The world’s savoury snacks is expected to grow at an increase of 4.53 percent over the forecast timeframe (2021 through 2026).
The COVID-19 pandemic-induced lockdown around the world led to a variety of bottlenecks throughout the value chain of the food industry. Furthermore, people who spend longer working and studying at home increased their consumption of savoury foods, thereby increasing the demand worldwide. With the growing markets and the inability of brick-and-mortar shops to meet them, customers have shifted their shopping preferences towards online retailers. This led to snack manufacturers’ capitalizing on the opportunities to optimize their operations and product offerings in retail outlets to meet the increasing demand.
The market for savoury snacks has been driven by the growing demand for convenience food items that are convenient for snacks that are low in sugar and packed with protein. Additionally, the manufacturers in this market are offering a new and varied range of products in terms of new flavour components, shapes, and packaging to attract consumers.
There is a tremendous potential for product development and market innovations. In addition, regional players will expand their market share through an improved retail landscape and better marketing strategies.
But, the market is facing problems as the demand for healthier foods increases, i.e., low sodium and fat content. Additionally, the high content of acrylamide is now an issue for manufacturers because consumers want transparency on the ingredients and statements on the label.
The scope of the Report
Savoury snacks are snack-type that have spice or salty flavours. The market for delicious snacks in the world is classified by product type into extruded snack foods, potato chips, nuts, and seeds food items, snacks made from meat, and others. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialist retailers, convenience stores, online media, and others. The report also offers data on the savoury snacks market in established and emerging geographic regions. It covers North America, Europe, Asia-Pacific, South America, the Middle East, and Africa. For each segment, forecasts and market size are calculated about the market value (in dollars).
Key Market Trends
The popularity of meat-based snacks is growing.
With increasing consumer awareness of healthy snacking habits, consumers are searching for meat-based snacks, expanding the market for savoury snacks. They are looking for protein in their snack packs to support a myriad of factors like satiety, weight reduction energy, energy, muscle recovery, and healthy aging general nutrition. This allows for adding protein-rich foods like lean turkey or beef to a regular diet, making it possible for the vendors on the market to offer many more options for meat-based snacks. Typically, meat-based snacks sit on shelves in convenience stores; however, since more people are seeking healthier and healthier food items, they are now taking up more space on shelves of various retail formats. The growing market penetration and the increasing consumption of meat-based snacks are expected to boost the appetite for tasty snacks. In addition, meat snack comes in various flavours like spicy, teriyaki, smoked, and hickory, which offers consumers a range of choices.
North America holds a significant share of the Global Savory Snacks Market.
The market for savoury snacks dominates those in the North American region as the consumers continue to seek the portability, convenience, and pleasure offered by sweet and savoury snacks. In addition, the trend of snacking is a popular choice among customers in the region and has become an all-day routine that involves eating at least one snack every day for all age groups. Frito Lay Corporation Frito Lay Corporation is one of the leading players in the market for savoury snacks across the country. Chips/crisps and tortilla/corn chips are two of the most sought-after snack options for American consumers, which is why chips/crisps are the two snacks with the most valuable sales. Different methods of preparation can enhance the flavour of the food, particularly the roasted coconut kale chips, sweet potato chips that are oven-roasted, and a wide selection of nuts roasted have increased the demand for savoury snack foods; in the American market.
The Competitive Landscape
The industry continues to develop by combining flavour and texture and has successfully promoted these new products to consumers. The leading players on the market include General Mills, ConAgra Foods, ITC Limited, Jack Links Canada, The Kelloggs Company, and PepsiCo Inc. They are focused on partnerships, expansion, and product development. Blue Diamonds Growers Blue Diamonds Growers company completed the negotiation of the free trade accord (KORUS) that will extend its presence to South Korea. In the Asia-Pacific region, many small and unorganized regional players make up the bulk of sales in categories.
- ConAgra Brands Inc.
- General Mills Inc.
- Jack Links Canada
- ITC Limited
- The Kelloggs Company. Kelloggs Company
- PepsiCo Inc.
- Product Outlook
- Potato Chips
- Corn & Tortilla Chips
- Nuts & Seeds
- Distribution Channel Outlook
- Hypermarkets & Supermarkets
- Convenience Stores
Savory Snacks Market Report Scope and Segmentation
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
- Then, in May of 2021, Mondelez Internationl, Inc. announced an arrangement to purchase Chipta S.A., a major player with a high growth rate within the Central and Eastern European croissants and baked snack category.
- On March 20, 2021, Bikano launched a range of innovative sweet snacks available in northern India. The products found include Aloo Bhujia Lemon Chaska, Daal Mixture and Dry Fruit Mixture, among other products. Most of these are priced between INR five and INR 10 per package. The product launches came ahead of an ancient Indian festival called Holi, during which these savoury snacks are more popular.
- In January 2020, Lay’s in the United States launched three new flavour options for its chips across its entire product line: Lay’s Cheddar Jalape O, Lay’s Poppables Sea Salt and Vinegar, and Lay’s Kettle Cooked Flamin Hot.
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA