In this piece, we will look at 20 Biggest Snack Companies in the World. If you want to skip our analysis on the global snack food market, you can go directly to 5 Biggest Snack Companies in the World.
So, the snack food market is on the up and up. It’s expected to go from $236.91 billion in 2023 to $252.36 billion in 2024, with a growth rate of 6.5%. And looking ahead, by 2028, it’s predicted to hit $317.43 billion, growing at a rate of 5.9%. Snack time just keeps getting bigger and better. The snack game is getting more exciting with new flavors and shapes popping up, and more people are reaching for those healthier low-calorie options. It’s all about snacking smart and enjoying every bite! Nestlé rocked the snack market in 2023 with sales hitting around $103.9 billion. So, after Nestlé in the snack and bakery realm, we’ve got PepsiCo strutting their stuff, earning $86.4 billion in the same year. With Frito-Lay under their wing, they’re the big shots in the U.S. snack market, dishing out all those yummy chips and snacks. According to YouGov, M&M’s is ranked as the most popular snack item in the U.S. as of 2023.
Chips and Crackers are found to be the most unhealthy snacks eaten in the U.S. Potato chips might hit the spot when you’re craving something crunchy, but they’re not exactly a nutritional powerhouse. And crackers, well, they might not keep those hunger pangs at bay for long. They’re low on fiber, high in sodium, and they won’t give you that energy boost you need to power through the afternoon. So, while they might be tasty, don’t expect them to keep you feeling satisfied and energized for long!
Hence, the global healthy snacks market is on the rise. It’s predicted to hit a whopping $152.55 billion by 2030, cruising along at a cool 6.7% growth rate from 2023 to 2030. People are really getting into the whole healthy snacking vibe lately. They’re all about snacks that are not just convenient, but also packed with all the good stuff like essential vitamins and proteins, while keeping those pesky calories in check. And with everyone being on the go these days, the demand for quick snacks is shooting up. Plus, more folks have the cash to splash on these tasty, good-for-you treats, so the snack industry is set to keep booming in the years to come.
A closeup of a variety of snack pies, fresh out of the oven, on a silverplatter.
Methodology
To curate our list of 20 Biggest Snack Companies in the World, we looked up Finviz to list down and rank the 20 Biggest Snack Companies in the World. Please note, Mars Inc. is included for their strong reputation and name in the snacking industry, despite it not being a publicly-listed company. Rest are all ranked upon the market capitalization, as gathered from Finviz. With this, let’s jump to our list of 20 Biggest Snack Companies in the World.
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20. Mars Inc.
Market Capitalization: N/A
As one of the world’s largest snack companies, Mars Inc. is a prominent player in the snacking industry, even though it is privately owned. Known for creating brands that bring moments of happiness, Mars’ products such as M&M’S®, SNICKERS®, ORBIT®, EXTRA®, Skittles®, and KIND® are enjoyed globally since so many decades, few of which were invented a century ago.
In 2023, Mars generated $50 billion in revenue, with $18 billion from its snacking division, encompassing popular candies, chewing gum brands, and nutrition bars. Mars aims to double its snacking revenue to $36 billion in the coming decade, as revealed in its strategy to Forbes.
19. PT Siantar Top Tbk (ISX:STTP)
Market Capitalization: $838 million
PT Siantar Top Tbk (ISX:STTP), one of the major snack companies worldwide, is an Indonesian snack and consumer goods company based in Sidoarjo, East Java. They’ve got a cool lineup of snacks like Spix Soba Mie Sedap, Mie Gemez & Gemez Enaak, Twistko, and more.
In September 2023, PT Siantar Top Tbk (ISX:STTP) operating income hit $19.1 million for the quarter, and $65.9 million for the trailing twelve months.
18. JBS S.A. (Other OTC:JBSAY)
Market Capitalization: $1.21 billion
JBS S.A. (Other OTC:JBSAY) has grown into a snack giant, blending Indian sweets and snacks with an African flair that Londoners just can’t get enough of! From traditional treats to fiery snacks, they’ve got something for everyone.
But even with all that tasty success, in the fiscal third quarter ending 30 September 2023, JBS S.A. (Other OTC:JBSAY) saw a dip in net income by a solid 84.7% compared to the previous year, landing at $117.3 million. Their net revenue for the quarter was at $18.7 billion, just a slight drop from $18.8 billion a year ago. Despite the stumble, JB Foods is still stirring up big flavors in the snack world!
