The global Savory Snacks Market size is expected to value at USD 218.44 billion by 2025. The market is subject to witness a substantial growth due to the increasing demand for packaged food, which is marginally processed and has a longer life span. Increasing health awareness among young population coupled with rising consumer pro-activeness towards health problems are some of the major contributing factors for sustained market growth over the forecast period. Changing food patterns is one of the essential factor responsible for expansion of savory snacks industry, in the recent years.
Other factors such as changing lifestyle preferences, growing demand for convenience food, and need for maximizing limited leisure time, are expected to fuel market growth in the upcoming years. Globally, the savory snacks market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market of savory snacks.
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Increasing demand for savory snacks over the traditional or ethnic food products in the global market is estimated to expand reach of savory snacks industry over the next seven years. However, rising safety concerns in regards to health hazards with excessive consummation of the products coupled with the substantial use of additives and artificial flavors is significantly hampering market growth.
Shifting trends towards convenience food among young population is responsible for market expansion during the forecast period. Growing focus towards convenience food products with longer shelf life, savory taste, texture, product quality, and the nutritional content, has led to development of innovative packaging solution by prominent industry players. Such factors are substantially escalating market performance of the savory snacks market, in the recent years.
The savory snacks industry is broadly categorized into four major segments based on the product type such as potato chips, extruded snacks, nuts & seeds, and popcorn. The potato chips is considered as one of the fastest growing segment in the market of savory snacks with substantial revenue generation in the last few years. Growing popularity of the potato chips segment is attributed to the introduction of new flavors and roasted potato chips with health benefits. The extruded snacks segment has also witnessed substantial growth owing to the inclusion of healthy ingredients.
The savory snacks market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies processed food industry, changing food patterns, increasing demand for convenience food products, introduction innovative snacks flavors, and existence of well-established manufacturing infrastructure in the region.
Asia-Pacific region is predicted to hold major market share in the savory snacks industry with massive growth in forecast period. Countries such as India, China and Japan are leading the Asia-Pacific market with increasing demand for packaged food, rising per capita income, ever-growing population, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the savory snacks market are PepsiCo, Inc., Kraft Foods, Inc., Kellogg, Inc., CALBEE, Inc., ConAgra Foods, Inc., Diamond Foods LLC, The Hain Celestial Group, Inc., General Mills, Inc., Arca Continental, S.A.B. de C.V., and Blue Diamond Growers Co.
Full Research Report on Global Savory Snacks Market Analysis available at: https://www.millioninsights.com/industry-reports/savory-snacks-market
Product Outlook (Revenue, USD Billion, 2014 – 2025)
• Potato Chips
• Extruded snacks
• Nuts & Seeds
Distribution Channel Outlook (Revenue, USD Billion, 2014 – 2025)
• Independent Retailers
• Convenience Stores
• Service Station
Flavor Outlook (Revenue, USD Billion, 2014 – 2025)
Regional Outlook (Revenue, USD Million, 2014 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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