Savory Snacks Market Overview:
The Savory Snacks Market was estimated at USD 188.9 billion by 2030, and this is anticipated to increase at a CAGR of 4.85 percent from 2023 to 2032. Food makers are offering healthier savory snack choices in an attempt to appeal to the new "curious customer" in response to consumer desire for more adventurous healthy snacking experiences. Consumers' eating habits are being impacted by increasing urbanization plus hectic lifestyles, which are leading them to gradually replace primary meals with more adaptable, light, as well as convenient snacking choices.
The North American Savory Snacks Market is a robust and dynamic segment of the region's food industry, driven by changing consumer preferences, busy lifestyles, and a growing demand for convenient and flavorful snack options. Savory snacks, which include a diverse range of products such as potato chips, pretzels, nuts, popcorn, and snack mixes, cater to a variety of taste preferences and occasions, from on-the-go snacking to casual gatherings and movie nights. Key drivers of market growth in North America include increasing urbanization, rising disposable incomes, and the proliferation of snacking occasions throughout the day. Additionally, factors such as the influence of multiculturalism, innovation in flavor profiles and packaging, and the growing popularity of healthier snack alternatives contribute to the expansion of the savory snacks market. Market players continually innovate with new product formulations, packaging designs, and marketing strategies to capture consumer interest and maintain competitiveness in a crowded market landscape. Despite concerns regarding health and nutrition, the North American savory snacks market continues to thrive, presenting opportunities for both established brands and emerging players to introduce innovative and satisfying snack options that resonate with today's consumers.
Market Segmentation:
The Savory Snacks Market is Segmented by Item, Flavor, Region
By Item
The industry for savory snacks is segmented into potatoes, nuts, chips, seeds, popcorn, and many others depending on what is sold there. The potato portion is anticipated to grow at a CAGR of 4.9 percent during the anticipated time frame, making it the segment that will do so the fastest. This is primarily related to the creation of novel tastes and broiled potato chip benefits. Less fat, high potassium, and fewer calorie levels are all contributing to the growth of this market segment.
By Flavor
According to flavor, the Savory Snacks Market is divided into Roasted/Toasted, Spice, Barbeque, and Beef sections. Grill has the largest offer in the industry in 2020. This can be mostly inferred from the fact that it incorporates supplements and provides great flavors. Furthermore, no spread or oil is needed, and there are several options available, both of which are contributing to the growth of this market.
Key players:
The major Key Savory Snacks Market Companies of the are mentioned below:-
- Kraft Heinz Company (US)
- PepsiCo (US)
- The Lorenz Bahlsen Snack-World GmbH & Co KG (Germany)
- Premium Brands Holdings Corporation (Canada
- Diamond Foods LLC (US)
- CALBEE, Inc. (Japan)
- JACK LINK'S, LLC. (US)
- Orkla ASA (Norway)
- Conagra Brands, Inc. (US)
- General Mills, Inc. (US)
- Intersnack Group GmbH & Co. KG (Germany)
- Kellogg Co. (US)
- Mondelez International (US)
- Nestle SA (Switzerland)
- ITC Limited (India)
By Region
In 2020, North America held the largest Savory Snacks Market share, accounting for 38% of the total. It is due to an increase in the demand for complete meals and accommodations as well as an increase in the consumption of low-calorie snacks. According to the U.S. Food Industry Association, 68 percent of savory snacks are consumed in the country, which increases the demand for savory snacks. However, it is anticipated that throughout the projected timespan, the Asia-Pacific area will experience the fastest development. This can be deduced from evolving food trends and increased
Industry News:
In the forecasted period of 2022 to 2029, the industry for savory snacks is anticipated to increase. The industry for savory snacks is expected to grow at a CAGR of 4.50 percent between 2022 and 2029.
Instead of having a sweet flavor profile, savory snacks generally have a salty or spicy flavor. They are produced with a variety of components, including vegetable oils, nuts, vegetables, grains, fruits, and seasonings. These salty snacks are incredibly nutritious, fiber, vitamin, plus mineral dense.
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