17. WK Kellogg Co (NYSE:KLG)
Market Capitalization: $1.36 billion
Kellanova is this huge American snack powerhouse based in Chicago, Illinois. Their subsidiary WK Kellogg Co (NYSE:KLG) serves up iconic treats like Cheez-It, Pringles, Pop-Tarts, Eggo, and more! After their latest earnings report, ten big shot analysts are eyeing WK Kellogg Co (NYSE:KLG) 2024 revenues to hit US$2.71 billion, staying consistent with the past year. And hey, the word on the street is that their earnings per share are set to grow by a tasty 12% to reach US$1.44.
16. Utz Brands, Inc. (NYSE:UTZ)
Market Capitalization: $1.44 billion
Utz Brands, Inc. (NYSE:UTZ), based in Hanover, Pennsylvania, is one of the snack giants in the game. They whip up all kinds of tasty treats like potato chips and pretzels, selling them under their big family of brands. Utz Brands, Inc. (NYSE:UTZ) is the go-to for warehouse clubs and stores looking to stock up on snacks. Recently, they’ve made a deal to sell off some assets and brands to Our Home™ for a cool USD 182.5 million. The sale is set to wrap up on February 5, 2024. Utz is keeping things crispy and delicious in the snack world!
15. ORION Corp. (KSE:271560.KS)
Market Capitalization: $2.7 billion
ORION Corp. (KSE:271560.KS), a big shot in the snack world, hails from South Korea and is famous for its iconic Choco Pie. This confectionery powerhouse, born in 1956 as Tongyang Confectionery Corp., cranks out all kinds of treats like biscuits, cookies, crackers, and more.
In the first nine months of 2023, ORION Corp. (KSE:271560.KS) raked in a sweet profit of $42.2 million from its Vietnam operations for the nine month, marking an 8.6% jump from the previous year. Their total sales in Vietnam hit $243.9 million, up 3.2%. Looks like Orion’s keeping the snack game strong!
14. CJ Cheiljedang Corporation (KSE:097950.KS)
Market Capitalization: $3.42 billion
CJ Cheiljedang Corporation (KSE:097950.KS) is this rad South Korean food company that’s all about serving up tasty treats, healthy snacks, and even some cool biotech stuff from Seoul. CJ Cheiljedang Corporation (KSE:097950.KS) brand CJ Foods has these awesome goodies like their modern take on fried seaweed, Matbam with natural chestnuts, and Petitzel for all your dessert dreams. And guess what? They crushed it with a 2023 fourth-quarter net profit of $114.4 million, a whopping 99.1% jump from last year. Their operating income also saw a nice 24% increase to $225.4 million, but sales took a tiny dip by 3.7% to $5.5 billion.
13. The J. M. Smucker Company (NYSE:SJM)
Market Capitalization: $4.42 billion
The J. M. Smucker Company (NYSE:SJM), a snack heavyweight hailing from Orrville, Ohio, has been dishing out delicious treats since way back in 1897, starting with their famous apple butter. In the second quarter of 2023 ending October, they hit a bump with a $266.5 million drop in net sales, but when you factor out pet food sales from last year and some currency exchange hiccups, their net sales actually went up by $121.0 million, a solid 7% rise. Smuckers is still rockin’ the snack game! Oh, and The J. M. Smucker Company (NYSE:SJM) recently sealed the deal to acquire Hostess Brands, which has a yummy lineup of sweet treats like Twinkies and Donettes.
12. Campbell Soup Company (NYSE:CPB)
Market Capitalization: $12.5 billion
12th on our list of Biggest Snack Companies in the World is Campbell Soup Company. As one of the largest snack companies globally, Campbell Soup Company (NYSE:CPB), known as Campbell’s, offers a diverse range of snack products including Goldfish®, Pepperidge Farm® Cookies, Pace® Salsa & Sauces, Kettle Brand, Milano Cookies, Archway, Pretzel Crisps®, Cape Cod®, and Snyder’s of Hanover.
In the quarter ending January 31, 2024, Campbell Soup Company (NYSE:CPB) recorded a gross profit of $776 million, marking a 2.24% year-over-year increase. The annual gross profit for the twelve months ending January 31, 2024, totaled $2.888 billion, reflecting a 2.09% increase from the previous year. In 2023, their annual gross profit reached $2.917 billion, showing an 11.04% increase from 2022.
