Asia-Pacific Savory Snacks Market Outlook, 2028

Asia-Pacific Savory Snacks Market Outlook, 2028

The growing curiosity to taste different exotic flavours and textures is promoting market opportunities. The food industry is maintaining the balance by experimenting with the unique flavour of food for every age group, which consequently drives the market size. Growing awareness by the food industry towards health and providing nutritious food to their consumers is increasing market opportunities. Driven by changing consumer preferences, urbanisation, and the growing influence of global food trends, the savoury snacks market in Asia-Pacific has witnessed significant growth. The rise of snacking culture, busy lifestyles, and increasing disposable incomes has contributed to the increased demand for convenient, tasty, and on-the-go snack options. This has created fertile ground for both local and international brands to thrive. While traditional recipes hold a special place in the hearts of consumers, the Asia-Pacific savoury snack market is also embracing innovation. Snack manufacturers are blending traditional flavours with modern twists, incorporating unique ingredients, and experimenting with new textures to captivate the adventurous palates of consumers. This fusion of tradition and innovation results in an exciting array of snacks that cater to a diverse range of tastes. The Asia-Pacific savoury snack market is heavily influenced by the rich and diverse cultures of the region. Each country brings its own unique flavours, ingredients, and snacking traditions. For example, China offers a plethora of crispy snacks, Malaysia delights with spicy and tangy flavours, and South Korea presents an array of unique and innovative snack creations. These cultural influences not only shape taste profiles but also create a sense of authenticity and nostalgia for consumers. Savoury snacks often hold cultural significance in the Asia-Pacific region. They are associated with various customs, rituals, and social gatherings. Snacks are shared during family gatherings, tea ceremonies, religious ceremonies, and other communal events. They serve as a means of bonding, showing hospitality, and expressing cultural identity. The use of traditional ingredients and flavours is a distinguishing feature of the Asia-Pacific savoury snack market. Local spices, herbs, and condiments are carefully selected to create unique and distinct flavours. For instance, the use of chilli peppers and lemongrass in Thai snacks adds a fiery and citrusy kick, while the combination of soy sauce, ginger, and sesame oil in Japanese snacks brings out the umami flavours.

According to the research report Asia Pacific Savoury Snacks Market Outlook, 2028, published by Bonafide Research, the Asia Pacific Savoury Snacks market is expected to grow at a 5.78% CAGR by 2023–28. The Asia-Pacific region has seen a rise in snacking culture as a result of rapid urbanisation, a rise in the number of working professionals, and a rise in the pace of life. Snacks that can be consumed anywhere on the go, at work, or while having fun are becoming increasingly popular with consumers. Savoury snacks meet the ever-changing requirements of consumers who are strapped for time by offering a quick and filling alternative. Economic growth and increasing disposable incomes in many countries across the Asia-Pacific region have expanded the purchasing power of consumers. As a result, consumers have more discretionary income to spend on indulgent food items, including savoury snacks. This has led to an increased demand for premium and gourmet snack products. Furthermore, the influence of Western snack culture has played a significant role in shaping consumer preferences and diversifying the savoury snack market in Asia and the Pacific. Global brands and Western-style snacks have gained popularity among consumers, introducing new flavours, textures, and product formats. This expanded the range of options available to consumers and created a more diverse and dynamic market. Based on the category types, which include baked and fried, in the Asia Pacific region, the fried segment is leading the savoury market due to the fact that fried snacks offer a satisfying and crunchy texture that is highly enjoyable to consumers. The process of frying creates a crispy exterior that adds an element of indulgence and pleasure to the snacking experience. The irresistible crunch is a key factor that attracts consumers and keeps them coming back for more. Frying savoury snacks enhances their flavours by intensifying the natural aromas and creating a desirable balance of tastes. The high heat involved in frying helps to release and develop the flavours of the ingredients, resulting in a more pronounced and savoury taste. This enhanced flavour profile makes fried snacks highly appealing to consumers. Furthermore, fried snacks have a strong cultural presence in many countries across Asia and the Pacific. Traditional snacks, such as samosas in India, tempura in Japan, and spring rolls in China, are often deep-fried as part of their preparation. These snacks have a long-standing cultural significance and are deeply ingrained in the culinary traditions of the region, further contributing to their popularity.

