Savory Snacks Market Size
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 4.53 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Savory Snacks Market Analysis
The Global Savory Snacks Market is projected to register a CAGR of 4.53% over the next five years.
The demand for organic snacking options is increasing due to the gaining health consciousness among consumers and the developing health issues resulting from hectic lifestyles. This changing trend has led savory snack manufacturers to develop snacking products containing fiber, energy, and proteins. Also, there is increasing consumer demand for nutritious products with limited ingredients or claims, like clean labels. Consumers are increasingly paying attention to the composition of food products and how this information is communicated on the packaging. Clean label responds to the growing consumer demand for information and transparency. This has fueled the market growth for healthy savory snacks, including roasted and lightly spiced nuts and seeds.
Moreover, the on-the-go snacking concept is linked to easy consumption and is relatively easier to handle, which savory snacks, like popcorn and potato chips, offer. Also, popcorn, nuts and seeds, and extruded snacks can help prevent people from getting too hungry for junk foods, as these serve as ideal eatables in between breaks or whenever people do not have time to cook.
Savory Snacks Industry Segmentation
Savory snacks are small servings of food with a salty or spicy flavor rather than a sweet one. The global savory snacks market is segmented by product type, distribution channel, and geography. Based on the product type, the market is segmented into potato chips, extruded snacks, nuts & seeds, popcorn, meat snacks, and others. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialist retailers, convenience stores, online channels, and others. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The report offers market size and forecasts in value (USD million) for the above segments.
| Type | |
| Potato Chips | |
| Extruded Snacks | |
| Nuts and Seeds | |
| Popcorn | |
| Meat Snacks | |
| Others |
| Distribution Channel | |
| Hypermarkets/Supermarkets | |
| Specialty Stores | |
| Online Store | |
| Convenience Stores | |
| Other Distribution Channels |
| Geography | |||||||||
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Savory Snacks Market Trends
This section covers the major market trends shaping the Savory Snacks Market according to our research experts:
Rising Demand for Convenient Snacking Options
Consumers are constantly seeking convenient snacking options that are being upgraded by significant manufacturers operating in the savory snacks market. Convenient snacks, like potato chips, extruded snacks, nuts and seeds, and popcorn, are becoming extremely popular, especially among the working population of the country and the rising young generation consumers due to their hectic lifestyles. The demand for convenient snacks is increasing due to changes in social and economic patterns and increased expenditure on food and beverage.
Because of the increased focus on fitness and physical well-being, health-conscious customers are increasingly gravitating toward healthier snack options, like low-fat savory snacks, indicating great market potential. As per the UN Comtrade, imports of nuts and dried fruits in South Africa increased from USD 2.7 million in 2017 to USD 5.3 million in 2021.
Savory snacking options help the consumers save time on cooking at home, especially in times of minor hunger urges, serve as convenient tiffin options for school/college-going children, and even in between work sessions. Due to the global pandemic, the shift in shopping behavior has seen a positive change in snacking behavior because of the growing in-home consumption.
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North America Holds the Major Share
The North American region dominates the global savory snack market as consumers prioritize the portability, convenience, and indulgence offered by savory snacks. Additionally, the snackification trend among the consumers in the region is an all-day habit, with snacking at least once a day among all ages consumers. The Frito-Lay Corporation is a dominant player in the savory snack market in the region. Chips/crisps and tortilla/corn chips are American consumers' two most popular snack selections, with chips/crisps capturing the highest value in sales. Different preparation techniques are expanding the flavor map especially roasted coconut kale chips, oven-roasted sweet potato chips, and a wide variety of roasted nuts, which are increasing the demand for savory snacks in the American market.
Moreover, savory snack manufacturers innovate products without artificial additives and preservatives, with less sodium or salt. They are non-GMO, thus benefiting health-conscious consumers while introducing innovative flavors and health-boosting ingredients to attract North American consumers. Thus, the increasing demand for organic snacks is also opening up newer avenues for savory snack manufacturers in the market studied.
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Savory Snacks Industry Overview
The Savory Snacks Market is highly competitive, with key players such as General Mills Inc., PepsiCo, Inc., The Kellogs Company, ConAgra Brands Inc., and ITC Limited.
Owing to the rapidly developing nature of the market, launching a new product has become one of the most important strategies to gain a competitive edge. The players in the market have also been adopting expansion as a key strategy, followed by mergers and acquisitions. These strategic moves have proven successful for global players seeking to strengthen their presence in the market. For instance, in November 2021, the Spookies brand of Truda Foods introduced the sweet corn flavor, a savory and sweet snack.
Savory Snacks Market Leaders
ConAgra Brands Inc.
General Mills Inc.
ITC Limited
The Kelloggs Company
PepsiCo Inc.
*Disclaimer: Major Players sorted in no particular order
Savory Snacks Market News
- In August 2022, Lays launched a premium potato chips range, Lays Gourmet. In addition to the launch, the company also unveiled a TVC film to promote and uniquely position its product among customers.
- In June 2022, Daily Crunch, maker of Uniquely Crunchy (TM) sprouted nut snacks launched two new flavors at the 2022 Summer Fancy Food Show. The flavors included cinnamon java sprouted nut medley and Nashville hot sprouted almonds.
- In May 2022, Walkers (United Kingdom) premium potato crisp brand sensations added a range of unique flavors for Queen’s jubilee. The flavors included spit-roast pork, apple sauce, baked cheese, and sweet honey.
Savory Snacks Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Potato Chips
5.1.2 Extruded Snacks
5.1.3 Nuts and Seeds
5.1.4 Popcorn
5.1.5 Meat Snacks
5.1.6 Others
5.2 Distribution Channel
5.2.1 Hypermarkets/Supermarkets
5.2.2 Specialty Stores
5.2.3 Online Store
5.2.4 Convenience Stores
5.2.5 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 Spain
5.3.2.4 France
5.3.2.5 Italy
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 United Arab Emirates
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 ConAgra Brands Inc.
6.3.2 General Mills, Inc.
6.3.3 Mondelez International, Inc.
6.3.4 ITC Limited
6.3.5 PepsiCo, Inc.
6.3.6 The Kelloggs Company
6.3.7 Arca Continental S.A.B. de C.V.
6.3.8 CALBEE, Inc.
6.3.9 Blue Diamonds Growers
6.3.10 Link Snacks Inc.
*List Not Exhaustive7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Savory Snacks Market Research FAQs
What is the study period of this market?
The Savory Snacks Market market is studied from 2016 - 2027.
What is the growth rate of Savory Snacks Market?
The Savory Snacks Market is growing at a CAGR of 4.53% over the next 5 years.
Which region has highest growth rate in Savory Snacks Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Savory Snacks Market?
North America holds highest share in 2021.
Who are the key players in Savory Snacks Market?
ConAgra Brands Inc., General Mills Inc., ITC Limited, The Kelloggs Company, PepsiCo Inc. are the major companies operating in Savory Snacks Market.
Savory Snacks Industry Report
Statistics for the 2023 Savory Snacks market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Savory Snacks analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
