Savory Snacks Market By Product (Potato Chips, Corn & Tortilla Chips), Distribution Channel (Hypermarkets & Supermarkets, Online), & Region for 2024-2031

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Savory Snacks Market Valuation – 2024-2031

Savory snacks are getting super popular because they're so flexible! You can really make them your own, fitting all sorts of diets, cultural traditions, and how people like to live their lives all over the world. And with the world getting more connected, people are craving snacks that remind them of the amazing food and flavors from different cultures. That's why we're seeing cool stuff like spicy tortilla chips, wasabi peas, and curry crackers popping up – they're all about keeping up with what everyone wants. This trend is set to push the market past a whopping USD 205.9 Billion in 2024, and is expected to hit around USD 457.96 Billion by 2031.

Savory snacks? People are really craving them! It's a mix of things, really – our tastes are changing, our lives are different, and we're thinking more about what we eat. These snacks are winning us over globally because we're snacking more often, want crazy different flavors, and are looking for stuff that's healthier, easier to grab, and maybe even reminds us of home. Snack companies are getting super creative to keep up, so the savory snack world should keep getting bigger and better. Get ready for tons of new flavors and cool food ideas! This market is even expected to grow at a CAGR of 6.19% from 2024 to 2031.

Savory Snacks MarketDefinition/ Overview

Savory snacks include a wide range of culinary delicacies that entice the palate with their rich flavors, textures, and scents. Savory snacks which range from crunchy chips to savory crackers are a pleasant indulgence that satisfy cravings while also providing a flavorful respite from the everyday. These snacks are distinguished by their savory, salty, or umami flavors which are frequently enhanced by a range of spices, herbs, and seasonings. Savory snacks are popular globally and are considered a staple in many cultures providing a practical and pleasant option for on-the-go snacking, entertaining visitors, or simply enjoying a savory treat.

The most common use of savory snacks is as a quick and convenient source of nutrition for people on the road. Whether it’s a busy professional looking for a noon energy boost or a student looking for a fast nibble between courses, savory snacks offer a simple way to fulfill hunger cravings without requiring intricate preparation or cooking. Potato chips, pretzels, popcorn, and crackers are all portable and easily available making them an easy method to satisfy hunger and provide a much-needed energy boost for daily tasks.

The future of savory snacks will see changes in flavor profiles and ingredients to meet a wide range of consumer preferences. Consumers are looking for novel and exotic flavors from all around the world as food culture becomes more global and multicultural. This trend is pushing the creation of new and fascinating taste combinations in savory snacks such fiery kimchi and tangy mango chili. Furthermore, using ethnic spices and seasonings will give savory snacks more depth and complexity providing consumers with a sensory experience that goes beyond standard flavor bounds.

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Will the Increasing Convenience and Portability Drive the Savory Snacks Market?

Living in cities these days? You know the drillcrazy work hours, long commutes, and trying to squeeze in some semblance of a social life. This leaves practically zero time to cook a proper meal, right? That’s why grabbing something quick and easy isn't a treat anymore; it's basically a requirement. Think about ityoung professionals hustling, students cramming, and busy parents juggling everything—they all need something fast, nutritious, and actually tasty to keep them going. Snacks are the answer! And because of this, the snack food world is booming, with companies churning out all kinds of goodies to fit every possible craving and diet.

The growing demand for portable snacks has prompted innovation in the varieties of snacks on the market. Manufacturers are continually creating new goods that blend convenience, nutrition, and taste. Healthier snack choices such as protein bars, nut mixes, and fruit snacks have grown in popularity as customers seek energy and nutrition while remaining convenient. These goods are frequently fortified with vitamins, minerals, and other useful components to promote general health and wellness. For example, snacks containing superfoods such as chia seeds, quinoa, and kale appeal to health-conscious consumers seeking nutrient-dense options.

The confluence of demanding schedules, increased urbanization, and changing customer preferences is causing a dramatic transition in the snack food market. The increased demand for portable, easy-to-eat snacks that require little to no preparation has resulted in the growth of single-serve and resealable packaging options. The demand for convenience is impacting product innovation, packaging technology, and retail strategy resulting in a dynamic and continuously changing industry. As producers adapt to these developments, the future of savory snacks promises to be even more varied, innovative, and sustainable appealing to modern consumer’s broad requirements and interests.

