Global Savory Snacks Market

Global Savory Snacks Market revenue was US$ XX Bn in 2019 and is expected to grow at XX% in forecast period.

 

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Global Savory Snacks Market Overview:

 

Savory snacks are instant and processed food that is manufactured from staple raw foods, for example, vegetables, fruits, grains, vegetable oils, starch, and seasonings. Savory snacks include potato chips, corn chips, puffed and baked snacks, popcorn, savory biscuits, peanuts, meat snacks, and other nut snacks. The increasing demand for convenient food products with an on-the-go trend for snacking options, mainly growing inclination for meat-based snacks. Savory snack producers have been coming up with varied product offerings in terms of new flavor profiles and shapes to gain consumer attention. There exists massive opportunity among companies with new product developments and innovations. Similarly, the regional players are expected to increase their market penetration with improved retail landscape and marketing strategies. Leading vendors in the global savory snacks market are PepsiCo, Kellogg, Kraft Foods, CALBEE, Mondelez International Inc., and Intersnack Gmbh & Co.

 

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.

 

Global Savory Snacks Market Dynamics:

 

The growing popularity of baked foods among consumers and increasing consumption of low-calorie snack items are the key drivers driving the growth of the global savory snacks market. The majority of snack producers are focussing on advertising their product offerings on the online platform with the help of e-retailers, not only through third-party portals but also through their own online shopping portals, for example, Link Snacks, through its Jack Link’s own online portal offers savory snack items. Social media platforms, like Facebook, Twitter, LinkedIn, and WhatsApp are also strong media for product promotion, which will boost the sales of savory snacks over the future. Savory snacks are prepared using raw materials, like fruits & vegetables, cereal grains, nuts, vegetable oils, and seasonings. The food processors are offering savory snacks that are generally baked or fried. Savory snack items, for example, chips, nuts & seeds, salted biscuits, cookies are popular among consumers globally.

 

Key Market Trends

 

Rising Popularity for Meat-based Snacks

 

With the rising consumer awareness about healthy snacking habits, consumers are looking for something that has more substance or staying power than chips and candies. This makes way for the presence of protein-rich snacks, like lean beef or turkey, in regular diet, which, in turn, enables the players in the market to come up with more meat-based snacking options.

 

Usually, meat snacks were typically carried in convenience stores, but as more consumers wanted healthier and leaner snacks, the more the retail channels are selling them. High market penetration and rising consumer demand for meat snacks are expected to drive the overall demand for savory snacks.

 

Global Savory Snacks Market Segmentation:

 

According to the product, potato chips held the largest share of the market and is expected to maintain its dominance over the estimated period. Overview of new products with different flavors to meet the customer preferences which are health favorable is expected to have a positive impact on market growth. Potato chips are reasonable snacks that are popular among all age groups.

 

On the basis of the distribution channel, convenience stores are expected to account for the largest share of the market revenue over the forecast period. Convenience stores are built with an idea that customers can purchase their required products in an easy way. Obtainability of a varied range of products and a rising number of consumers preferring convenience stores is expected to drive the market.

 

Region-wise, the Asia Pacific held the largest market share of the savory snacks market and is expected to maintain its dominance in the future. The presence of numerous manufacturers in the region is expected to fuel the growth of the savory snacks market. Furthermore, the market in Europe is expected to grow over the forecast period, on account of consumers choosing savory snacks as an instant energy booster instead of a whole meal. The market is driven by demand for savory snacks in countries such as the UK, Spain, Germany, and the Netherlands.

 

The objective of the report is to present a comprehensive analysis of the Global Savory Snacks Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Savory Snacks Market dynamics, structure by analyzing the market segments and project the Global Savory Snacks Market size. Clear representation of competitive analysis of key players by application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Savory Snacks Market make the report investor’s guide.

 

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Scope of the Global Savory Snacks Market : Inquire before buying

 

Global Savory Snacks Market, By Product

 

  • Potato chips
  • Nuts & seeds
  • Extruded snacks
  • Popcorn
  • Others

 

Global Savory Snacks Market, By Distribution Channel

 

  • Convenience stores
  • Supermarkets
  • Retailers
  • Others

 

Global Savory Snacks Market, By Region

 

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

 

Key players operating in the Global Savory Snacks Market

 

  • Kraft Foods
  • Conagra Brands, Inc.
  • PepsiCo, Inc.
  • Calbee Foods Co Ltd.
  • Intersnack Gmbh & Co
  • Mondelez International Inc.
  • Blue Diamond Growers
  • General Mills Inc.
  • Lamb Weston Holdings, Inc.
  • The Hain Celestial Group

 

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