Asia Pacific is the largest market for savoury snacks globally, accounting for a significant share of the industry's revenue. The region's diverse culinary traditions and large population contribute to its dominance in the savoury snack market. Asia Pacific is known for its wide variety of unique and flavorful savoury snacks. Each country within the region has its own signature snacks and flavours, reflecting the rich cultural diversity. Asia Pacific is a hub for snack innovation, with manufacturers constantly introducing new flavours, textures, and product formats. From spicy and tangy to sweet and savoury, there is a constant stream of new and exciting snack offerings on the market. This dynamic landscape keeps consumers engaged and eager to explore novel snack experiences. Social and cultural gatherings play a significant role in the consumption of savoury snacks in Asia and the Pacific. Snacks are shared among family and friends during festive celebrations, social gatherings, and special occasions, fostering a sense of togetherness and enjoyment. Based on the product types, there are potato chips, extruded snacks, popcorn, nuts and seeds, puffed snacks, tortilla chips, fruit and vegetable chips, pretzels, meat snacks, and others. In Asia Pacific, potato chips cover the highest market share. The Asia Pacific region is home to a significant portion of the world's population, including countries like China and India with immense consumer markets. The sheer size and diversity of the consumer base provide a substantial customer pool for potato chip manufacturers, driving high demand and consumption. In the future, popcorn will grow at the highest CAGR rate in the Asia-Pacific region due to the fact that snacking culture is deeply ingrained in the region, with consumers embracing the habit of snacking between meals. Popcorn's light and crunchy texture, coupled with its convenient and portable nature, makes it an ideal snack for on-the-go consumption. Whether enjoyed at home, in cinemas, or during social gatherings, popcorn is a convenient and satisfying choice for snacking. Furthermore, cinemas are popular in the Asia-Pacific region, and popcorn is closely associated with the cinema experience. Moviegoers often indulge in popcorn as a traditional snack during film screenings. With the increasing number of multiplexes and cinema complexes in the region, the demand for popcorn as a snack option is expected to grow.

Based on the distribution channel, it includes supermarkets and hypermarkets, retail, convenience stores, online stores, specialty stores, and others (forecourt retailers, discounters, independent small grocers, etc.). Supermarkets and hypermarkets have the highest market share due to the fact that supermarkets and hypermarkets offer a wide range of products, including savoury snacks, catering to diverse consumer preferences. They stock a vast selection of brands, flavours, and varieties, providing consumers with extensive choices. This comprehensive product assortment attracts customers and increases the market share of these retail formats. As well, supermarkets and hypermarkets have well-developed infrastructure and store layouts designed to enhance the shopping experience. They offer spacious aisles, organised product displays, and clear signage, making it easier for consumers to navigate and locate the desired savoury snacks. The comfortable and visually appealing environment encourages customers to spend more time exploring the aisles and increases the likelihood of making purchases. There are several supermarkets and hypermarkets that offer savoury snacks.

Based on the report, the Asia-Pacific market is segmented into five countries, including China, Japan, India, Australia, and South Korea. Among them, China will dominate the market in 2022. Over the years, China has experienced significant shifts in consumer preferences and lifestyles. As disposable incomes have risen and urbanisation has accelerated, there has been an increasing demand for convenient, on-the-go snack options. Savoury snacks, such as potato chips, popcorn, and nuts, have gained popularity among Chinese consumers as convenient and enjoyable snacking choices. Snacking has long been a part of Chinese culture, with a tradition of enjoying various types of snacks. From street food to packaged snacks, Chinese consumers have a deep-rooted appreciation for flavorful and diverse snack options. This cultural significance has contributed to the dominance of the savoury snack market in China. Furthermore, China has a robust domestic production capacity for savoury snacks. The country's manufacturing industry is well-established and has the capability to produce a wide range of snack products at competitive prices. This enables Chinese snack manufacturers to meet the demand of the domestic market effectively, giving them a competitive edge. China has a well-developed distribution network that reaches even the most remote areas of the country. This extensive network ensures that savoury snacks are readily available to consumers across various retail channels, including supermarkets, convenience stores, online platforms, and street vendors. The widespread accessibility of savoury snacks contributes to their market dominance in China.

Companies Covered in this Report
Nestlé S.A., PepsiCo, Inc, General Mills, Inc., The Kraft Heinz Company, Kellogg Company, Mondelez International, Inc, The Hershey Company, Mars, Incorporated, Conagra Brands, Inc, Blue Diamond Growers, Intersnack Group GmbH & Co. KG, Universal Robina Corporation, McCain Foods Limited, ITC Limited and Calbee, Inc.

Considered in this report

• Geography: Asia Pacific
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Asia Pacific Savory Snacks market with its value and forecast along with its segments
• Country-wise Savory Snacks market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Countries covered in the report:

• China
• Japan
• India
• Australia
• South Korea

By Products Type

• Potato chips
• Extruded snacks
• Popcorn
• Nuts & Seeds
• Puffed snacks
• Tortilla chips
• Fruit & Vegetable chips
• Pretzels
• Meat Snacks

By Category types

• Baked
• Fried

By Distribution Channel

• Supermarkets & Hypermarkets
• Retail
• Convenience stores
• Online stores
• Speciality Stores
• Others (Forecourt retailers, Discounters, Independent small grocers, etc.)

The approach of the report
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Artificial Lawn industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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