Will Health Concerns Hamper the Savory Snacks Market?

Despite the increasing need for healthier snack options, many consumers continue to consider savory snacks as unhealthy due to their high fat, salt, and calorie content. This view provides a huge challenge to the sector potentially hindering its growth as health-conscious consumers may choose alternative snacks or limit their overall consumption of savory snacks. Understanding and addressing these challenges is critical for the industry’s continued expansion and adaptation to changing consumer preferences.

Health-conscious customers are becoming increasingly aware of the health risks linked with excessive intake of conventional savory snacks. This population values nutritional content and frequently wants snacks that fit into a balanced diet emphasizing natural ingredients, lower fat content, lower sodium, and fewer calories. As a result, there is a growing demand for snacks that offer these health benefits without sacrificing taste or convenience. However, if the savory food business does not sufficiently address these nutritional concerns, it risks alienating this important consumer niche and impeding market growth.

The savory snacks sector confronts hurdles due to the idea that traditional goods are harmful; nonetheless, there are several potential for expansion through innovation and reformulation. The industry may address health concerns and fulfill the demands of a more sophisticated consumer base by emphasizing the creation of healthier snack options capitalizing on advances in food technology, and using transparent labeling and effective marketing methods. Embracing these changes will not only assist to continue market development but will also improve consumer well-being promoting a positive and sustainable future for the savory snacks business.

Category-Wise Acumens

Will the Increasing Demand for New Flavors Drive the Product Segment?

Potato chips is emerging as a leading segment in the savory snacks segment due to widespread popularity and customer demand. This dominance is expected to continue owing to a series of strategic developments and innovations in the industry. The ongoing introduction of new flavors is one of the key elements leading to the potato chip segment’s continued supremacy. The technologies respond to changing consumer tastes by providing a diverse range of options that appeal to a wide population.

The potato chips segment is well-positioned to capitalize on developing trends and customer preferences in order to maintain its growth rate. The continued emphasis on flavor innovation, health-conscious options, technology developments, and strategic expansion plans will fuel market growth and solidify the segment’s leadership position. Manufacturers successfully traverse hurdles and capitalize on opportunities in an increasingly competitive marketplace by remaining quick and responsive to changing market dynamics.

Will the Changing Consumer Preferences Drive the Distribution Channel Segment?

Hypermarket and supermarket distribution channels have developed as significant contributors to the worldwide market landscape. Their importance originates from their ability to efficiently cater to changing consumer preferences as well as their diverse product range which includes both well-known brands and private labels. This dynamic has dramatically increased consumer demand across multiple regions with far-reaching implications for market dynamics and consumer behavior.

Hypermarkets and supermarkets have gained popularity due to their extensive product offerings which include everything from everyday necessities to specialized items. This breadth of services meets a wide range of customer needs increasing convenience and choice for shoppers. Furthermore, the inclusion of both branded and private labels in these formats demonstrates their responsiveness to market changes and consumer demands for quality and price.

Hypermarkets and supermarkets have emerged as key drivers of the worldwide market. The capacity to react to changing consumer preferences provide a varied choice of products, and implement competitive pricing methods highlights their importance in the retail market. As they adapt through digital innovation and strategic expansion, these retail formats are positioned to preserve their growth trajectory and position as global retail sector.

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Country/Region-wise Acumens

Will the Increasing Adoption of Healthy Lifestyles Drive the Asia Pacific Region?

Asia Pacific’s revenue domination in the savory snacks market demonstrates the region’s critical role in driving global consumption patterns and market dynamics. Within this vast region, nations such as India, Japan, and China stand out as important development drivers fueled by a combination of socioeconomic factors and altering consumer preferences. India’s rising population and fast expanding middle class present a substantial market opportunity for savory snacks. As urbanization accelerates and lifestyles become more chaotic, convenience-oriented food options, such as savory snacks see increased demand.

