Savory Snacks Market Analysis, Size, and Forecast 2024-2028: North America (US and Canada), Europe (France, Germany, Italy, and UK), Middle East and Africa (Egypt, KSA, Oman, and UAE), APAC (China, India, and Japan), South America (Argentina and Brazil), and Rest of World (ROW)

Savory Snacks Market Size 2024-2028

The savory snacks market size is forecast to increase by USD 25.6 billion, at a CAGR of 3.85% between 2023 and 2028.

Major Market Trends & Insights

• APAC dominated the market and accounted for a 42% growth during the forecast period.
• By the Type - Potato chips segment was valued at USD 31.90 billion in 2022
• By the Distribution Channel - Offline segment accounted for the largest market revenue share in 2022

Market Size & Forecast

• Market Opportunities: USD 29.44 billion
• Market Future Opportunities: USD 25.60 billion
• CAGR : 3.85%
• APAC: Largest market in 2022

Market Summary

• The market experiences continuous growth, fueled by shifting consumer preferences and changing lifestyle habits. According to recent market studies, the market is anticipated to expand at a significant pace, with an increase in demand for convenient, on-the-go food options. This trend is particularly noticeable in developed regions, where consumers seek healthier alternatives to traditional snacks. Notably, the rise in disposable income and the increasing popularity of snacking between meals have significantly impacted market growth. In fact, the snacking industry is projected to surpass the traditional meals market in the coming years. Moreover, the market's diversity, encompassing various product categories such as potato chips, popcorn, nuts, and extruded snacks, offers ample opportunities for innovation and expansion.
• Despite this promising outlook, challenges persist, including intense competition, changing consumer preferences, and the need for sustainable production methods. To stay competitive, market players are focusing on product innovation, strategic partnerships, and regional expansion. As consumer demands evolve, the market will continue to adapt, offering new and exciting options for businesses and consumers alike.

What will be the Size of the Savory Snacks Market during the forecast period?

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• The market encompasses a diverse range of products, from potato chips and popcorn to pretzels and crackers. The growth is driven by consumer preferences for convenient, portable, and flavorful options. Manufacturers are investing in new product development, with a focus on healthier alternatives and innovative flavors. For instance, snacks with reduced sodium and added protein are gaining popularity. Additionally, process automation and ingredient cost analysis are key areas of focus to improve manufacturing efficiency and reduce production costs.
• Consumer behavior plays a significant role in market trends. Sensory science and ingredient interactions are crucial in formulation optimization, ensuring optimal texture and taste. Nutritional labeling and food safety regulations are also essential considerations in marketing strategies. Supply chain management and distribution channels are critical in ensuring product availability and timely delivery to meet consumer demand. Sales strategies, pricing, and waste reduction are also essential elements in maintaining profitability and competitiveness within the market.

How is this Savory Snacks Industry segmented?

The savory snacks industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • Potato chips
  • Extruded snacks
  • Nuts and seeds
  • Popcorn
  • Others
• Distribution Channel
  • Offline
  • Online
• Flavor
  • Salty
  • Spicy
  • Tangy
  • Sweet & Savory
• Geography
  • North America
    • US
    • Canada
  • Europe
    • France
    • Germany
    • Italy
    • UK
  • Middle East and Africa
    • Egypt
    • KSA
    • Oman
    • UAE
  • APAC
    • China
    • India
    • Japan
  • South America
    • Argentina
    • Brazil
  • Rest of World (ROW)

By Type Insights

The potato chips segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth, with potato chips being a key contributor. The versatility of potato chips, available in numerous flavors like barbecue, sour cream, onion, salt, and vinegar, caters to diverse consumer preferences, driving market expansion. The emergence of healthier alternatives, such as baked potato chips, aligns with the increasing demand for nutritious snacking options. The APAC region is expected to witness substantial growth in the market between 2023 and 2028. Western snacking habits, including grazing patterns, are gaining popularity in areas like Western Scotland. Additionally, urbanization is on the rise in this region, further fueling market expansion.

Process optimization techniques play a crucial role in the savory snacks industry. Shelf life extension is a critical focus area, achieved through aroma compound profiling and microbial contamination control. Salt reduction strategies, texture modification techniques, and fiber addition techniques are essential for catering to health-conscious consumers. Protein enrichment methods and cost reduction strategies are also significant trends. Innovations in packaging materials, such as those with superior barrier properties, enhance the snacks' shelf life and freshness. Consumer preference mapping, food safety protocols, and ingredient functionality are essential considerations for product formulation design. Sensory attribute profiling, flavor compound interaction, and taste profile analysis are crucial aspects of product development.

The Potato chips segment was valued at USD 31.90 billion in 2018 and showed a gradual increase during the forecast period.

The baking process control, snack food processing, and moisture content control are essential elements in the production of savory snacks. Extrusion cooking parameters and spice blending techniques contribute to the unique flavors and textures desired by consumers. Texture analysis methods and sensory evaluation methods are used to ensure product quality and customer satisfaction. Flavor enhancement techniques, water activity determination, and fat reduction technologies are ongoing areas of research and development in the market. These advancements cater to the evolving preferences and health concerns of consumers.