11. Conagra Brands, Inc. (NYSE:CAG)
Market Capitalization: $13.55 billion
Conagra Brands, Inc. (NYSE:CAG), based in Chicago, is a snack powerhouse with a lineup of awesome brands like Birds Eye, Duncan Hines, Healthy Choice, and more that you’ll find in stores, restaurants, and food service spots worldwide.
In the second quarter of 2023 ending November, Conagra Brands, Inc. (NYSE:CAG) net sales took a slight hit, dropping 3.2% from the previous year, with organic net sales falling 3.4%. Their operating margin landed at 14.0%, showing a slight dip of 261 basis points from the prior year, while the adjusted operating margin was 15.9%, down by 108 basis points. Looks like Conagra is still cooking up big snack flavors!
10. Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBOA.MX)
Market Capitalization: $18.7 billion
Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBOA.MX) is one of the big dogs in the snack world, hailing from Mexico and making a splash in 33 countries across the globe. With a massive annual sales volume of $15 billion, they’re no small fry. Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBOA.MX) snack lineup is stacked with over 100 brands and 13,000 products, including hits like Bimbo, Entenmann’s, and Sara Lee.
But in the 4th quarter of 2023 ending 31 December, their net income fell short at MXN3.26 billion, below the expected MXN4.76 billion. Their operating income also didn’t quite hit the mark, coming in at MXN8.15 billion instead of the estimated MXN9.22 billion. Bimbo’s still a snack giant, even if they hit a little bump in the road! Grupo Bimbo is 10th company on our list of Biggest Snack Companies in the World.
9. Tyson Foods, Inc. (NYSE:TSN)
Market Capitalization: $19.91 billion
One of the world’s largest snack companies, Tyson Foods, Inc. (NYSE:TSN), headquartered in Springdale, Arkansas, is a major player in the food industry. With a diverse range of products and brands such as Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp®, and State Fair®, the Tyson Foods, Inc. (NYSE:TSN) forecasts adjusted operating income of $800 million to $1 billion in fiscal 2024.
Expectations include enhanced performance from international operations and a total company adjusted operating income of $1.0 billion to $1.5 billion for fiscal 2024.
8. Archer-Daniels-Midland Company (NYSE:ADM)
Market Capitalization: $31.08 billion
One of the leading snack companies globally, Archer-Daniels-Midland Company (NYSE:ADM), also known as ADM, is an American multinational food processing and commodities trading corporation established in 1902 and based in Chicago, Illinois. ADM’s diverse range of snack offerings, from meat snacks to puffed snacks, features global and spicy flavor profiles that are reshaping the snack industry.
Anticipating adjusted earnings per share between $5.25 to $6.25 for 2024, Archer-Daniels-Midland Company (NYSE:ADM) factors in moderating margin conditions and increased costs balanced by enhanced volumes. Archer-Daniels-Midland Company is 6th company on our list of Biggest Snack Companies in the World.
7. General Mills, Inc. (NYSE:GIS)
Market Capitalization: $37.5 billion
As one of the largest snack companies globally, General Mills, Inc. (NYSE:GIS) promotes several popular North American brands, such as Gold Medal flour, Annie’s Homegrown, Lärabar, Cascadian Farm, Betty Crocker, Yoplait, Nature Valley, Totino’s, Pillsbury, Old El Paso, and Häagen-Dazs.
General Mills, Inc. (NYSE:GIS) adjusted operating profit rose by 13%, reaching $989 million in constant currency, attributed to increased adjusted gross profit and decreased compensation and benefits expenses. The adjusted operating profit margin also improved by 240 basis points, reaching 19.3%.
6. The Hershey Company (NYSE:HSY)
Market Capitalization: $39.95 billion
6th on our list of Biggest Snack Companies in the World is The Hershey Company.
The Hershey Company (NYSE:HSY), a top player in the global snack industry, is a multinational confectionery giant located in Hershey, Pennsylvania, USA. Known for iconic brands like Hershey’s, The Hershey Company (NYSE:HSY) offers a wide array of delectable treats, from chocolates to mints. Hershey predicts a modest 2-3% increase in net sales for 2024, slightly under analysts’ 3.4% projection. The company also foresees stable annual adjusted profit per share compared to the previous year.
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Disclosure: None. 20 Biggest Snack Companies in the World is originally published on Insider Monkey.