Global Savory Snacks Market Insights Forecasts to 2032
- The Global Savory Snacks Market Size was valued at USD 275.6 Billion in 2022.
- The Market is growing at a CAGR of 5.19% from 2022 to 2032.
- The Worldwide Savory Snacks Market is expected to reach USD 456.96 Billion by 2032.
- North America is expected to grow the fastest during the forecast period.
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The Global Savory Snacks Market Size is expected to reach USD 456.96 Billion by 2032, at a CAGR of 5.19% during the forecast period 2022 to 2032.
Savory snacks are minimal food items that are typically consumed as a snack. They are often spicy and salty, rather than sweet. They are made from a variety of ingredients including fruits, vegetables, nuts, cereals vegetable oils, and seasonings. They are high in vitamins, minerals, and fiber. The most common types include salted cookies, potatoes and corn chips, popcorn, donuts, meat meals, and seeds, which are typically consumed in modest quantities in between meals. Demand is increasing as a result of a number of reasons, including high energy, extra nutrients from a snack, specifically nuts and seeds, and snacks that prevent starvation to prevent overeating at the next meal. Other factors driving market expansion are new baked product varieties and an increase in demand for multigrain chips. The market for savory snacks is growing by the day. Customers' growing healthy eating habits are one of the primary reasons for such rapid growth. People select more nutritious foods and snacks that can be adapted to their lifestyles. The savory munchies market is producing more novel snacks in intriguing flavors in order for these goods to achieve client popularity. The worldwide savory snacks market is benefiting from strong growth in the retail sector.
Global Savory Snacks Market Report Coverage
|Market Size in 2022:||USD 275.6 Bn|
|Forecast Period:||2022 – 2032|
|Forecast Period 2022 – 2032 CAGR:||5.19%|
|022 – 2032 Value Projection:||USD 456.96 Bn|
|Historical Data for:||2020-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||140|
|Segments covered:||By Product, By Category, By Flavour, By Distribution Channel and By Region .|
|Companies Covered:||Nestle SA, Blue Diamond Growers, ITC Limited, Grupo Bimbo, PepsiCo, The Kraft Heinz Company, The Kellogg Company, Calbee, Hain Celestial, Conagra Brands, Inc, General Mills, Inc, Mars, Incorporated, and Others.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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One of the main factors driving market expansion is the growing food and beverage industry, as well as a growing preference for on-the-go snacking options. As a result of the changing habits and busy schedules of the working population, global consumption of fast-food items such as savoury snacks has increased. Savory snacking alternatives save consumers time cooking at home, especially during times of slight starvation, and serve as convenient tiffin options for school/college-going youngsters and even in between work sessions. Since the global pandemic, the shift in shopping behavior has resulted in a favorable change in snacking behavior resulting in increased in-home consumption. Furthermore, as consumer awareness of healthy eating habits grows, manufacturers have produced lower-fat, gluten-free, natural, and high-protein snacks that are swiftly gaining popularity. Additionally, manufacturers are broadening their product options in order to broaden their client base and meet specific flavor preferences and nutritional concerns.
The health risks caused by major ingredients such as wheat, corn, and other flour, vegetable oil, salt, sugar, chemical additives, and preservatives in savory food provide a significant limitation on market expansion over the forecast period. Frequent snacking adds extra calories to the body, which can lead to huge weight gain and obesity. Individuals frequently eat fried foods, dry foods, and a variety of beverages. Savory food products are classified into several varieties based on the raw food items and manufacturing techniques used. Savory food has a negative impact on human health, leading to weight gain, diabetes, heart disease, and high blood pressure.
By Product Insights
The potato chips segment dominates the market with the largest revenue share over the forecast period.
On the basis of product, the global savory snacks market is segmented into potato chips, extruded snacks, popcorn, nuts and seeds, puffed snacks, and tortillas. Among these, the potato chips segment is dominating the market with the largest revenue share over the forecast period. Consumers choose potato chips as Savory munchies. It is a result of their flavor, ease of availability, and affordable price. A dynamic change in the market's intake of potato chips has occurred, demanding further innovation in the products of other significant companies. Extruded snacks, nuts and seeds, and popcorn are also gaining appeal in the market due to their delicious flavors and nutritious composition.