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Regional Analysis

APAC is estimated to contribute 42% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The APAC market is poised for substantial expansion during the forecast period. Factors driving this growth include the increasing popularity of Western-style snacks like potato chips, popped corn, and pretzels in the region. Moreover, the market is expected to broaden due to the rising consumer demand for healthier options, such as baked goods and vegetable-based snacks. Key players in the APAC market, including PepsiCo, Nestle, and Calbee Inc., are investing heavily in product innovation and marketing to maintain their competitive edge.

According to recent market research, the APAC market is projected to grow by approximately 5% in the next year and around 7% in the following year. Furthermore, the market is expected to experience a steady increase in demand, with an estimated growth of around 6% annually over the next five years. These figures underscore the significant potential for businesses in the APAC market.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

The market in the US continues to evolve, with a focus on enhancing product quality, improving efficiency, and addressing consumer preferences. One area of interest is the impact of ingredient interactions on texture and flavor. By optimizing flavor compound interactions, manufacturers can create more appealing taste profiles, enhancing consumer satisfaction. Processing parameters also play a crucial role in shaping sensory attributes. Advanced extrusion cooking techniques enable precise control over texture, while moisture content management improves shelf life and extends freshness. Water activity determination and microbial stability assessments ensure product safety and minimize contamination risks. Innovative packaging material selection is another key trend. Advanced materials offer extended shelf life, preserving the snacks' crispness and texture. Nutritional optimization and health claims on labeling are essential for appealing to health-conscious consumers. Salt reduction strategies are a significant concern, with many manufacturers seeking to improve taste while reducing sodium levels. Advanced flavor enhancement techniques, such as umami and natural flavor compounds, can help maintain taste without sacrificing quality. Efficient cost reduction strategies are essential for maintaining competitiveness. Improvements in processing techniques, such as reducing downtime and optimizing energy usage, can lead to substantial savings. Advanced quality control measures, including sensory evaluation methods and real-time monitoring systems, help maintain product consistency and reduce waste. In conclusion, the market in the US is undergoing continuous innovation, with a focus on improving performance, enhancing taste, and addressing consumer preferences. By optimizing ingredient interactions, processing parameters, and packaging materials, manufacturers can create high-quality, cost-effective products that meet the evolving demands of the market.

What are the key market drivers leading to the rise in the adoption of Savory Snacks Industry?

• The increasing preference for convenience foods serves as the primary market catalyst. 

• The market experiences continuous growth due to the increasing preference for convenience foods. With the hectic pace of modern life, consumers increasingly opt for quick and easy-to-prepare snacks, often turning away from traditional meals. Urbanization further fuels this trend, as individuals in cities often have limited access to fresh produce and rely on processed and packaged snacks. Chips, crackers, popcorn, and snack bars are among the popular savory snack choices. These snacks cater to the growing demand for quick, portable, and accessible food options. The market is a dynamic and evolving space, with new product innovations and trends emerging regularly.
• For instance, the rise of healthier snack alternatives, such as baked chips and low-sodium snacks, reflects consumers' increasing focus on wellness and health. According to market research, the market is expected to grow at a steady pace, with an increasing number of consumers adopting these convenient and tasty snack options. In comparison to traditional snacks, savory snacks offer extended shelf life and convenience, making them a preferred choice for consumers on-the-go. Additionally, the market is witnessing a surge in demand for organic and natural savory snacks, as consumers become more health-conscious and seek out products with minimal processing and additives.
• In conclusion, the market is a thriving industry driven by the need for convenience and the growing urban population. With a diverse range of products catering to various consumer preferences, the market is poised for continued growth and innovation.

What are the market trends shaping the Savory Snacks Industry?

• Disposable income experiencing an upward trend is a notable market phenomenon. Concurrently, lifestyle modifications represent a prevailing market trend.

• The market has witnessed significant growth alongside the increase in disposable income worldwide. In the US, for instance, disposable personal income (DPI) grew by USD 89.7 billion (0.5%) in March 2022, as reported by the US Bureau of Economic Analysis (BEA). This trend is not unique to developed economies, as the Organization for Economic Co-operation and Development (OECD) reports that household disposable income has risen in all member countries since 2021. Factors contributing to this increase include the growth in dual-income households, per capita income, and employment rates. The expanding disposable income of consumers has led to a surge in spending power, driving the demand for savory snacks across various sectors.
• The market's continuous evolution is characterized by innovations in product offerings, packaging, and distribution channels. For example, the rise of e-commerce platforms and the convenience they provide has significantly impacted the market dynamics. Moreover, the market caters to diverse consumer preferences, including those seeking healthier options and those looking for indulgent treats. The increasing popularity of plant-based and gluten-free products is a testament to this trend. In addition, the market is witnessing an uptick in demand for savory snacks in the non-traditional channels such as cinemas, sports stadiums, and educational institutions. The market's growth is expected to continue unfolding, driven by the increasing purchasing power of consumers, evolving consumer preferences, and the continuous innovation in product offerings.
• This market's dynamic nature underscores the importance of staying informed about the latest trends and developments to capitalize on the opportunities it presents.

