According to IMARC Group latest report titled “Savory Snacks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”, offers a comprehensive analysis of the industry, which comprises insights on savory snacks market industry share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
The global savory snacks market size reached US$ 136.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 205.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2024-2032.
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Savory Snacks Market Overview:
The savory snacks market is a vibrant and growing segment within the broader snack food industry, characterized by a wide range of flavorful and convenient snack options that appeal to consumers seeking indulgence, convenience, and variety. Savory snacks encompass a diverse array of products, including potato chips, tortilla chips, pretzels, popcorn, nuts, crackers, and meat snacks, among others. This comprehensive overview provides insights into the key drivers, trends, market segments, regional dynamics, and competitive landscape shaping the savory snacks market.
Savory Snacks Market Trends:
The savory snacks market is continuously evolving to meet the changing preferences and lifestyles of consumers. Several notable trends are shaping the industry, influencing product innovation, marketing strategies, and consumer behavior. Understanding these trends is crucial for stakeholders to stay competitive and capitalize on emerging opportunities in the market. Here are some key trends driving the savory snacks market:
- Health and Wellness:
- Nutrient-Dense Ingredients: Consumers are increasingly seeking savory snacks made with wholesome and nutrient-dense ingredients such as whole grains, seeds, and legumes. Snack manufacturers are responding by offering healthier alternatives with higher fiber, protein, and micronutrient content.
- Better-for-You Options: The demand for healthier snack options, including low-fat, low-sodium, gluten-free, and organic varieties, is on the rise. Snack brands are reformulating their products to meet these preferences while maintaining flavor and indulgence.
- Plant-Based Snacking:
- Rise of Vegan Snacks: With the growing popularity of plant-based diets, there is a surge in demand for vegan savory snacks made without animal-derived ingredients. Plant-based snacks offer a cruelty-free alternative and appeal to environmentally conscious consumers.
- Innovative Ingredients: Manufacturers are exploring a wide range of plant-based ingredients, such as chickpeas, lentils, quinoa, and seaweed, to create innovative and flavorful snack options. These ingredients offer unique textures, flavors, and nutritional benefits.
- Global Flavors and Ethnic Snacks:
- Diverse Flavor Profiles: Consumers are increasingly embracing global flavors and seeking adventurous taste experiences in their snacks. Savory snacks inspired by international cuisines, such as Asian, Latin American, and Middle Eastern flavors, are gaining popularity in the market.
- Authenticity and Regional Specialties: Authenticity is key in the development of ethnic snacks, with a focus on traditional recipes, ingredients, and cooking techniques. Snack brands are highlighting regional specialties and cultural authenticity to appeal to ethnically diverse consumer segments.
- Snackification of Meals:
- On-the-Go Convenience: The trend towards snacking throughout the day, rather than traditional sit-down meals, is driving demand for convenient and portable snack options. Savory snacks are increasingly consumed as meal replacements or components of grazing-style eating patterns.
- Snack Pairings and Combinations: Consumers are experimenting with snack pairings and combinations to create satisfying and balanced mini-meals. Snack brands are offering snack kits, duos, and multipacks that combine complementary flavors and textures for a more fulfilling snacking experience.
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Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players operating in the market.
- Arca Continental
- A. B. de C. V.
- Calbee, Inc.
- Conagra Brands
- , General Mills Inc.
- Hain Celestial Group, Inc.
- HALDIRAM FOODS INTERNATIONAL PVT. LTD
- Intersnack Group
- ITC Limited
- Kellogg Company
- Kraft Heinz Company
- Lamb Weston Holdings, Inc
- Premium Brands Holdings Corporation
- PepsiCo, Inc.
Key Market Segmentation:
Our report has categorized the market based on region, product, category, distribution channel and sales.
Breakup by Product:
- Potato Chips
- Extruded Snacks
- Nuts and Seeds
- Popcorn
- Meat Snacks
- Others
Breakup by Category:
- Baked
- Fried
- Others
Breakup by Distribution Channel:
- Supermarkets/Hypermarkets
- Specialty Stores
- Online Stores
- Convenience Stores
- Others
Breakup by Sales:
- Retail Sector
- Foodservice Sector
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, South Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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