Global Savory Snacks Market Outlook, 2028

Global Savory Snacks Market Outlook, 2028

Growing consumer demand for healthy options is influencing categories across savoury snacks. Consumers are seeking protein-based options for a variety of reasons, such as satiety, energy, muscle support, weight loss, healthy ageing, and general nutrition. Products that offer convenience and great taste along with healthy ingredients could be a winning strategy for manufacturers. Millennials are expected to contribute to the industry's growth during the forecast period due to their increased hunger for snacks. Consumers' increased awareness of the health benefits of salty snack consumption is a crucial trend that will have a significant impact on the global savoury snack market's growth. Snacks are low in calories and gluten-free, making them ideal for people with diabetes and obesity. Consumers opt to spend money on sugar-free, healthier food products because they are concerned about the food they eat. Because diabetes has become a global problem, the food and beverage industry is working to combat it by introducing sugar-free products. The availability of a wide range of flavours and growing consumer disposable income in Asia Pacific are also anticipated to drive growth in the global savoury snacks market during the forecast period. Additionally, it is projected that in the upcoming years, the worldwide market for savoury snacks will develop in response to the rising demand for potato chips. One of the main factors propelling the growth of the savoury snack market is the rising popularity of snacking. Snacking has increased as a result of hectic and active lifestyles. Customers want portable, easy-to-eat snacks that they can have on the go. People are consuming a nutrient-rich diet with ease thanks to their increased health consciousness. Thus, it is projected that the market for ready meals will expand in the next few years. In certain areas, consumers place a higher priority on quick and simple meals than on hearty ones. As a result, the market is expanding somewhat due to the increasing acceptance of healthy eating and changing lifestyles. The consumption and production of a variety of convenience goods, such as savoury snacks, have also gradually increased, and it is projected that this multi-decade pattern of expansion will continue soon. These markets are also growing thanks to technology. These may be produced and provided with ease. Consequently, the growth has caused the revenue to stabilise. The younger generation is consistently gaining interest in nutrient-dense foods that taste better than diet foods in today's world. As a result, the savoury snack market and the food industry in general have seen rapid expansion as a result of the growing awareness and availability of healthy food.

According to the research report, Global Savoury Snacks Market Outlook, 2028, published by Bonafide Research, the global savoury snacks market is anticipated to cross USD 263.04 Billion, increasing from USD 195.16 Billion in 2022. The market is expected to grow at a CAGR of 5.16% by 2023–2028. There has been an increase in the number of health-conscious customers worldwide over the past few years. The demand for health-focused food products has increased as a result of people's active and healthy lifestyles. As a result, these snacks serve the same purpose as meals for children. While obesity, food sensitivities, and the number of people who are ill continue to rise, a healthy way of life is becoming more and more common. As a result, the demand for healthy food has significantly increased as a result of the population's increased awareness of health and wellness. As a result, there has been an increase in the savoury snack market, which has increased food industry demand in various regions. Busier lifestyles and a growing preference for convenient and on-the-go food options have fueled the demand for savoury snacks. Consumers seek quick and satisfying snacks that can be easily consumed at work, during travel, or while engaging in various activities. The rise of snacking as a prevalent eating habit has significantly influenced the savoury snack market. Snacking is no longer limited to between meals but has become a regular part of consumers' daily routines. This trend has created a continuous demand for a variety of savoury snack options. Consumers are constantly seeking new and exciting flavour experiences. Flavour innovation plays a crucial role in driving the growth of the savoury snack market as manufacturers introduce unique and bold flavours inspired by different cuisines and consumer preferences. Exposure to diverse cultures and cuisines through travel, migration, and the media has influenced consumer preferences for savoury snacks. People are more open to trying international flavours and seeking out snacks that offer a taste of different cultures. Rising disposable income levels in many regions have allowed consumers to indulge in premium and higher-priced savoury snack options. This has contributed to the growth of the market as consumers are willing to spend more on unique and premium snack experiences.

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. At the global level, potato chips cover the largest market share. Potato chips have achieved universal appeal and are enjoyed by people of all ages and cultures around the world. They have become a staple snack, favoured for their crispy texture and addictive taste. Potato chips offer a wide range of flavours and varieties to cater to diverse consumer preferences. From classic flavours like salted and barbecue to innovative and exotic options, there is a potato chip variant for everyone. This versatility and variety appeal to consumers seeking different taste experiences. Furthermore, potato chips are convenient and portable, making them an ideal snack for on-the-go consumption. Their pre-packaged format and long shelf life make them easily accessible, allowing consumers to satisfy their snacking cravings anytime and anywhere. Potato chip manufacturers are consistently introducing new flavours, textures, and packaging innovations to keep up with changing consumer demands. They invest in research and development to create unique and innovative potato chip varieties that entice consumers and drive market growth. As well as the potato chips, which evoke nostalgic memories and emotions associated with comfort, indulgence, and relaxation. This emotional connection further strengthens the preference for potato chips as a go-to snack option. In the future, tortilla chips will grow at the highest growth rate. Mexican cuisine has gained widespread popularity worldwide, with dishes like tacos, nachos, and quesadillas becoming beloved favourites. Tortilla chips, a staple in Mexican cuisine, are a natural complement to these dishes. As the demand for Mexican food continues to rise globally, so does the popularity of tortilla chips. Health-conscious consumers are increasingly seeking out healthier snack alternatives. Tortilla chips, made from corn, are often perceived as a healthier option compared to traditional potato chips due to their lower fat content and natural ingredients. They are often gluten-free and can be enjoyed by individuals with dietary restrictions. Tortilla chips have successfully transcended their Mexican origins and have been incorporated into fusion cuisine worldwide. They are used as a base for creative and innovative toppings, dips, and salsas that combine various culinary traditions. This versatility has contributed to their growing popularity on a global scale.