By Category Insights
The baked segment is witnessing significant CAGR growth over the forecast period.
On the basis of the category, the global savory snacks market is segmented into baked and fried. Among these, the baked segment is witnessing significant growth over the forecast period. Baked snacks are regarded as healthier and more nutritious than fried snacks. Baked snacks are lower in cholesterol. Baked snacks are more flavourful and delicious because they cook deeper without any oil. Consumers nowadays prefer health-based baked snacks that can help them maintain good health while also understanding the taste and convenience.
By Flavour Insights
The spice segment is expected to hold the largest global savory snacks market share during the forecast period.
On the basis of flavour, the global savory snacks market is segmented into barbeque, spice, salty, and plain/unflavoured. Among these, the spice segment is witnessing significant growth over the forecast period. Spicy snacks have compounds that may help reduce high blood pressure, boost weight, and increase lifespan. The spicy flavor category and improves prepared meals' flavor, including heat, pungency, warmth, and impact. These substances are frequently available in extract form to food makers. Consumer desire for dishes that contain spice has expanded significantly as regional cuisines have become more globalized.
By Distribution Channel Insights
The supermarkets/hypermarkets segment accounted for the largest revenue share over the forecast period.
On the basis of distribution channels, the global savory snacks market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, and online stores. Among these, the supermarket/hypermarkets segment dominates the market with the largest revenue share over the forecast period. Supermarkets are regarded as a convenient food alternative for purchasing frozen or fresh products as they can be conveniently stored, therefore contributing to their quality features. The most popular are nuts and seeds and baked chips, which are highly preferred and widely available through retail channels. Furthermore, supermarkets and hypermarkets offer a variety of options that allow customers to obtain a variety of products. As a result of the certainty of their overall quality, consumers are extremely inclined to purchase such products through retail channels.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific dominates the market with the largest share over the forecast. The expansion is being driven by countries such as India, Japan, and China, where consumers have begun to embrace better lives as a reaction to increased worries about childhood obesity. The increase is primarily due to innovative product adoption advertisements and campaigns, consumer awareness of healthy snacking, and a thriving upper middle class with high discretionary income and changing lifestyles. With a large population of millennials pursuing better lifestyles, South Asian countries have a diverse choice of savory snacks. Furthermore, the region's growth was aided by an increasingly obese population and increased awareness of healthy eating.
North America is expected to grow the fastest during the forecast period. its well-established food industry, increased consumer health awareness, rising demand for clean-label savory snacks, and the simple availability of savory snacks at grocery shops. Furthermore, changing customer habits such as eating between fixed mealtimes or munching instead of eating proper meals, the rising trend of replacing meals with smaller nutritional snacks, and the cost competitiveness of plant-based snacks all contribute to the growth of this regional market.
List of Key Market Players
- Nestle SA
- Blue Diamond Growers
- ITC Limited
- Grupo Bimbo
- The Kraft Heinz Company
- The Kellogg Company
- Hain Celestial
- Conagra Brands, Inc
- General Mills, Inc
- Mars, Incorporated
Key Market Developments
- In September 2021, Kazoo introduced the world's first water-saving tortilla chips. The snacks are produced with 40% corn gluten derived from corn starch.
- In August 2022, Lays Gourmet a gourmet potato chip brand launched by Lays. In addition to the launch, the corporation released a TV commercial to promote and differentiate its goods among buyers.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global savory snacks market based on the below-mentioned segments:
Savory Snacks Market, Product Analysis
- Potato Chips
- Extruded Snacks
- Nuts & Seeds
- Puffed Snacks
Savory Snacks Market, Category Analysis
Savory Snacks Market, Flavour Analysis
Savory Snacks Market, Distribution Channel Analysis
- Convenience Stores
- Specialty Stores
- Online Stores
Savory Snacks Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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