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The savory snacks market size is estimated to grow by USD 32.17 billion at a CAGR of 4.91% between 2022 and 2027. The expansion of the market share hinges on various factors, such as the increasing appetite for convenience foods, the proliferation of organized retail and e-commerce platforms, and the continual introduction of novel and innovative snack flavors. As consumer preferences evolve, the demand for convenient, on-the-go snack options continues to rise, driving market growth. Additionally, the expanding reach of organized retail and the convenience of online shopping are opening up new avenues for market players to reach consumers. The introduction of new and unique snack flavors is also playing a significant role in attracting consumers and expanding market share, highlighting the dynamic and competitive nature of the market.
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This market report extensively covers market segmentation by type (potato chips, extruded snacks, nuts and seeds, popcorn, and others), distribution channel (offline and online), and geography (APAC, North America, Europe, South America, and Middle East and Africa).
The market share growth by the potato chips segment will be significant during the forecast period. The market is experiencing significant growth due to busy lifestyles and rising standards of living. Consumers seek convenient, tasty, and affordable options, leading to the popularity of potato chips and other prepared foods. Product segmentation includes various flavors such as barbecue, sour cream, onion, salt, and vinegar, as well as spice-infused varieties like chili pepper extract.
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The potato chips segment was valued at USD 31.28 billion in 2017. Local flavors and spices add appeal, with product portfolios expanding to include low-price options, baked chips, and healthier alternatives like honey mustard and protein-based snacks. The snack food industry caters to impulse buying and easy availability through retail stores, supermarkets, and offline retailers. Urbanization in regions like APAC is driving demand, with millennials and Gen-Xers favoring snacking patterns like grazing. Brands like Simply Roasted and Aldi are capitalizing on this trend, offering flavors such as Norfolk Sea salt, Mature cheddar, and Moroccan Spiced Veg. The digital shift and hectic lifestyles continue to influence market expansion. Overall, potato chips continue to be a widely consumed snack food in the global market for savory snacks and are predicted to grow during the forecast period as consumers seek quick and delectable snack options.
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APAC is estimated to contribute 39% 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.
The APAC market is experiencing substantial growth due to changing consumption patterns and busy lifestyles. The increasing standard of living and demand for high-quality, local flavor snacks, including potato chips, popped corn, and pretzels, are key drivers. Major players like PepsiCo Inc., Nestle SA, and Calbee Inc. invest in product innovation and marketing to cater to this trend. Healthier snack options, such as baked goods and vegetable-based snacks, are also gaining popularity due to rising health consciousness.
Product segments like honey mustard, protein-based options, and Moroccan Spiced Veg are resonating with consumers. Brands like Simply Roasted, Norfolk, and Aldi stores are capitalizing on this trend by offering a wide range of snacks, including low-price, easy-to-find options. Urbanization and hectic lifestyles are fueling the demand for convenient, tasty snacks. The snack food industry is undergoing a digital shift, with millennials and Gen-Xers increasingly opting for online shopping. Impulse buying remains a significant factor, particularly in offline retail stores and supermarkets. Spices, such as chili pepper extract and natural colors, are being used to enhance product portfolios, catering to diverse tastes and preferences. The market is expected to continue growing, driven by these trends and the expanding retail landscape.
The market is experiencing significant growth due to shifting consumer preferences towards convenient and on-the-go food options in the context of hectic lifestyles and rising urbanization across different continents. The unorganized sector, including convenience stores and retail formats, plays a crucial role in catering to this customer desire. Intense competition among key players, such as Kellogg Company, drives innovation in the market. The market is witnessing a digital shift, with millennials and Gen-Xers increasingly opting for protein-based options and flavors like Honey mustard, Protein-based snacks offer satiety and contribute to muscle growth and healthy aging. The unmet need for nutrition and convenience has led to the emergence of new players and product offerings. For instance, Aldi stores have introduced Moroccan Spiced Veg as a healthy snack alternative. Overall, the market is expected to continue its expansion as consumers seek convenient, protein-rich, and flavorful options to meet their nutritional needs. Our researchers analyzed the data with 2022 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.
Growing demand for convenience foods is the key factor driving the growth of the market. The market is experiencing significant growth due to the increasing trend of convenience foods. With busy lifestyles and urbanization, people are turning to quick and easy-to-prepare snacks, such as chips, crackers, popcorn, and snack bars. As access to fresh produce becomes limited in urban areas, consumers increasingly rely on processed and packaged snacks. Meat-based refreshments, like jerky or meat sticks, offer satiety and protein, making them popular choices.
Furthermore, healthy eating habits are also driving demand for savory snacks with nutritious ingredients, such as red onion or cider vinegar. Customer desire for flavors and convenience has led to the popularity of extruded appetizers and pretzels in convenience stores and retail formats. However, health risks and calorie concerns associated with some convenience items may impact market growth. Urbanization levels continue to influence the food retail landscape, with franchise contracts and imported goods playing a role in market dynamics. Therefore, with the growing traction for quick and simple snack options, the demand for convenience foods will continue driving growth in the market during the forecast period.
