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Home ➤ Food and Beverage ➤ Processed & Frozen Foods ➤ Savory Snacks Market
  • Home ➤ Food and Beverage ➤ Processed & Frozen Foods ➤ Savory Snacks Market

Global Savory Snacks Market; By Product (Potato Chips, Corn & Tortilla Chips, Nuts & Seeds, and Others); By Distribution Channel (Hypermarkets & Supermarkets, and Others); As well as by Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast: 2023-2032

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    • 1 Report Overview
    • 2 Market Dynamics
    • 3 Global Savory Snacks Market
      • 3.1 Product Analysis
      • 3.2 Distribution Channel Analysis
    • 4 Key Market Segments
      • 4.1 Product
      • 4.2 Distribution Channel
      • 4.3 Regional Analysis
    • 5 Key Regions and Countries Covered іn This Rероrt:
    • 6 Market share Analysis
    • 7 Key Market Players

    Report Overview

    The Global Savory Snacks Market size is expected to be worth around USD 376,786.85 million by 2032 from USD 249,700 million in 2022, growing at a CAGR of 4.7% during the forecast period 2022 to 2032.

    Food manufacturers are trying to meet the growing demand from consumers for healthier snack options. Consumers are increasingly choosing lighter, more convenient snacks to replace main meals due to hectic lifestyles and the increasing levels of urbanization.

    Savory Snacks Market Analysis By Region

    Market Dynamics

    A few trends emerged as a result of COVID-19 market restrictions. People who were stuck at home began to snack more, and key players like MondelA”z International and PepsiCo registered an increase in snack sales. Harris Poll 2021 found that 9 out of 10 Europeans said they snack more than ever before due to remote working in Europe and Russia. These factors are likely to support the revenue growth of the savory snacks industry.

    MondelA”z International’s 2020 State of Snacking Report shows that snacking became a way to escape the monotony of quarantine and provides comfort. 88% of those affected continued their snacking food habits. Many companies chose to digitally shift in order to capitalize on the new opportunities presented by the COVID-19 pandemic in the digital space and launched direct-to-consumer e-commerce platforms.

    PepsiCo launched two websites that allowed consumers to order a variety of its products in May 2020. Snacks.com allows consumers to order more than 100 Frito Lay products, including Tostitos and Lay’s as well as dips and crackers. Market growth will be driven by such initiatives from key market players.

    Trends in snacking are changing. Consumers today want to indulge, have fun, enjoy the good taste, and get added health benefits as well. This presents manufacturers with an additional opportunity. The Kerry Group published a report in January 2021 that found Gen-Xers and millennials are more open to trying new snacks. More than 80% of those aged 26 to 35 years claimed they like to try new flavors.

    This demographic loves mustard, black truffle, jalapeno, and black pepper. Manufacturers are now launching premium products to gain maximum popularity with this group. Dot’s Homestyle Pretzels launched its latest honey mustard flavor in May 2021.

    Consumer demand for healthier options is increasing across all categories of savory snacks. For a variety of reasons, consumers are looking for protein-based snacks. These include energy, muscle support, and weight loss. Manufacturers could win by creating products that combine great taste and convenience with healthy ingredients.

    Gosh!, a plant-based food company, launched its first product in January 2022. Snack Bites, which are ready-to-eat, chilled snacks, were launched in over 1,000 Aldi stores throughout the U.K. Consumers can choose from Moroccan Spiced Veg or plant-based Smokey BBQ Sweet potato. They are baked vegan-free of the top 14 allergens like gluten, soy, and nuts.

    Several key players are also expanding their product portfolios by acquiring savory snack brands to increase brand exposure and international expansion prospects. PepsiCo, which is also known as Be & Cheery in China, announced that it had acquired Hangzhou Haomusi Food Co. Ltd. for US$705 million. This acquisition would not only strengthen the company’s snack portfolio but also expand its customer base in China by taking advantage of the brand’s manufacturing and supply-chain expertise, as well as innovation and consumer insight capabilities.

    Global Savory Snacks Market

    Product Analysis

    In terms of ‘Product’, in 2021, the ‘Potato Chips’ segment accounted for the highest market share and is anticipated to continue dominating this market over the forecast period. The segment growth is expected to be boosted by the introduction of new flavors and roasted potato chips with added health benefits. Simply Roasted launched its new line of Better For You potato chips in April 2021. These crisps were made in Norfolk with a patented roasting method. The company spent approximately US$20 million and developed it over 10 years. The brand will launch chips in flavors like sea salt, mature cheese & red onions, and cider vinegar.

    The fastest expected growth is to be indexed between 2023 and 2032 will be by the ‘Nuts And Seeds’ segment. Nuts & seeds are good sources of protein and healthy fats as well as fibers, and vitamins. Consumers are increasingly concerned about their snacking habits and have shifted to roasted nuts & seeds. In October 2020, GOOD TO GO, a Canadian manufacturer of Keto-certified soft bake bars, announced that it would be expanding its product range by launching Savory Nut & Seeds Bites. A deluxe selection of nuts and super-seeds, including sunflower, pumpkin, hemp, and Chia seeds, makes up the nuts & seeds product category.

    Distribution Channel Analysis

    With respect to the ‘Distribution Channel’, in 2021, the biggest contribution to the global market was made by the ‘Hypermarkets And Supermarkets’ distribution channel segment. Demand is expected to increase in the event of changing consumer preferences and the availability of a wide range of products in different branded and private label formats. 360 Packaging published a June 2019 report. It found that 70% of snacks purchased in brick-and-mortar shops are not planned. Most supermarkets profit from this impulse buying behavior.

