The latest report by IMARC Group, titled “Savory Snacks Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the savory snacks market insights. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
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 Trends:
The global savory snacks market is experiencing robust growth due to the increasing consumer preference for convenient and ready-to-eat food products. The rising urbanization and fast-paced lifestyles are driving the demand for quick, portable snack options that cater to the need for on-the-go consumption. Additionally, the growing awareness of healthy eating habits is leading to an increased demand for low-fat, low-sugar, and nutrient-rich savory snacks. Innovations in product formulations, such as the incorporation of natural ingredients and exotic flavors, are attracting a broader consumer base.
Along with this, the expansion of retail channels, including supermarkets, hypermarkets, and online platforms, is further facilitating easy access to a wide variety of savory snacks. Furthermore, aggressive marketing strategies and promotional activities by leading brands are significantly boosting market visibility and consumer engagement. Apart from this, the rising disposable income and the willingness to spend on premium and gourmet snack products are also contributing to the market growth, making savory snacks a popular choice across different age groups.
Savory Snacks Market Scope and Growth Analysis:
The market encompasses a wide range of products, including chips, pretzels, nuts, popcorn, and meat snacks. This market caters to various consumer segments, from children and teenagers to adults and the elderly, each with distinct taste preferences and dietary needs. The growth analysis reveals a positive trajectory, driven by continuous product innovation and the introduction of new flavors and variants to meet evolving consumer demands. In addition, the increasing trend of snacking between meals is contributing to the market's expansion.
Concurrently, the adoption of advanced packaging solutions that enhance shelf life and product appeal is supporting market growth. The rising trend of plant-based and vegan savory snacks is attracting health-conscious consumers, further broadening the market scope. Strategic collaborations between snack manufacturers and health and wellness brands are fostering the development of nutritious snack options. Moreover, ongoing research and development and strategic market expansion initiatives are creating a positive market outlook.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- Arca Continental,
- A. B. de C. V.,
- Calbee, Inc.,
- Conagra Brands, Inc.,
- 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, and
- PepsiCo, Inc.
Savory Snacks 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
- Other
Breakup by Sales:
- Retail Sector
- Foodservice Sector
Breakup by Region:
- North America (USA, Canada)
- Europe (Germany, France, UK, Italy, Spain, Russia, others)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, others)
- Middle East/Africa
- Latin America (Brazil, Mexico, others)
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 firm that provides management strategy and market research worldwide. We work with clients in every sector and geography to identify their most valuable opportunities, address their most important challenges and transform their businesses.
The IMARC Group's information offerings include key market trends, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high technology sectors. Market forecasts and industry analysis in biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and innovative processing methods are among the company's top areas of expertise.
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