The global Savory Snacks Market is expected to reach USD 218.44 billion by 2025, according to a new report by Grand View Research, Inc. The rising health awareness coupled with growing consumption of healthy snacks is expected to drive demand for the product.
Savory snacks are majorly categorized as snacks that are not sweet in taste. The market growth of these products is driven by health considerations and consumer taste. The presence of numerous flavors coupled with rising R&D investment by major industry players in order to introduce new products is further expected to propel growth over the coming years.
The major products in the market are potato chips, nuts & seeds, extruded snacks, and popcorn. The growing consumption of convenience food is expected to fuel the demand for the product. The changing retail landscape and the rise of e-commerce are expected to have a positive impact on the growth over the next nine years.
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Further key findings from the report suggest:
- Nuts & Seeds are expected to be the fastest growing segment with a CAGR of 9.4% from 2016 to 2025 on account of rising demand from Japan and Brazil
- Convenience stores are expected to be the highly preferred distribution channel in 2025 with a share of over 33% on account of easy availability of the products
- The roasted/toasted flavored savory snacks are the largest flavor segment in the market growing at a CAGR of over 8.0% from 2016 to 2025. The familiarity of taste and availability of a large number of products in this flavor are expected to drive the demand.
- Asia Pacific is the fastest growing regional segment with market share of over 30% in 2015. The growing demand from developing countries such as India, Indonesia, and Thailand is expected to propel the demand over the next nine years.
- The industry participants are constantly engaged in improving their operations and introduction of new flavors to gain market share. The industry is characterized by high marketing costs and rising investments in order to improve the supply chain of the company.
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Grand View Research has segmented the global savory snacks market on the basis of product, distribution channel, flavor and region:
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
Key Topics Covered
Chapter 1. Methodology & Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
1.3. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Snapshot
Chapter 3. Savory Snacks Market Variables, Trends & Scope
3.1. Market segmentation & scope
3.2. Penetration & growth prospect mapping
3.3. Value Chain Analysis
3.4. Raw Material Trend
3.5. Market Dynamics
3.5.1. Market driver analysis
3.5.2. Market restraint analysis
3.6. Savory Snacks Market – SWOT Analysis, By Factor (political & legal, economic and technological)
3.7. Industry Analysis – Porter’s
Chapter 4 Consumer Behavior Analysis
4.1 Consumer Trends & Preferences
4.2 Factors Affecting Buying Decision
4.3 Consumer Product Adoption
4.4 Observations & Recommendations
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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