    Online distribution channels are expected to grow at the fastest rate over the forecast period. Online retail is changing the snacking landscape. This segment is expected to grow on account of the sales of snack categories. A number of online retailers, including Amazon, Walmart, and Target, have benefited from the shift to digital commerce. NPD Group published a report in November 2021 stating that the online channel is increasingly popular. 13% of snack options can be purchased online. 85% of these snacks are used as meal substitutes, or possibly alone. 22% are consumed at home or at work. These trends will likely drive the revenue growth of the online segment in the coming years.

    Key Market Segments

    Product

    • Potato Chips
    • Corn & Tortilla Chips
    • Nuts & Seeds
    • Popcorn
    • Pretzels
    • Others

    Distribution Channel

    • Hypermarkets & Supermarkets
    • Convenience Stores
    • Online
    • Others

    Regional Analysis

    In terms of revenue, the Asia Pacific accounted for the largest market share of this global market (39.2%). As a result of growing concerns about childhood obesity, countries like India, Japan, and China are spearheading this market’s growth in the Asia Pacific. Segments like popcorn, which have indexed a significant growth in sales, are now more readily available.

    A survey conducted by Harris Poll for MondelA”z International in February 2022 found that 250 Indian respondents were interested in snacking. It concluded that 74% prefer small meals per day and that snacking is healthier than large meals.

    Europe is a hot market for savory snacks, as they are enjoyed on many occasions by people in this region. This industry is driven by Spain and the U.K., where consumers eat on the go instead of whole meals. In countries like Germany, Norway, and the Netherlands, there is a rapid increase in the demand for savory snacks.

    New product launches, mergers, acquisitions, and other market activity are all good signs for regional growth. In November 2020, the Savourists, a UK-based brand, launched a savory bar in two flavors: Black Olive & Nori Seaweed and Sundried Tomato & Herb. Further options for the bar range will be available in Sainsbury’s “Taste of Future Bay”.

    Savory Snacks Market Regional Share

    Key Regions and Countries Covered іn This Rероrt:

    • North America
      • US
      • Canada
      • Mexico
    • Europe
      • Germany
      • UK
      • France
      • Italy
      • Russia
      • Spain
      • Rest of Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Rest of Asia-Pacific
    • South America
      • Brazil
      • Argentina
      • Rest of South America
    • MEA
      • GCC
      • South Africa
      • Israel
      • Rest of MEA

    Market share Analysis

    Due to a large number of players, both small and established, this industry is very competitive. In the savory snacks sector, industry players are constantly involved in product development and new flavor introductions. Companies’ profitability is dependent on effective marketing, well-trained sales staff, and efficient operations. Due to the growing number of health-conscious Consumers, manufacturers are diversifying their product lines.

    Kazoo introduced the first water-saving tortilla chip in September 2021. The snacks are made from 40% corn germ, and corn starch.

    Future Group announces plans to sell Terra Chips from the United States by March 2021 in India. Hain Celestial Group formed a joint venture to produce Terra Chips in India.

    Pretzel Pete-snacks manufacturer added Seasoned Pretzel Pieces to its product line of gourmet pretzel snacks in December 2020. These products are made from wheat flour and come in three flavors: Buffalo blue, Smokey bacon, and Cinnamon brown sugar.

    Savory Snacks Market Company Share

    Key Market Players

    Some of the major players in the savory snacks industry include:

    • PepsiCo
    • The Kellogg Company
    • Kraft Heinz Company
    • Conagra Brands Inc.
    • ITC Limited
    • ConAgra Foods
    • Kellogg Co.
    • General Mills Inc.
    • Hain Celestial
    • Blue Diamond Growers
    • Other Key Players

    For the Savory Snacks Market research study, the following years have been considered to estimate the market size:

    Attribute Report Details

    Market Size in 2022

    USD 249,700 Million

    Growth Rate

    4.7%

    Forecast Value in 2032

    USD 376,786.85 Million

    Historical Years

    2016-2020

    Base Year

    2021

    Estimated Year

    2022

    Short Term Projection Year

    2028

    Projected Year

    2023

    Long Term Projection Year

    2032

    Report Coverage

    Competitive Landscape, Revenue analysis, Company Share Analysis, Manufacturers Analysis, Volume by Manufacturers, Key Segments, Key company analysis, Market Trends, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis, strategy for existing players to grab maximum market share, and more.

    Regional Scope

    North America, Europe, Asia-Pacific, South America, Middle East & Africa

    Country Scope

    United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa

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    Frequently Asked Questions (FAQ)

    What is the projected CAGR at which the Savory Snacks Market is expected to grow at?

    The Savory Snacks Market is expected to grow at a CAGR of 4.7% (2023-2032).

    What is the size of the Savory Snacks Market in 2022?

    The Savory Snacks Market size is USD 249,700 million in 2022.

    Which region is more appealing for vendors employed in the Savory Snacks Market?

    In terms of revenue, the Asia Pacific accounted for the largest market share of this global market (39.2%).

    Name the key business areas for the Savory Snacks Market.

    The US, Canada, China, India, Brazil, South Africa, etc., are leading key areas of operation for the Savory Snacks Market.

    List the segments encompassed in this report on the Savory Snacks Market?

    Market.US has segmented the Savory Snacks Market by geography (North America, Europe, APAC, South America, And Middle East and South Africa). The market has been segmented By Product Potato Chips, Corn & Tortilla Chips, Nuts & Seeds, Popcorn, Pretzels, and Others. Distribution Channel Hypermarkets & Supermarkets, Convenience Stores, Online, and Others.

    Market Research Report Cover
    Savory Snacks Market

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    • PepsiCo
    • The Kellogg Company
    • Kraft Heinz Company
    • Conagra Brands Inc.
    • ITC Limited
    • ConAgra Foods
    • Kellogg Co.
    • General Mills Inc.
    • The Hain Celestial Group, Inc. Company Profile
    • Blue Diamond Growers
    • Other Key Players
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