Savory Snack Products Market Overview
Savory Snack Products Market size was valued at US$ 215.84 Bn. in 2023. Global Savory Snack Products Market is estimated to grow at a CAGR of 5.4% over the forecast period.
Savory snacks are foods that have a salty or spicy flavour rather than a sweet flavour. These snacks are made with a variety of ingredients, including vegetables, fruits, grains, nuts, seasonings, and vegetable oils. These snacks are high in nutrients, minerals, vitamins, and fibre. Potato and maize chips, pretzels, popcorn, meat nibbles, nuts, and seeds are the most common savoury snacks.
Savory Snack Products Market Report Scope and Research Methodology
The market is predicted to rise in response to the growing popularity of meat-based snacks and the development of the retail sector:
Strips, steaks, bits, and sticks have expanded beyond beef to include chicken and turkey, as well as wild species such as elk, boar, bison, and ostrich. Sweet barbeque, spicy sriracha, and savoury teriyaki are just a few of the flavours available. Beef and pork are popular, but turkey jerky and bison jerky are gradually gaining popularity. Jerky allows you to enjoy a quick meat snack throughout the day without leaving your desk or battling over the workplace microwave, in addition to the variety of meats and tastes.
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Savory Snack Products Market Regional Insights
The North American region dominated the savory snack products market with a 33.2% share in 2023. Customers continue to value the portability, convenience, and indulgence that savoury snacks provide. The sanctification tendency amongst consumers in the region is an all-day convention, with consumers of all ages eating at least once a day. Chips and tortilla corn chips are the two most popular snack choices among Americans, with crisps accounting for the most dollar value sales. Different preparation techniques, such as toasted coconut kale chips, oven-roasted sweet potato chips, and a wide variety of roasted almonds, are expanding the taste map and increasing the demand for savoury snacks in the United States.
Savory Snack Products Market Segmentation
By Product, the market is segmented as Extruded Snacks, Potato Chips, Popcorn, Nuts & Seeds, and Others. Potato Chips Segment dominated the market with a 32.8% share in 2023.
The introduction of roasted potato chips and new flavours with significant health benefits is expected to have a positive impact on the savory snack products market’s growth. Potato chips are popular among consumers because of their flavour, low cost, and ease of availability. Potato chip consumption has increased over time, and dynamic variations in consumption patterns have prompted important market participants to reinvent their products. These product portfolios now include newer product lines and are growing rapidly.
Savory Snack Products Market Key Players
Nestle SA (Switzerland)
Hain Celestial (US)
Conagra Brands (US)
Mars, Incorporated (US)
The Lorenz Bahlsen Snack-World GmbH & Co KG Germany (Germany)
Campbell Soup Company (US)
Old Dutch Foods Inc. (US)
Amica Chips S.p.A. (Italy)
Intersnack Group GmbH & Co. KG (Germany)
Tropical Heat (Kenya)
Grupo Bimbo (Mexico)
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Key questions answered in the Savory Snack Products Market are:
- What is Savory Snack Products?
- What was the Savory Snack Products market size in 2023?
- What is the growth rate of the Savory Snack Products Market?
- Which are the factors expected to drive the Savory Snack Products market growth?
- What are the different segments of the Savory Snack Products Market?
- What growth strategies are the players considering to increase their presence in Savory Snack Products?
- What are the upcoming industry applications and trends for the Savory Snack Products Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Savory Snack Products Market?
- What segments are covered in the Savory Snack Products Market?
- Who are the leading companies and what are their portfolios in Savory Snack Products Market?
- What segments are covered in the Savory Snack Products Market?
- Who are the key players in the Savory Snack Products market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024-2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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