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Savory Snacks Market - Global Industry Analysis

Savory Snacks Market: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends And Forecast, 2020 – 2028

Published Date: 10-Aug-2021 Category: Food & Beverage Report Format : PDF Pages: 115 Report Code: ZMR-470 Status : Published

The global Savory Snacks market accounted for USD 106.17 Billion in 2020 and is expected to reach USD 124.83 Billion by 2028, growing at a CAGR of around 2% between 2021 and 2028.

Description

Market Overview    

The global Savory Snacks market accounted for USD 106.17 Billion in 2020 and is expected to reach USD 124.83 Billion by 2028, growing at a CAGR of around 2% between 2021 and 2028.       

Savory snack may be a salty food which is smaller than a daily meal. Usually, savory snack is eaten between meals. From past few years, snacks consumption trend is changed. Consumers prefer more healthy snacks than the fried one. Hence, manufacturer’s venture towards the consumers demands healthy and fat-free snacks are increasing. This boosts the demand for healthy snacks and successively helps to grow the snacks market within the coming future. Lay’s, Doritos, Cheetos, Ruffles, and Pringles were the dominating brands with the very best market share in 2018. Demand for such brands increased thanks to innovative consumption pattern like potato chips in chocolate chili flavor in France, nacho chips in papdi chaat flavor in India, popcorn in strawberry and cream flavor within the UK and maize snacks during a tangy fruit chutney flavor in South Africa.

Global Savory Snacks Market Size

COVID-19 Impact Analysis:

Undoubtedly, the COVID-19 pandemic has harmed the market size for the year 2020, with small and medium scale companies struggling to sustain their businesses in the near-term future. After the closure of restaurants, hotels, and other food outlet facilities during the arrival of the pandemic, the global Savory Snacks market has witnessed a decline in sales for the short term owing to the complete lockdown enforcement placed by governments to control COVID spreading. However, later it started for home delivery or take away. The restrictions imposed by various nations to contain COVID have stopped the production resulting in disruption across the whole supply chain. However, the global markets are slowly opening to their full potential, and theirs a surge in demand for Food.

Growth Factors

Increasing urbanization and busy lifestyles are impacting the buyer eating habits. Consumers are gradually replacing main meals with more light, flexible and convenient snacking options. This is often expected to be a driving factor for savory snack market. PepsiCo is one among the leading providers of savory snacks within the global market. Their snacks are made with different flavors to capture the region specific taste preferences. as an example, in North America, a number of the flavors provided by PepsiCo are soured cream & onion, barbecue, and hidden valley ranch.  Rising health concerns, producers have altered their manufacturing methods and content in their snacks. This has resulted in low salt content in baked and crispy snacks rather than fried. These alterations from manufacturers consistent with the buyer demand are projected to drive the market in next future years. Furthermore, the growing hypermarkets and supermarkets within the developing economies are boosting growth opportunities for the savory snacks market.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Segment Analysis Preview

Key product segments covered under this study include potato chips, extruded snacks, nuts and seeds, traditional snacks, popcorn, pretzels, meat snacks. The shrinking size of households in the country has boosted the snacking trend in the country which is expected to drive the demand for these products over the forecast period. A potato chip has been the leading product segment of the savory snacks market over the past few years and this trend is projected to be continued over the forecast period. Traditional snacks segment is projected to witness strong growth in the coming future owing to new innovations in flavors and tastes. Extruded snack is also one of the major product segments of the savory snack market and likely to grow rapidly due to increasing consumers preference towards it.

Global Savory Snacks Market Share

Region Analysis Preview

Regionally, North America was dominating the regional market for savory snacks in 2019. This trend is expected to be continued in the coming future. As offering snack is a tradition in western culture coupled with increasing trend of snacks consumption during working hours and between main meals in the U.S. is a major factor which is boosting the market growth in this region. North America was followed by Europe in 2015.  Asia Pacific savory snacks market is expected to grow significantly the future period on account of growing disposable income of consumers in emerging economies such as China and India. Moreover, changing consumer’s lifestyle and impact of westernization on Indian culture is further expected to drive the savory snacks market in Asia Pacific region.

Global Savory Snacks Market Regional Analysis

Key Market Players & Competitive Landscape

Some of the key companies operating in global savory snacks market are PepsiCo Inc., AVI Limited, H.W. Lay and Co, Want Want Holdings Limited, Frito-Lay, Kellogg Company, Calbee, Bourbon Corporation,  Kraft Foods, Chio Chips, Estrella, General Mills, Greendot Health Foods Ltd, Haldiram`s, Amanoya Kabuki, Kameda,  and Tyrrells among others.

