, it is tasty and convenient to use. This is an additional demand-driving factor for the segment. Roasted seeds are a powerhouse of nutrients, offering protein, healthy fats, fiber, vitamins, and minerals. Roasted seeds come in a wide variety, such as pumpkin seeds, sunflower seeds, chia seeds, and others, each offering distinct flavor and texture. Moreover, industry players are introducing new products to intensify their market share and clientele base.

• For instance, in April 2024, Planters Nut & Chocolate Company, an American snack food company, launched two nut types combined with two new flavors, including buffalo sauce cashews and ranch almonds and cocoa cashews and espresso hazelnuts.

The grains and cereals segment is expected to grow considerably over the forecast period. Roasted grains can be transformed into a wide variety of delicious and convenient snack formats, such as roasted whole grains, grain-based snack mixes, puffed grain snacks, and others. Moreover, roasted grains also benefit trends such as organic and plant-based trends, further fueling its market growth.

Analysis by Distribution Channel

The hypermarket/supermarket segment is projected to exhibit a significant proportion of the global market as it offers a larger range of products in a single place. Furthermore, hassle-free shopping, convenience, and on-the-go purchasing experience support the segment growth.

The online retail store segment is anticipated to expand with a considerable CAGR during the forecast period. Increasing smartphone penetrations globally, transparency, and vast brand availability paired with easy home delivery are the primary driving factors for the segment growth. According to Mondelez International’s 2020 State of Snacking report, more than half of the adults in the U.S. started buying snacks through the online platform more often.

Analysis by Region

North America is expected to account for the largest proportion of the global roasted snacks market due to the strong consumer demand for roasted nuts, seeds, and cereals across the U.S. Health, convenience, and taste are the prominent trends that continue to shape the roasted snacks industry across the U.S., Canada, and Mexico. Furthermore, the increasing prevalence of on-the-go snacking and one-time-serve snacks across the region is likely to elevate the product demand in the upcoming years.

Asia Pacific is anticipated to expand with a significant growth rate owing to the increasing awareness of nutrient and protein-rich snacks among users. Increasing consumers' disposable income and spending on healthy snack foods are other prominent factors that positively impact the industry growth in the region.

Key Market Players

The report includes the profiles of key players such as Heritage Snacks & Food Co., Ltd., Biena Snacks, Don’t Go Nuts, SunOpta Inc., KP Snacks, Dabur India Ltd., Jayone Foods, Inc., Thanasi Foods LLC, PepsiCo Inc., and Diamond Foods LLC.

Key Developments

• In July 2023, IGA’s Exclusive Brands, a private label line, introduced a new line of snack nut varieties, including dry-roasted peanuts, honey-roasted peanuts, roasted almonds, and others.

• In January 2023, Nature’s Garden, an innovative and healthy snack food brand of Cibo Vita, launched their new artisanal roasted nuts innovations in 500+ Hudson locations. The new range includes hot BBQ almonds, Baja taco cashews, ghost pepper ranch almonds, and spicy dill cashews.