Savory Snacks Market Assessment, Comparison with Prior Data and Key Insights Analyzed till 2022-2030
Food products such as potato chips, tacos, savory biscuits,
and other baked snacks containing salts are called savory
snacks. They are classified under the convenience food item because of
their time-saving nature.
The millennials are expected to boost the industry's growth
during the forecast period due to the burgeoning demand for snacks from these
set of individuals.
The rising awareness regarding the health benefits that can
be reaped from savory snack consumption is a leading trend among consumers,
which has a significant impact on the global savory snacks market's growth.
Savory snacks are gluten-free with low-calorie content,
which makes it edible for diabetes and obesity patients.
Consumers are conscious of the food they consume, so they
tend to spend on healthy food products that are sugar-free.
Diabetes has threatened the globe, and the food and beverage
industry is trying to curb it by innovating sugar-free products.
Furthermore, the availability of several different flavors
coupled with rising disposable income of consumers in the Asia Pacific are
factors anticipated to drive the global savory snacks market forward during the
forecast period.
Besides, the burgeoning demand for potato chips is expected
to boost the global market in a few years.
Savory Snacks Market
Growth Driven by Growing Consumers’ Demand for Healthy Food Products
Health consciousness is the key factor fueling the growth of
the food and beverage industry.
Consumers are more conscious of their health than ever, and
this has fostered several industries, especially the food processing industry,
to produce food items with impressive health benefits.
Manufacturers in the savory snacks market invest huge amounts
of money in research development to innovate products with high nutritive value
and health befitting properties.
Key players spend more on innovating new products since
consumers are more attracted to markets with varieties.
The incorporation of proteins in snack has further
instigated the tremendous growth of the savory snacks market.
Protein-rich snacks like lean beef, turkey are often tasty
and yummy when consumed, and this is expected to create a surge in demand for
savory snacks globally.
Moreover, the availability of savory snacks in various
retail stores is expected to fuel the industry’s growth during the forecast
period.
Consumers spend more on convenience food items when they
shop at retail stores, and this is the key factor driving the industry’s growth
presently.
Savory Snacks Market:
Region-wise Analysis
Geographically, North America’s global savory snacks market
is dominated by the growing demand for convenience food products and the rising
disposable income of consumers in the region.
The United States is slated to contribute significantly to
the industry’s growth in this region, followed by Canada.
Consumers in Europe are driven by the taste and convenience
offered by savory snacks.
As a result, Europe has ranked the second-largest market as
revenue is expected to increase drastically in the region.
Health consciousness among consumers also has significant
importance on the industry’s growth in the region.
The Asia Pacific is estimated to be the fastest-growing
market with a double-digit CAGR during the forecast period.
Rising disposable income, growing population size, and
increasing demand for convenience food fuel the growth in the Asia Pacific.
Other regions will register moderate growth over the
forecast period.
Savory Snacks Market:
Competitive Landscape
The global market is highly competitive with no dominant
player. Leading players continue to adopt strategies like product innovation,
and advertisement to fuel the growth of the industry. The major players
operating in the market are;
- General
Mills
- ConAgra
Foods
- ITC
Limited
- The
Kellogg’s Company
- PepsiCo
Inc.
Region-wise Analysis
·
North America (U.S., Canada)
·
Latin America (Mexico, Brazil)
·
Europe (Germany, U.K., France, Italy, Spain,
Poland, Russia)
·
East Asia (China, Japan, South Korea)
·
South Asia (India, Thailand, Malaysia, Vietnam,
Indonesia)
·
Oceania (Australia, New Zealand)
·
Middle East & Africa (GCC Countries, Turkey,
Northern Africa, South Africa)
Global Savory Snacks
Market Segment Analysis
The global savory snacks market can be segmented on the
following basis:
By Type
- Potato
Chips
- Extruded
Snacks
- Nuts
and Seeds
- Popcorn
- Meat
Snacks
- Others
By Distribution Channel
- Supermarkets/Hypermarkets
- Online
Store
- Specialty
Stores
- Convenience
Stores
- Others
Main Report Link: https://www.futuremarketinsights.com/reports/savory-snacks-market
Comments
Post a Comment