About Savory Snacks
Savory snacks are the food products that are full of flavor and taste that is already been cooked. These snacks can overcome human’s food craving anytime through the mid-morning, late afternoon, early morning or midnight grumble. The growing availability and affordability of savory snacks globally has coincided with dietary shifts in many parts of the world. Furthermore, these snacks are widely being consumed by low- and middle-income countries globally and this has boosted the market growth of savory snacks.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
The manufacturers of the savory snacks market continue to focus on developing new flavors in their products. Such developments coupled with competitive pricing are likely to assist in increasing market share over the forecast period. The key players are investing heavily in research & development to enhance their product quality and features to maintain their market presence in altering consumer buying preferences. Analyst at AMA Research estimates that United States, Europe, and Asian Countries Vendors will contribute the maximum growth to Global Savory Snacks market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
PepsiCo Inc. (United States), Intersnack Group GmbH & Co. KG (Germany), The Lorenz Bahlsen Snack(Germany), The Kellogg Company (United States), Orkla Group (Norway), Snyder`s-Lance Inc. (United States), Unichips Italia S.P.A. (Itlay) and Borges International Group (Spain) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Zweifel Pomy-Chips AG (Switzerland), Link Snacks Inc. (United States), General Mills, Inc. (United States), Conagra Brands, Inc. (United States) and ITC Limited (India).
Segmentation Overview
AMA Research has segmented the market of Global Savory Snacks market by Type (Potato Chips, Extruded Snacks, Nuts and Seeds, Popcorn, Meat Snacks and Others) and Region.
On the basis of geography, the market of Savory Snacks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by End Users, the sub-segment i.e. Kids will boost the Savory Snacks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Ingredient, the sub-segment i.e. Vegetable Oil will boost the Savory Snacks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Supermarkets/ Hypermarkets will boost the Savory Snacks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Number of Working Population Preferring Time Consuming Alternative Meals
Market Growth Drivers:
Increasing Demand for ‘on-the-go’ Food Products, Wide Consumption of Chips and Popcorn and Cost Efficiency and Availability of Wide Flavors in Savory Snacks
Challenges:
Excessive Intake of Savory Food May Cause Health Issue
Restraints:
High Manufacturing Cost Involved and Harmful Effects Upon Excessive Consumption
Opportunities:
Increasing Consumption of Meat Savory Snacks and Growing Adoption of Sweet and Salty Snacks in Retail Stores
Market Leaders and their expansionary development strategies
In July 2019, Intersnack Group acquired 40% stake of Universal Robina (URC) Oceania, a German snack food manufacturer. Financial details of the deal have not been disclosed. With this acquisition URC entered into a strategic partnership with Intersnack Group to boost operations in the snack food market.
In MAY 2023, Nature Valley is inviting everyone to savor the summer with its newest innovation, Nature Valley Savory Nut Crunch Bar, the first savory snack from the number one selling bar brand. Available in three flavors — Everything Bagel, White Cheddar and Smoky BBQ — each flavor profile creates an entirely new Nature Valley experience in one crispy nut bar, a departure from the classic Oats ‘n Honey bars that its fans know and love
Analyst View
The changing lifestyle of people and the feeling of craving at any time of the day is driving the demand for the savory snacks. Also, the growing awareness of people for healthy snacks is creating new opportunities for the key players in the market. The European and Asian manufacturers will contribute to the maximum growth of the global savory snacks market throughout the predicted period
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Savory Snacks Manufacturer, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.