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Savory Snacks Market

Savory Snacks Market: Segmented: By Product (French Fries, Potato Chips, Nuts & Seeds, Puffed Snacks, Tortillas and Others), By Flavor (Barbeque, Spice, Salty, Plain/Unflavored), By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Specialty Retailers, Online Stores, and Others) And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032

Published on: Nov-2022
Report Code: FG F&B 01274
No. of Pages: 170-350
Report Format: PDF

[170+ Pages Research Report] Savory Snacks market to surpass USD 388.19 billion by 2032 from USD 227.2 billion in 2021 at a CAGR of 5% in the coming years, i.e., 2022-32.

Product Overview

Savory snacks are convenience food items that have spicy or salty flavors rather than a sweet profile. These food items are made using different seasonings, vegetables, grains, fruits, and nuts. They are ready-to-eat food products and are very popular due to their long shelf life and time-saving nature. Savory snacks are widely consumed on various occasions and in between meals. There are a variety of savory snacks such as French fries, tortillas, puffed snacks, popcorn, potato chips, extruded snacks, and nuts & seeds. Savory snacks are easily available at various online stores, supermarkets/hypermarkets, specialty stores, and convenience stores.

Market Highlights

Savory Snacks market is expected to project a notable CAGR of 5% in 2032.

Growing consumption of convenience food, increasing demand for healthy snacks, and expanding food and beverage industry are driving the growth of Savory Snacks market.

Savory Snacks Market: Segments

Potato Chips segment holds the largest share in the market

Savory Snacks market is classified on the basis of product into French Fries, Potato Chips, Nuts & Seeds, Puffed Snacks, Tortillas and Others. Potato Chips segment is dominating the market with the largest share. The growth is attributed to the rich flavor, easy availability, and cheap price of potato chips. Manufacturers have introduced new product variants seeking the wide consumption of potato chips across the globe.

Supermarkets and Hypermarkets segment holds the largest share in the market

Savory Snacks market is classified on the basis of distribution channel Supermarkets and Hypermarkets, Convenience Stores, Specialty Retailers, Online Stores, and Others. Supermarkets and Hypermarkets segment is dominating the market with the largest share. Supermarkets and Hypermarkets have specific section for snacks where a wide variety of snacks are easily available. Customers tend to purchase snacks in large quantities from supermarkets and hypermarkets. Furthermore, Online Stores are gaining traction owing to the growing shift towards online shopping of groceries and other food

Market Dynamics                                            

Drivers

Growth in the Consumption of Convenience Food

In today’s fast-paced world, customers are gravitating towards food products that are equally delicious, ready-to-eat, and take less time and effort to prepare. Growing working population and hectic schedules of consumers have inculcated snacking habits in them. Savory snacks are easily available, have a variety of flavors, and are low cost which is why they have become super popular among all age groups consumers. Moreover, increasing urbanization, and rising disposable income have also contributed to the growth of Savory Snacks market

Increasing Demand of Healthy Snacks & Expansion of Food and Beverage Industry

Consumers are becoming health conscious and they have awareness related of ill health effects of consuming an unhealthy diets. Therefore, the demand for healthy snacks which are gluten-free, protein-rich, low-fat, and organic has increased considerably. Manufacturers are working on development of new products with enhanced flavor. Furthermore, increasing investments in developing nations by key market players has resulted in the expansion of food and retail industry, which is boosting the growth of the market.

Restraint

Adverse Health Issues Related to the Consumption of Snacks

Over consumption of packaged food items or savory snacks containing artificial additives and preservatives can lead to weight gain, obesity, cardiovascular diseases, diabetes, and other health issues, which is a major constraint in the growth of Savory Snacks market.

Recent Developments

  • In January 2020, Lay’s Cheddar Jalapeño, Lay’s Kettle Cooked Flamin’ Hot, and Lay’s Poppables Sea Salt and Vinegar were the three new chip flavors introduced by Lay’s in the United States.