The global Savory Snacks market is segmented as follows:   

By Product

  • Potato chips
  • Extruded snacks
  • Nuts and seeds
  • Traditional snacks
  • Popcorn
  • Pretzels
  • Meat snacks

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Product
        • 2.1.1.2. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Savory Snacks Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Savory Snacks Market – Product Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Product, 2020 & 2028
    • 4.2. Potato chips
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Extruded Snacks
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Nuts and Seeds
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Popcorn
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Others
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 7 Savory Snacks Market – Regional Analysis
    • 7.1. Overview
      • 7.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 7.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 7.2. North America
      • 7.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 7.2.2. North America Market Revenue, By Product, 2016 – 2028
      • 7.2.3. U.S.
        • 7.2.3.1. U.S. Market Revenue, By Product, 2016 – 2028
      • 7.2.4. Canada
        • 7.2.4.1. Canada Market Revenue, By Product, 2016 – 2028
      • 7.2.5. Mexico
        • 7.2.5.1. Mexico Market Revenue, By Product, 2016 – 2028
    • 7.3. Europe
      • 7.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 7.3.2. Europe Market Revenue, By Product, 2016 – 2028
      • 7.3.3. Germany
        • 7.3.3.1. Germany Market Revenue, By Product, 2016 – 2028
      • 7.3.4. France
        • 7.3.4.1. France Market Revenue, By Product, 2016 – 2028
      • 7.3.5. U.K.
        • 7.3.5.1. U.K. Market Revenue, By Product, 2016 – 2028
      • 7.3.6. Italy
        • 7.3.6.1. Italy Market Revenue, By Product, 2016 – 2028
      • 7.3.7. Spain
        • 7.3.7.1. Spain Market Revenue, By Product, 2016 – 2028
      • 7.3.8. Rest of Europe
        • 7.3.8.1. Rest of Europe Market Revenue, By Product, 2016 – 2028
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 7.4.2. Asia Pacific Market Revenue, By Product, 2016 – 2028
      • 7.4.3. China
        • 7.4.3.1. China Market Revenue, By Product, 2016 – 2028
      • 7.4.4. Japan
        • 7.4.4.1. Japan Market Revenue, By Product, 2016 – 2028
      • 7.4.5. India
        • 7.4.5.1. India Market Revenue, By Product, 2016 – 2028
      • 7.4.6. South Korea
        • 7.4.6.1. South Korea Market Revenue, By Product, 2016 – 2028
      • 7.4.7. South-East Asia
        • 7.4.7.1. South-East Asia Market Revenue, By Product, 2016 – 2028
      • 7.4.8. Rest of Asia Pacific
        • 7.4.8.1. Rest of Asia Pacific Market Revenue, By Product, 2016 – 2028
    • 7.5. Latin America
      • 7.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 7.5.2. Latin America Market Revenue, By Product, 2016 – 2028
      • 7.5.3. Brazil
        • 7.5.3.1. Brazil Market Revenue, By Product, 2016 – 2028
      • 7.5.4. Argentina
        • 7.5.4.1. Argentina Market Revenue, By Product, 2016 – 2028
      • 7.5.5. Rest of Latin America
        • 7.5.5.1. Rest of Latin America Market Revenue, By Product, 2016 – 2028
    • 7.6. The Middle-East and Africa
      • 7.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 7.6.2. The Middle-East and Africa Market Revenue, By Product, 2016 – 2028
      • 7.6.3. GCC Countries
        • 7.6.3.1. GCC Countries Market Revenue, By Product, 2016 – 2028
      • 7.6.4. South Africa
        • 7.6.4.1. South Africa Market Revenue, By Product, 2016 – 2028
      • 7.6.5. Rest of Middle-East Africa
        • 7.6.5.1. Rest of Middle-East Africa Market Revenue, By Product, 2016 – 2028
  • Chapter No. 8 Savory Snacks Market – Industry Analysis
    • 8.1. Introduction
    • 8.2. Market Drivers
      • 8.2.1. Driving Factor 1 Analysis
      • 8.2.2. Driving Factor 2 Analysis
    • 8.3. Market Restraints
      • 8.3.1. Restraining Factor Analysis
    • 8.4. Market Opportunities
      • 8.4.1. Market Opportunity Analysis
    • 8.5. Porter’s Five Forces Analysis
    • 8.6. PEST Analysis
    • 8.7. Regulatory Landscape
    • 8.8. Product Landscape
    • 8.9. Regional Market Trends
      • 8.9.1. North America
      • 8.9.2. Europe
      • 8.9.3. Asia Pacific
      • 8.9.4. Latin America
      • 8.9.5. The Middle-East and Africa
    • 8.10. Pricing Analysis
    • 8.11. Value Chain Analysis
    • 8.12. Downstream Buyers
    • 8.13. Distributors/Traders List
  • Chapter No. 9 Competitive Landscape
    • 9.1. Company Market Share Analysis – 2019
      • 9.1.1. Global Savory Snacks Market: Company Market Share, 2019
      • 9.1.2. Global Savory Snacks Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 9.1.3. Global Savory Snacks Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 9.1.4. Global Savory Snacks Market: Radar Determinant Chart, 2019
    • 9.2. Strategic Developments
      • 9.2.1. Acquisitions & Mergers
      • 9.2.2. New Product Launch
      • 9.2.3. Regional Expansion
    • 9.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 10 Company Profiles
    • 10.1. PepsiCo Inc.
      • 10.1.1. Company Overview
      • 10.1.2. Key Executives
      • 10.1.3. Product Portfolio
      • 10.1.4. Financial Overview
      • 10.1.5. Operating Business Segments
      • 10.1.6. Business Performance
      • 10.1.7. Recent Developments
    • 10.2. AVI Limited, H.W. Lay and Co
    • 10.3. Want Want Huldings Limited
    • 10.4. Frito-Lay, Kellogg Company
    • 10.5. Calbee
    • 10.6. Bourbon Corporation
    • 10.7. Kraft Foods
    • 10.8. Chio Chips
    • 10.9. Estrella
    • 10.10. General Mills
    • 11.11. Marketing Channel
    • 11.12. Direct Marketing
    • 11.13. Indirect Marketing
    • 11.14. Marketing Channel Development Trends
    • 11.15. Economic/Pulitical User Product Change
  • Chapter No. 12 Research Methodology
    • 12.1. Research Methodology
    • 12.2. Phase I - Secondary Research
    • 12.3. Phase II - Data Modeling
      • 12.3.1. Company Share Analysis Model
      • 12.3.2. Revenue Based Modeling
    • 12.4. Phase III - Primary Research
    • 12.5. Research Limitations
      • 12.5.1. Assumptions