In addition to these broad trends, individual segments of the savory snacks market are witnessing significant expansion driven by shifting consumer preferences and market dynamics. Popcorn is one such component that has evolved as a popular snack choice throughout Asia and the Pacific. Popcorn with its light and crunchy texture is a better alternative to classic fried treats making it a popular choice among health-conscious consumers. Furthermore, popcorn’s adaptability allows for a wide range of flavor variations to suit to different taste preferences and culinary trends.

So, what's driving the savory snacks scene in Asia Pacific? It's a mix of things, really – the way we live, what we want, and even what we think is good for us! Big players like India, Japan, and China are really boosting things, thanks to more people caring about health and wellness, packing into cities, and generally changing up their routines. What's cool is seeing how things like better-for-you snacks and popcorn are blowing up, because more and more of us are hunting for snacks that are easy, tasty, and good for us. As the market keeps changing to keep up with us and what we want, Asia Pacific is probably going to stay a huge influence on how the whole world snacks.

Will Increasing Demand for Vegan Diets and Plant based Healthy Options Drive Region in Europe?

The demand for savory snacks is increasing in various European nations including Norway, Germany, the Netherlands, and Spain establishing the region as a key market for savory snack growth. This development is primarily driven by a shift in consumer eating patterns with regular meals increasingly being supplanted by snacking options. This shift toward snacking as a meal replacement is transforming the food scene with savory snacks emerging as a popular choice due to its convenience, portability, and flavor variety.

The European market for savory snacks has seen an increase in knowledge of protein-rich snacking options and their health advantages. As protein becomes more popular as a macronutrient associated to satiety, muscle recovery, and weight management, consumers are actively looking for savory snacks that are both convenient and appealing. This trend has fueled the creation of a wide range of protein-rich savory snacks including meat-based options like jerky and salami sticks as well as plant-based alternatives like roasted edamame and lentil crisps.

Europe's savory snack scene is really shaking up! People's tastes are changing, driven by things like wanting convenient snacks, being more health-conscious, and following the latest diet trends. We're seeing a huge jump in the popularity of plant-based and protein-rich snacks. Plus, folks want to know exactly what they're eating and are demanding healthier options. This is really boosting the savory snack market in places like Norway, Germany, the Netherlands, and Spain. As snack companies keep getting creative and offering more variety to satisfy what we want, the future of savory snacks in Europe is looking pretty tasty and good for us, appealing to all sorts of diets and lifestyles!

Competitive Landscape

The savory snacks market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.

Some of the prominent players operating in the savory snacks market include

  • PepsiCo
  • The Kraft Heinz Company
  • The Kellogg Company
  • Calbee
  • Hain Celestial
  • Conagra Brands, Inc.
  • General Mills, Inc.
  • Blue Diamond Growers
  • ITC Limited
  • Grupo Bimbo

Latest Developments

  • In March 2021, Future Group announces plans to offer Terra Chips, a US-based company, in India. To expand, Hain Celestial Group went into a joint venture to make Terra Chips in India.
  • In September 2021, Kazoo introduced the world’s first water-saving tortilla chips. The company’s snacks contain 40% corn germ, which is generated from maize starch.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2021-2031

Growth Rate

CAGR of ~6.19% from 2024 to 2031

Base Year for Valuation

2024

Historical Period

2021-2023

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Product
  • Distribution Channel
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

PepsiCo, The Kraft Heinz Company, The Kellogg Company, Calbee, Hain Celestial, Conagra Brands, Inc., General Mills, Inc., Blue Diamond Growers, ITC Limited, Grupo Bimbo

Customization

Report customization along with purchase available upon request

Savory Snacks Market, By Category

Product

• Potato Chips• Corn & Tortilla Chips

Distribution Channel

• Hypermarkets & Supermarkets• Online

Region

• North America• Europe• Asia-Pacific• South America• Middle East & Africa

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

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Pivotal Questions Answered in the Study

Some of the key players leading in the market include PepsiCo, Inc., The Kraft Heinz Company, General Mills, Inc., Kellogg Company, Conagra Brands, Inc., Mondelez International, Inc., The Hershey Company, Nestlé S.A., Blue Diamond Growers, Snyder’s-Lance, Inc.
The primary factor driving the savory snacks market is shifting consumer preferences towards conv

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