Savory Snack Market Introduction and Overview
According to SPER Market Research, the Global Savory Snack Market is estimated to reach USD 455.92 billion by 2033 with a CAGR of 5.61%.
Savory snacks are a category of food products characterized by their salty, spicy, or umami flavours, which contrast with sweet snacks. These snacks are typically consumed between meals or as a light meal and include a wide variety of options such as chips, pretzels, popcorn, nuts, crackers, and savoury pastries. They are often enjoyed for their taste, crunchiness, and convenience. Savory snacks can be made from a range of ingredients including grains, potatoes, nuts, and legumes, and are frequently seasoned with spices, herbs, or flavours enhancers to achieve their distinctive taste profiles. While traditionally known for being high in sodium and fats, there is a growing trend toward healthier versions that offer lower sodium, reduced fat or added nutritional benefits, such as higher protein content or natural ingredients. These snacks cater to diverse consumer preferences, ranging from classic flavours to innovative and exotic combinations.
- August 2022; Lays sent off a superior potato chips range, Lays Connoisseur. In any case the send-off, the organization likewise uncovered a TVC film to advance and interestingly position its item among clients.
- June 2022; Day to-day Crunch, producer of Exceptionally Crunchy (TM) grew nut snacks and sent off two new flavours at the 2022 Summer Extravagant Food Show. The flavours included cinnamon java grew nut variety and Nashville hot grew almonds.
Market Opportunities and Challenges
Opportunities- A consistent expansion in the future and more prominent thoughtfulness regarding quality have been seen in the beyond couple of many years. Purchasers are turning out to be progressively worried about their well-being and are focusing harder on their ways of life and dietary propensities. As indicated by the World Wellbeing Association (WHO), undernutrition and explicit supplement lack keep on excess significant difficulties, with imbalanced weight control plans and persistent infections all the while turning out to be alarmingly normal. In addition, with increasing heftiness rates, a maturing populace, an expansion in stationary ways of life, and expanded shopper premium in well-being and nourishment, the interest in sound eating is likewise expanding across emerging nations. Lately, buyer mindfulness in regards to well-being, dietary improvement, calorie decrease, and food handling has developed, particularly in created nations and top-level salary gatherings of agricultural nations, as most would consider being normal to change the food and drink industry and lift the interest for sound bites.
Challenges- These negative well-being impacts connected to the fundamental parts of exquisite bites, like salt, sugar, vegetable oil, wheat, corn, and different flours, as well as substance-added substances and additives, offer a critical boundary to showcase development over the conjecture period. Successive eating adds additional calories to the body, which can cause stoutness and fast weight gain. Shifts in consumer preferences towards unique flavours, exotic ingredients, or plant-based options require companies to innovate constantly. Staying ahead of trends and understanding regional taste preferences is crucial. Economic downturns and fluctuations in disposable income can impact consumer spending on non-essential items like snacks. During tough economic times, consumers may prioritize essentials over discretionary purchases. There is growing pressure on companies to adopt sustainable practices, such as reducing packaging waste and sourcing ingredients responsibly.
Market Competitive Landscape
The Global Savory Snack Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are Blue Diamond Growers, Calbee, Conagra Brands, Inc, General Mills, Inc., Hain Celestial, ITC Limited, Kraft Heinz Company, PepsiCo, and Grupo Bimbo.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Product, By Distribution Channel
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| Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa
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| Companies Covered | Blue Diamond Growers, Calbee, Conagra Brands, Inc, General Mills, Inc., Hain Celestial, ITC Limited, Kraft Heinz Company, PepsiCo, and Grupo Bimbo.
|
COVID-19 Impact on Global Savory Snack Market
The Coronavirus episode made the pandemic fundamentally changed clients and pushed them to incorporate numerous solid nibbling choices. Thus, the pandemic emphatically affected the interest in nuts and seeds and meat snacks, among others. Additionally, numerous food makers have presented solid fixings in their flavourful nibble items, like high protein, low-fat, fibre, and low-sugar, among others. This has likewise assumed a fundamental part in drawing in the enthusiastic wellness populace. Numerous food producers have also presented natural and regular cycles in setting up the bites, which, thus, emphatically affected the development of the appetizing titbits market. The Coronavirus pandemic reasonably impacted the interest in appetizing snacks due to disturbances in supply chains. In any case, these impacts were impermanent and bit by bit decreased without considerably influencing the exquisite titbits market.
