Snac World - Official State of the Industry 2023 - 17
ECONOMIC
powerhouse
Snack industry thriving despite challenges.
by Michelle Smith
T
The snack industry is big business, with total
snack and snack-adjacent sales reaching $186.4
billion for the 52 weeks ending Jan. 1, which represents
27% of the food and beverage market in
the United States.
" The snack industry is a vital part of the US
economy, " said Christine Cochran, president and
chief executive officer of SNAC International. " We
employ 395,000 people and place $15 billion in
people's wallets from a wage standpoint. We also
generate a combined $11 billion in tax revenue for
federal and state governments. Snacking is such
a consistent part of Americans' lives that nearly
every US state generates more than $1 billion in
estimated sales annually. "
Although snacking saw a slight downturn during
the pandemic when people were not getting out,
it has returned in the past year, said Ray Florio,
managing partner for IRI Growth Consulting, whose
team prepared the " State of Snacking in the US "
report for SNAC International.
" Once you start to look at the last 52 weeks and
the last half year, it's really rallied back, " he said.
" The snacking landscape is a very vital and critical
part of the US economy. We need to make sure,
one, that we support it appropriately, and two, that
we actually recognize how important it is not just
from a consumption perspective but from an employment
perspective. There are a lot of people in
the United States who rely upon this industry doing
well for their livelihood. "
It hasn't been an easy couple of years for snack
makers dealing with constant price increases and
supply chain delays. And inflation is causing consumers
to change their shopping habits, with many
tightening their belts and trading down in their
snack choices to make ends meet.
" We produce products that meet the needs and
budgets of our consumers, " Ms. Cochran said.
" Our industry is durable and flexible and has proven
that in times of low inflation, high inflation and
during a global pandemic. I'm proud of the role our
SNAC members play here as they relentlessly innovate
to exceed consumer expectations. "
The snack industry is somewhat insulated from
economic downturns as people cut back in other
areas first.
" During the first six to nine months of an economic
downturn or a period of wallet tightening, the
things people cut back on are outside the grocery
2023 SNAC WORLD
17
©MovingMoment-stock.adobe.com
http://MovingMoment-stock.adobe.com
Snac World - Official State of the Industry 2023
Table of Contents for the Digital Edition of Snac World - Official State of the Industry 2023
Snac World - Official State of the Industry 2023 - Intro
Snac World - Official State of the Industry 2023 - 1
Snac World - Official State of the Industry 2023 - 2
Snac World - Official State of the Industry 2023 - 3
Snac World - Official State of the Industry 2023 - 4
Snac World - Official State of the Industry 2023 - 5
Snac World - Official State of the Industry 2023 - 6
Snac World - Official State of the Industry 2023 - 7
Snac World - Official State of the Industry 2023 - 8
Snac World - Official State of the Industry 2023 - 9
Snac World - Official State of the Industry 2023 - 10
Snac World - Official State of the Industry 2023 - 11
Snac World - Official State of the Industry 2023 - 12
Snac World - Official State of the Industry 2023 - 13
Snac World - Official State of the Industry 2023 - 14
Snac World - Official State of the Industry 2023 - 15
Snac World - Official State of the Industry 2023 - 16
Snac World - Official State of the Industry 2023 - 17
Snac World - Official State of the Industry 2023 - 18
Snac World - Official State of the Industry 2023 - 19
Snac World - Official State of the Industry 2023 - 20
Snac World - Official State of the Industry 2023 - 21
Snac World - Official State of the Industry 2023 - 22
Snac World - Official State of the Industry 2023 - 23
Snac World - Official State of the Industry 2023 - 24
Snac World - Official State of the Industry 2023 - 25
Snac World - Official State of the Industry 2023 - 26
Snac World - Official State of the Industry 2023 - 27
Snac World - Official State of the Industry 2023 - 28
Snac World - Official State of the Industry 2023 - 29
Snac World - Official State of the Industry 2023 - 30
Snac World - Official State of the Industry 2023 - 31
Snac World - Official State of the Industry 2023 - 32
Snac World - Official State of the Industry 2023 - 33
Snac World - Official State of the Industry 2023 - 34
Snac World - Official State of the Industry 2023 - 35
Snac World - Official State of the Industry 2023 - 35insert