Based on the regions covered in this report, Europe, North America, Asia Pacific, South America, the Middle East, and Africa dominate the global market. The Asia-Pacific region is home to a vast and diverse population, including emerging economies like China and India, which have a significant consumer market. The sheer size of the population contributes to the region's dominance in the global savoury snack market. Rapid urbanisation, increasing disposable incomes, and changing consumer preferences have resulted in a shift towards snacking as a popular eating habit in the Asia-Pacific region. As lifestyles become busier, consumers seek convenient and tasty savoury snacks to satisfy their cravings. Snacking is deeply ingrained in the culinary cultures of many countries in the Asia-Pacific region. Snacks are often associated with socialising, celebrations, and leisure time, making them an integral part of everyday life. This cultural significance drives the demand for a wide variety of savoury snacks. Furthermore, the region is home to several well-established and successful local savoury snack brands that cater to the preferences and tastes of the local population. These brands have built trust and loyalty among consumers over the years, allowing them to dominate the market. The Asia-Pacific region is receptive to snack innovations and new product launches. Manufacturers in the region constantly introduce new flavours, formats, and packaging to cater to evolving consumer preferences. This focus on innovation and product development contributes to the region's dominance in the global market.

Based on the category types segment, which includes baked goods and fries, at the global level, the fried segment is leading the market due to Fried savoury snacks are known for their delicious and crispy texture, which creates a satisfying eating experience. The deep-frying process gives these snacks a desirable crunchiness that appeals to consumers worldwide. The combination of savoury flavours and a crispy texture makes them highly enjoyable and addictive. Fried savoury snacks come in a wide range of options, including potato chips, corn chips, cheese puffs, fried crackers, and more. This diverse selection caters to different taste preferences and allows consumers to choose their favourite flavours and textures. The availability of various shapes, sizes, and seasonings adds to the appeal and popularity of these snacks. Fried savoury snacks are convenient and portable, making them suitable for on-the-go consumption. They are often packed in convenient packaging that can be easily carried and consumed anytime, anywhere. This convenience factor aligns with the busy and fast-paced lifestyles of consumers, contributing to their popularity. Snacking has become an integral part of modern eating habits globally. Consumers increasingly rely on snacks as a quick and convenient source of sustenance and enjoyment. Fried savoury snacks perfectly fulfil this need, offering a convenient and tasty snacking option that can be enjoyed as a standalone snack or paired with other foods. 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.). At the global level, supermarkets and hypermarkets play a very important role. Hypermarkets and supermarkets have the highest market share. Hypermarkets and supermarkets offer a vast selection of products, including savoury snacks, under one roof. They provide a comprehensive range of brands, flavours, and varieties to cater to diverse consumer preferences. This extensive product range attracts customers and allows them to conveniently find and purchase their desired savoury snacks. Hypermarkets and supermarkets leverage their large-scale operations and purchasing power to negotiate better deals with suppliers. This allows them to offer competitive prices to consumers, often lower than smaller convenience stores or specialty shops. The cost savings attract price-conscious consumers and contribute to the high market share of these retail formats.

Based on the flavour types segment, which includes barbecue, spice, salty, plain/unflavored, and others (cheese, butter, smoke, umami, etc.), Plain or unflavored snacks are dominating the global market. While plain or unflavored savoury snacks are indeed popular and widely consumed, they dominate the global market. The savoury snack market is diverse and encompasses a wide range of flavours, textures, and varieties. Flavoured savoury snacks, such as potato chips with various seasonings, cheese puffs, nachos, and tortilla chips, hold a significant market share and cater to different consumer preferences. In the future, the spice segment will grow at the highest growth rate due to consumers' increasingly seeking bold and unique taste experiences. Spicy flavours provide a sensation of heat and intensity that adds excitement to the snacking experience. Manufacturers are responding to this demand by introducing new and innovative spicy flavour profiles, such as hot chilli, jalapeno, sriracha, and various regional spice blends. This flavour innovation attracts consumers and drives the growth of spicy savoury snacks. Spicy flavours are deeply rooted in many cultures around the world, including Asian, Mexican, Indian, and Middle Eastern cuisines. As globalisation continues to influence culinary preferences, consumers are becoming more open to exploring and embracing diverse flavours. Spicy snacks allow individuals to enjoy the flavours and heat reminiscent of these cultural cuisines in a convenient and snackable form.

Companies cover 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, The Hain Celestial Group, Inc., Link Snacks, Inc, Lorenz Snack-World, Universal Robina Corporation, Old Dutch Foods, Inc., McCain Foods Limited, Campbell Soup Company, ITC Limited and Calbee, Inc

Considered in this report

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

Aspects covered in this report

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

Regions & Countries covered in the report:

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

By Products Type

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

By Category types

• Baked
• Fried

By Flavoured Types

• Barbeque
• Spice
• Salty
• Plain/unflavoured
• Others (Cheese, Butter, Smoky, Umami, etc.)

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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