Global Savory Snacks Market Size, Share, Growth, Segment, Trends And Forecast 2032

Global Savory Snacks Market Insights

According to Zion Market Research, the global Savory Snacks Market was worth USD 266.17 Billion in 2023. The market is forecast to reach USD 416.47 Billion by 2032, growing at a compound annual growth rate (CAGR) of 5.1% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Global Savory Snacks Market industry over the next decade.

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Savory Snacks Market: Overview

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, manufactufarer’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.

Savory Snacks Market: 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.

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: Report Scope

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Savory Snacks Market: Segmenatation

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.

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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.

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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.

Savory Snacks Market: 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
• Tyrrells

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