Key Target Audience:
- Young Adults and Millennials
- Health-Conscious Consumers
- Busy Professionals
- Families with Children
- Students
- Ethnic and Regional Groups
Our in-depth analysis of the Savory Snack Market includes the following segments:
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By Type of Facility Management:
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Potato Chips
Corn & Tortilla Chips
Nuts & Seeds
Popcorn
Pretzels
Others
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By Distribution Channel:
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Hypermarkets & Supermarkets
Convenience Stores
Online
Others
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Key Topics Covered in the Report:
- Global Savory Snack Market Size (FY’2024-FY’2033)
- Overview of Global Savory Snack Market
- Segmentation of Global Savory Snack Market by Product (Potato Chips, Corn & Tortilla Chips, Nuts & Seeds, Popcorn, Pretzels, Others)
- Segmentation of Global Savory Snack Market by Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Online, Others)
- Statistical Snap of Global Savory Snack Market
- Expansion Analysis of Global Savory Snack Market
- Problems and Obstacles in Global Savory Snack Market
- Competitive Landscape in the Global Savory Snack Market
- Impact of COVID-19 and Demonetization on Global Savory Snack Market
- Details on Current Investment in Global Savory Snack Market
- Competitive Analysis of Global Savory Snack Market
- Prominent Players in the Global Savory Snack Market
- SWOT Analysis of Global Savory Snack Market
- Global Savory Snack Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Savory Snack Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Savory Snack Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Savory Snack Market
7. Global Savory Snack Market, By Product (USD Million) 2020-2033
7.1. Global Savory Snack Market Size, Share and Forecast, By Product, 2020-2026
7.2. Global Savory Snack Market Size, Share and Forecast, By Product, 2027-2033
7.3. Potato Chips
7.4. Corn & Tortilla Chips
7.5. Nuts & Seeds
7.6. Popcorn
7.7. Pretzels
7.8. Others
8. Global Savory Snack Market, By Distribution Channel (USD Million) 2020-2033
8.1. Global Savory Snack Market Size, Share and Forecast, By Distribution Channel, 2020-2026
8.2. Global Savory Snack Market Size, Share and Forecast, By Distribution Channel, 2027-2033
8.3. Hypermarkets & Supermarkets
8.4. Convenience Stores
8.5. Online
8.6. Others
9. Global Savory Snack Market Forecast, 2020-2033 (USD Million)
9.1. Global Savory Snack Market Size and Market Share
10. Global Savory Snack Market, By Region, 2020-2033 (USD Million)
10.1. Global Savory Snack Market Size and Market Share By Region (2020-2026)
10.2. Global Savory Snack Market Size and Market Share By Region (2027-2033)
10.3. Asia-Pacific
10.3.1. Australia
10.3.2. China
10.3.3. India
10.3.4. Japan
10.3.5. South Korea
10.3.6. Rest of Asia-Pacific
10.4. Europe
10.4.1. France
10.4.2. Germany
10.4.3. Italy
10.4.4. Spain
10.4.5. United Kingdom
10.4.6. Rest of Europe
10.5. Middle East and Africa
10.5.1. Kingdom of Saudi Arabia
10.5.2. United Arab Emirates
10.5.3. Qatar
10.5.4. South Africa
10.5.5. Egypt
10.5.6. Morocco
10.5.7. Nigeria
10.5.8. Rest of Middle-East and Africa
10.6. North America
10.6.1. Canada
10.6.2. Mexico
10.6.3. United States
10.7. Latin America
10.7.1. Argentina
10.7.2. Brazil
10.7.3. Rest of Latin America
11. Company Profile
11.1. Blue Diamond Growers
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Calbee
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Conagra Brands
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. General Mills, Inc
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Hain Celestial
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. ITC Limited
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Kraft Heinz Company
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. PepsiCo
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Grupo Bimbo
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links