Savory Snacks Market: Key Players
  • PepsiCo
  • Kraft Heinz Company
  • The Lorenz Bahlsen Snack-World GmbH & Co KG
  • Premium Brands Holdings Corporation
  • Diamond Foods LLC.
  • CALBEE, Inc.
  • JACK LINK'S, LLC.
  • Orkla ASA
  • Conagra Brands, Inc.
  • General Mills, Inc.
  • Intersnack Group GmbH & Co. KG
  • Kellogg Co.
  • Mondelez International
  • ITC Limited
  • Nestle SA 
  • Other Prominent Players

Savory Snacks Market: Regions

Savory Snacks market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America is dominating the market with the largest share. The growth is attributed to the huge consumption of convenience food items, growing demand for healthy snacks, and growing habit of snacking among young population. Furthermore, Asia Pacific is expected to grow with the highest CAGR owing to the rapid urbanization and changes in the lifestyle.

Impact of Covid-19 on Savory Snacks Market

Covid-19 had severely affected economic activities across the world. Many countries had to impose lockdowns and strict social distancing norms in order to control the spread of Coronavirus. Consumers were spending more time at home, their consumption of savory snacks increased significantly as there were very few fast-food options. Consumers shifted to online stores for buying various food and other items. Moreover, the demand for health snacks increased considerably during the pandemic which had a positive impact on Savory Snacks market.

Savory Snacks Market is further segmented by region into:

  • North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
  • Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
  • Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
  • Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
  • Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Savory Snacks Market report also contains analysis on:

Savory Snacks Market Segments:

  • By Product 
    • French Fries
    • Potato Chips
    • Nuts & Seeds
    • Puffed Snacks
    • Tortillas
    • Others 
  • By Flavor 
    • Barbeque
    • Spice
    • Salty
    • Plain/Unflavored 
  • By Distribution Channel
    • Supermarkets And Hypermarkets
    • Convenience Stores
    • Specialty Retailers
    • Online Stores
    • Others 
  • Savory Snacks Market Dynamics
  • Savory Snacks Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies Involved in the Market
  • Value Chain of the Market
  • Market Drivers and Restraints

Savory Snacks Market Report Scope and Segmentation

Report Attribute Details
Market size value in 2021 USD 227.2 billion
Revenue forecast in 2032 USD 388.19 billion
Growth Rate CAGR of 5% from 2022 to 2032
Base year for estimation 2021
Quantitative units Revenue in USD million and CAGR from 2022 to 2032
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Product, Flavor, Distribution Channel, and Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled PepsiCo, Kraft Heinz Company, The Lorenz Bahlsen Snack-World GmbH & Co KG, Premium Brands Holdings Corporation, Diamond Foods LLC., CALBEE, Inc., JACK LINK'S, LLC., Orkla ASA, Conagra Brands, Inc., General Mills, Inc., Intersnack Group GmbH & Co. KG, Kellogg Co., Mondelez International, ITC Limited, Nestle SA, and Other Prominent Players

Frequently Asked Questions (FAQ):

Savory Snacks market size was estimated at USD 227.2 billion in 2021 and is expected to reach USD 388.19 billion in 2032.

Savory snacks are convenience food items which have spicy or salty flavor rather than a sweet profile. These food items are made using different seasonings, vegetables, grains, fruits, and nuts. They are ready-to eat food products and are very popular due to their long shelf life and time saving nature.

Potato Chips, and Hypermarkets and Supermarkets segment accounted for the largest Savory Snacks market share.

Key players: PepsiCo, Kraft Heinz Company, The Lorenz Bahlsen Snack-World GmbH & Co KG, Premium Brands Holdings Corporation, Diamond Foods LLC., CALBEE, Inc., JACK LINK'S, LLC., Orkla ASA, Conagra Brands, Inc., General Mills, Inc., Intersnack Group GmbH & Co. KG, Kellogg Co., Mondelez International, ITC Limited, Nestle SA, and Other Prominent Players are the key players in the Savory Snacks market.

Growth in the Consumption of Convenience Food and Growing Demand of Healthy Snacks & Expansion of Food and Beverage Industry are the factors driving the Savory Snacks market.

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