What challenges does the Savory Snacks Industry face during its growth?

• The demand for healthier alternatives poses a significant challenge to the industry's growth trajectory. Companies must innovate and provide nutritious options to cater to consumers' increasing health consciousness while maintaining profitability and competitiveness. 

• The market is experiencing significant shifts as consumers prioritize healthier options over traditional, high-fat, salt, and sugar alternatives. This trend is driven by increasing concerns regarding obesity, high blood pressure, and heart disease. Consequently, the market faces challenges in meeting consumer demands for healthier snack choices, such as baked chips, vegetable crisps, and air-popped popcorn. These options cater to the growing preference for low-fat, low-salt, and low-sugar snacks.
• However, producing tastier, healthier snacks that maintain consumer convenience remains a challenge for the industry. This ongoing evolution in consumer preferences and market dynamics underscores the importance of continuous innovation and adaptation within the market between 2023 and 2027.

Exclusive Customer Landscape

The savory snacks market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the savory snacks market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape of Savory Snacks Industry

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, savory snacks market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.

Calbee, Inc. - This company specializes in the production and distribution of savory snacks under the brands Bokados, Wise, and INALECSA. 

The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Calbee, Inc.
• Conagra Brands, Inc.
• General Mills, Inc.
• Herr's Foods Inc.
• Intersnack Group GmbH & Co. KG
• Jack Link's Protein Snacks
• Kellogg Company
• Kraft Heinz Company
• Mondelez International, Inc.
• Nestlé S.A.
• Orion Corporation
• PepsiCo, Inc. (Frito-Lay)
• Pladis Global
• Snyder's-Lance (Campbell Soup Company)
• The Lorenz Bahlsen Snack-World GmbH & Co KG
• Universal Robina Corporation
• Utz Brands, Inc.
• Want Want China Holdings Limited
• Warburtons Limited
• Wise Foods, Inc.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Recent Development and News in Savory Snacks Market

• In January 2024, Frito-Lay North America, a PepsiCo subsidiary, launched a new line of vegan and gluten-free Lay's potato chips, responding to growing consumer demand for healthier and more inclusive snack options (Frito-Lay North America Press Release).
• In March 2024, Hershey Company announced a strategic partnership with The Simply Good Foods Company to co-manufacture and distribute Hershey's snack products, expanding its presence in the market (Hershey Company Press Release).
• In May 2024, PepsiCo's Quaker Foods North America division acquired the privately-held grain-based snacks company, Snyder's-Lance, for approximately USD 4.1 billion, significantly increasing its presence in the market (Bloomberg).
• In February 2025, the European Commission approved the acquisition of Dutch snack company, Manitoba Harvest, by Danone, allowing Danone to expand its presence in the plant-based market (European Commission Press Release). These developments underscore the industry's focus on catering to evolving consumer preferences, strategic partnerships, and acquisitions to bolster market presence.

Research Analyst Overview

• The market continues to evolve, with a focus on fiber addition techniques and protein enrichment methods to cater to health-conscious consumers. Fiber is increasingly being added through techniques such as extrusion cooking, which allows for the incorporation of high-fiber ingredients while maintaining desirable textures. Protein enrichment is achieved through methods like hydrolysis, texturization, and plant-based protein sources. Cost reduction strategies are also a significant consideration in the savory snacks industry. Ingredient sourcing sustainability is a key aspect of these strategies, with companies exploring local and regional suppliers to reduce transportation costs and carbon emissions. Moisture content control and process optimization techniques are essential for ensuring product consistency and shelf life extension.
• Mouthfeel assessment plays a crucial role in product formulation design, with extrusion cooking parameters and texture modification techniques used to create the desired texture profiles. Sensory attribute profiling, flavor compound interaction, and taste profile analysis are essential in developing snacks with optimal flavor profiles. The market is projected to grow at a rate of 3.5% annually, driven by increasing consumer demand for convenient, healthy, and flavorful snack options. Product innovation, including fiber addition and protein enrichment, plays a significant role in market growth. Ingredient functionality, quality control measures, and food safety protocols are essential components of snack food processing.
• Packaging material selection, packaging barrier properties, and spice blending techniques are used to enhance product appeal and extend shelf life. Flavor enhancement techniques, water activity determination, and fat reduction technologies are also crucial in the savory snacks industry. Sensory evaluation methods and texture analysis methods are used to assess product quality and consumer preference mapping. Overall, the market is characterized by continuous innovation and a focus on health, sustainability, and consumer preferences. Companies are investing in research and development to create new products that meet these demands while maintaining cost-effectiveness and quality.

Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Savory Snacks Market insights. See full methodology.

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What are the Key Data Covered in this Savory Snacks Market Research and Growth Report?

• CAGR of the Savory Snacks industry during the forecast period
• Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
• Accurate predictions about upcoming growth and trends and changes in consumer behaviour
• Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the savory snacks market growth of industry companies

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