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Product
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Savory Snacks Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Product, 2020 & 2028
FIG NO. 8. Global Savory Snacks Market for potato chips, Revenue (USD Billion) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Savory Snacks Market for potato chips, by country, 2020 & 2028
FIG NO. 10. Global Savory Snacks Market for Extruded Snacks, Revenue (USD Billion) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Savory Snacks Market for Extruded Snacks, By Country, 2020 & 2028
FIG NO. 12. Global Savory Snacks Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Savory Snacks Market for Others, By Country, 2020 & 2028
FIG NO. 14. Global Savory Snacks Market for FO Communication, Revenue (USD Billion) 2016 – 2028
FIG NO. 15. Global Savory Snacks Market Revenue Share, By Region, 2020 & 2028
FIG NO. 16. North America Savory Snacks Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 17. Porter’s Five Forces Analysis for Global Savory Snacks Market
FIG NO. 18. PEST Analysis for Global Savory Snacks Market
FIG NO. 19. Pricing Analysis for Global Savory Snacks Market
FIG NO. 20. Value Chain Analysis for Global Savory Snacks Market
FIG NO. 21. Company Share Analysis, 2019
FIG NO. 22. Radar Determinant Chart, 2019
FIG NO. 23. Company Strategic Developments – Heat Map Analysis
FIG NO. 24. Murata Manufacturing Co. Ltd. Business Segment Revenue Share, 2020 (%)
FIG NO. 25. Murata Manufacturing Co. Ltd. Geographical Segment Revenue Share, 2020 (%)
FIG NO. 26. Market Channels
FIG NO. 27. Marketing Channel Development Trend
FIG NO. 28. Growth in World Gross Product, 2008-2018
FIG NO. 29. Research Methodology – Detailed View
FIG NO. 30. Research Methodology
 


List of Tables 

TABLE NO. 1. Global Savory Snacks Market: Snapshot
TABLE NO. 2. Quarterly Savory Snacks Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Savory Snacks Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Savory Snacks Market for POTATO CHIPS, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Savory Snacks Market for Extruded Snacks, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Savory Snacks Market for  Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. G6obal Savory Snacks Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. North America Savory Snacks Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 11. North America Savory Snacks Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 12. U.S. Savory Snacks Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 13. Canada Savory Snacks Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 14. Mexico Savory Snacks Market Revenue, By Product, 2016 – 2028 (USD Billion) 
TABLE NO. 15. Drivers for the Savory Snacks Market: Impact Analysis
TABLE NO. 16. Restraints for the Savory Snacks Market: Impact Analysis
TABLE NO. 17. Major Buyers of Savory Snacks  
TABLE NO. 18. Distributors/Traders List of Savory Snacks 
TABLE NO. 19. Global Savory Snacks Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 20. Global Savory Snacks Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)
  