A rise in disposable income and a lifestyle change is the primary trend in the market. The global increase in disposable income has led to a heightened demand for savory snacks. In the US, for instance, disposable personal income rose by USD89.7 billion (0.5%) in March 2022, according to the US Bureau of Economic Analysis. This trend is not limited to developed countries, as the Organization for Economic Co-operation and Development reports an increase in household disposable income in all member states since 2021. Factors contributing to this growth include the rise of dual-income households, per capita income growth, and employment rate expansion. Consumers are seeking convenient, protein-rich snacks that offer satiety and contribute to healthy aging. Meat-based refreshments, such as red onion and cider vinegar meat sticks, are gaining popularity.
Furthermore, healthy eating habits are a customer desire, leading to the demand for low-calorie, nutritious options. Urbanization levels have also influenced the market, with convenience stores and retail formats stocking a wide range of savory snacks, including pretzels and extruded appetizers. The convenience of imported goods and franchise contracts has further expanded the food retail landscape. Flavors continue to be a significant factor in consumer choice, with health risks and calorie counts becoming increasingly important considerations. The market is expected to grow as consumers seek convenient, nutritious, and flavorful options to fuel their active lifestyles. Such factors are expected to contribute to the growth of the global delicious snacks market during the forecast period.
Demand for healthier alternatives is a major challenge to the growth of the market. The market is experiencing a shift towards healthier options due to increasing consumer awareness of the health risks associated with excessive consumption of salty, fattening snacks. This trend is particularly prominent among those seeking to adopt healthy eating habits, with a focus on snacks low in fat, salt, and sugar. Some popular alternatives include baked chips, vegetable crisps, and air-popped popcorn.
However, the challenge lies in creating tastier, healthier snacks that also offer convenience as consumers continue to seek out quick and easy options. Meat-based refreshments, such as protein-rich jerky and sausages, are also gaining popularity for their satiety and muscle-building benefits. Urbanization levels and the availability of convenience stores and retail formats further contribute to the demand for convenient, healthy snack options. Flavors like red onion and cider vinegar are being explored to cater to customer desires while maintaining nutritional value. Imported goods and franchise contracts are also playing a role in the food retail landscape, offering a wider variety of healthy snack choices. Traditional meals, such as pretzels and extruded appetizers, are being reimagined with healthier ingredients to meet consumer needs. Calories remain a key consideration, with many snack manufacturers focusing on reducing calorie counts without sacrificing taste or texture. This can hinder the growth of the market in focus during the forecast period.
The market analysis 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Anji Foodstuff Co. Ltd.: The company offers savory snacks such as Ankee Scallop Bisque and Ankee Broth. Also, the company produces composite seasoning powder, natural extract seasonings, spices, sauces, and flavored bresoth.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
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 market 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.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2023 to 2027, as well as historical data from 2017 to 2022 for the following segments.
The market is a significant sector in the global food industry, driven by the increasing consumer preference for convenient and tasty food options. Consumers are increasingly opting for savory snacks as they cater to various cravings throughout the day. The market is diverse, with a range of products, including potato chips, pretzels, popcorn, and nuts. The consumption of savory snacks is influenced by several factors, including demographic trends, lifestyle changes, and cultural preferences. The market is segmented based on product type, distribution channel, and region. The product type segment includes potato chips, pretzels, popcorn, and nuts. The distribution channel segment includes supermarkets/hypermarkets, convenience stores, and online retail. The market is growing due to the increasing demand for convenient and tasty food options.
Further, the market is expected to continue its growth trajectory in the coming years, driven by rising disposable income, changing consumer preferences, and the increasing number of convenience stores and online retail platforms. The market is also witnessing the entry of several new players, leading to increased competition and innovation in the sector. In conclusion, the market is a dynamic and growing sector in the global food industry, driven by the increasing consumer preference for convenient and tasty food options. The market is diverse and segmented based on product type, distribution channel, and region. The market is expected to continue its growth trajectory in the coming years, driven by rising disposable income, changing consumer preferences, and the increasing number of convenience stores and online retail platforms.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.91% |
Market growth 2023-2027 |
USD 32.17 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.56 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 39% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Anji Foodstuff Co. Ltd., Arca Continental SAB de CV, Blue Diamond Growers, Calbee Inc., Conagra Brands Inc., Corporativo Bimbo SA de CV, Fifty50 Foods LP, General Mills Inc., Intersnack Group GmbH and Co. KG, ITC Ltd., JG Summit Holdings Inc., Kellogg Co., Kikkoman Corp., Mondelez International Inc., Nestle SA, Parle Products Pvt. Ltd., PepsiCo Inc., The Hain Celestial Group Inc., The Kraft Heinz Co., and Unilever PLC |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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