Snac World - Official State of the Industry 2023 - 36insert
Snac World - Official State of the Industry 2023 - 38
Snac World - Official State of the Industry 2023 - 39
Snac World - Official State of the Industry 2023 - 37insert
Snac World - Official State of the Industry 2023 - 38insert
Snac World - Official State of the Industry 2023 - 38
Snac World - Official State of the Industry 2023 - 39
Snac World - Official State of the Industry 2023 - 39insert
Snac World - Official State of the Industry 2023 - 40insert
Snac World - Official State of the Industry 2023 - 40
Snac World - Official State of the Industry 2023 - 41
Snac World - Official State of the Industry 2023 - 42
Snac World - Official State of the Industry 2023 - 43
Snac World - Official State of the Industry 2023 - 44
Snac World - Official State of the Industry 2023 - 45
Snac World - Official State of the Industry 2023 - 45insert
Snac World - Official State of the Industry 2023 - 46insert
Snac World - Official State of the Industry 2023 - 46
Snac World - Official State of the Industry 2023 - 47
Snac World - Official State of the Industry 2023 - 47insert
Snac World - Official State of the Industry 2023 - 48insert
Snac World - Official State of the Industry 2023 - 48
Snac World - Official State of the Industry 2023 - 49
Snac World - Official State of the Industry 2023 - 49insert
Snac World - Official State of the Industry 2023 - 50insert
Snac World - Official State of the Industry 2023 - 50
Snac World - Official State of the Industry 2023 - 51
Snac World - Official State of the Industry 2023 - 52
Snac World - Official State of the Industry 2023 - 53
Snac World - Official State of the Industry 2023 - 54
Snac World - Official State of the Industry 2023 - 55
Snac World - Official State of the Industry 2023 - 56
Snac World - Official State of the Industry 2023 - 57
Snac World - Official State of the Industry 2023 - 58
Snac World - Official State of the Industry 2023 - 59
Snac World - Official State of the Industry 2023 - 60
Snac World - Official State of the Industry 2023 - 61
Snac World - Official State of the Industry 2023 - 62
Snac World - Official State of the Industry 2023 - 63
Snac World - Official State of the Industry 2023 - 64
https://www.nxtbook.com/sosland/sw/snac-world-official-state-of-the-industry-2024
https://www.nxtbook.com/sosland/sw/snac-world-official-state-of-the-industry-2023
https://www.nxtbook.com/sosland/sw/snac-world-official-state-of-the-industry-2022
https://www.nxtbook.com/sosland/sw/snac-world-official-state-of-the-industry-2021
https://www.nxtbook.com/sosland/sw/2020_08_01
https://www.nxtbook.com/sosland/sw/2020_02_01
https://www.nxtbook.com/sosland/sw/2019_08_01
https://www.nxtbook.com/sosland/sw/2019_02_01
https://www.nxtbook.com/sosland/sw/2018_08_01
https://www.nxtbook.com/sosland/sw/2018_02_01
https://www.nxtbook.com/sosland/sw/2017_11_01
https://www.nxtbook.com/sosland/sw/2017_08_01
https://www.nxtbook.com/sosland/sw/2017_05_01
https://www.nxtbook.com/sosland/sw/2017_02_01
https://www.nxtbook.com/sosland/sw/2016_11_01
https://www.nxtbook.com/sosland/sw/2016_08_01
https://www.nxtbook.com/sosland/sw/2016_05_01
https://www.nxtbook.com/sosland/sw/2016_02_01
https://www.nxtbook.com/sosland/sw/2015_11_01
https://www.nxtbook.com/sosland/sw/2015_08_01
https://www.nxtbook.com/sosland/sw/2015_05_01
https://www.nxtbook.com/sosland/sw/2015_02_01
https://www.nxtbook.com/sosland/sw/2014_11_01
https://www.nxtbook.com/sosland/sw/2014_08_01
https://www.nxtbook.com/sosland/sw/2014_05_01
https://www.nxtbook.com/sosland/sw/2014_02_01
https://www.nxtbook.com/sosland/sw/2013_11_01
https://www.nxtbook.com/sosland/sw/2013_08_01
https://www.nxtbook.com/sosland/sw/2013_05_01
https://www.nxtbook.com/sosland/sw/2013_02_01
https://www.nxtbook.com/sosland/sw/2012_11_01
https://www.nxtbook.com/sosland/sw/2012_08_01
https://www.nxtbook.com/sosland/sw/2012_05_01
https://www.nxtbook.com/sosland/sw/2012_02_01
https://www.nxtbook.com/sosland/sw/2011_11_01
https://www.nxtbook.com/sosland/sw/2011_08_01
https://www.nxtbook.com/sosland/sw/2011_05_01
https://www.nxtbook.com/sosland/sw/2011_02_01
https://www.nxtbook.com/sosland/sw/2010_11_01
https://www.nxtbook.com/sosland/sw/2010_08_01
https://www.nxtbook.com/sosland/sw/2010_05_01
https://www.nxtbook.com/sosland/sw/2010_02_01
https://www.nxtbook.com/sosland/sw/2009_11_01
https://www.nxtbook.com/sosland/sw/2009_08_01
https://www.nxtbook.com/sosland/sw/2009_05_01
https://www.nxtbook.com/sosland/sw/2009_02_01
https://www.nxtbook.com/sosland/sw/2008_12_01
https://www.nxtbook.com/sosland/sw/2008_10_01
https://www.nxtbook.com/sosland/sw/2008_08_01
https://www.nxtbook.com/sosland/sw/2008_04_01
https://www.nxtbookmedia.com