 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Savory Snacks market. Zion Research has collected and analyzed key data belong to the global Savory Snacks market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Savory Snacks across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Savory Snacks industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Savory Snacks market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Savoriness is a quality of food that deals with a rich, salty flavor. Savory snacks include potato chips, nachos, and tacos. Ingredients used in savory snacks include potatoes, corn, nuts, seeds, wheat, rice, tapioca, and oats. Generally, savory snacks are eaten between meals as breakfast items, after-dinner snacks, and food items at social gatherings and celebrations A large expatriate population from multi-cultural and various socio-economic backgrounds in Asia Pacific and Latin America and the Middle East & Africa is expected to make the savory snacks market highly dynamic and rapidly evolving in the next few years. The savory snacks market is forecast to grow at a robust rate wherein the introduction of premium and indulgent savory snacks is the key motivating factor for the global population.

There has been the growing demand for the healthy snack is increasing day by day. Hence, manufacturer’s response towards the consumers demand healthy and fat-free snacks have been increasing. The developing taste preference is the key driver of savory snacks market growth. Owing to rising health concerns, manufacturers have switched their manufacturing methods and content in their snacks. This resulted in low salt content in baked and crispy snacks instead of fried. These changes from manufacturers according to the consumer demand are expected to drive the market in next future years. In addition, increasing urbanization and busy lifestyles are impacting the consumer eating habits. Consumers are gradually replacing main meals with more light, flexible and convenient snacking options. This, in turn, is expected to fuel the market for savory snacks over the years. However, the high cost of these snacks is one of the factors which may restrain the savory snacks market growth in the near future. Furthermore, the growing hypermarkets and supermarkets in the developing economies may boost growth opportunities for the savory snacks market.

Global Savory Snacks Market

Savory snacks can be segmented into extruded snacks, nuts & seeds, popcorn, pretzels, meat snacks, traditional snacks, potato chips and other types of snacks. Potato chips have been the leading product segment over the past few years and this trend is projected to be continued over the forecast period. Traditional snacks segment is expected to witness strong growth in the coming future due to new innovations in flavors and tastes. Extruded snack is also one of the major product segments of the savory snack market and expected to grow rapidly due to consumers increasing preference towards it.

North America emerged as the leading regional market for savory snacks in 2015 and this trend is projected to continue in the future. Rising trend of consuming snacks during working hours and between main meals in the U.S. is a major factor which is driving the market growth in this region. North America was followed by Europe in 2015. In Asia Pacific region, savory snacks market is likely to witness significant growth over the next few years on account of growing disposable income of consumers in emerging economies such as China and India. In addition, changing the life style of consumers and impact of westernization on Indian culture is further expected to drive the savory snacks market in this region. Latin America and the Middle East markets are also expected to grow significantly due to consumer preference towards in between meal snacks.

Some of the main companies operating in global savory snack market are PepsiCo Inc., AVI Limited, H.W. Lay and Co, Want Want Holdings Limited, Frito-Lay, Kellogg Company, Calbee, Bourbon Corporation,  Kraft Foods, Chio Chips, Estrella, General Mills, Greendot Health Foods Ltd, Haldiram`s, Amanoya Kabuki, Kameda,  and Tyrrells among others.

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FrequentlyAsked Questions

The global Savory Snacks market was valued at USD 106.17 Billion in 2020.

The global Savory Snacks market is expected to reach USD 124.83 Billion by 2028, growing at a CAGR of 2% between 2021 to 2028.

Increasing urbanization and busy lifestyles are impacting the consumer eating habits. Consumers are gradually replacing main meals with more light, flexible and convenient snacking options.

North America was the most dominant market in due to increasing. North America is followed by Europe and Asia-Pacific.

Some of the key companies operating in global savory snacks market are PepsiCo Inc., AVI Limited, H.W. Lay and Co, Want Want Holdings Limited, Frito-Lay, Kellogg Company, Calbee, Bourbon Corporation, Kraft Foods, Chio Chips, Estrella, General Mills, Greendot Health Foods Ltd, Haldiram`s, Amanoya Kabuki, Kameda, and Tyrrells among others.

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