Global Savory Snacks Market Overview, 2023-28

Global Savory Snacks Market Overview, 2023-28

The global savory snacks industry has witnessed remarkable growth and innovation in recent years, captivating the taste buds of consumers around the world. Savory snacks, with their irresistible flavors and crunchy textures, have become an integral part of people's snacking routines, satisfying their cravings for delicious and convenient treats. From traditional favorites like potato chips and pretzels to exotic options like rice crackers and nachos, the global market offers a wide array of savory delights to suit every palate. The industry is driven by a combination of factors, including changing consumer lifestyles, the rising trend of snacking, and the continuous quest for new and exciting flavors. With the influence of globalization, consumers are increasingly exposed to diverse culinary traditions, giving rise to a demand for unique and exotic flavors in their snack choices. As a result, companies within the savory snacks industry are constantly innovating and experimenting to meet this growing demand, introducing novel flavors, healthier options, and convenient packaging formats. The global savory snacks industry is a dynamic and vibrant market, fueled by the ever-evolving preferences of consumers and the drive to create indulgent and satisfying snacking experiences. The history of the global savory snacks market is a fascinating journey that reflects the changing preferences and snacking habits of consumers across the globe. The origins of savory snacks can be traced back to ancient civilizations, where people sought convenient and flavorful food options. However, the modern-day savory snacks industry began to take shape in the early 20th century. Potato chips, one of the most iconic savory snacks, were first introduced in the United States in the late 19th century. Initially, they were a homemade snack enjoyed by individuals in their kitchens. However, as technology advanced and mass production techniques were developed, potato chips began to be manufactured on a larger scale. This marked the beginning of the commercialization and widespread popularity of potato chips as a savory snack. Over the years, the savory snacks market witnessed significant growth and diversification. Companies started introducing a wide range of snack options to cater to different tastes and preferences. Popcorn, pretzels, tortilla chips, cheese puffs, and various types of crackers emerged as popular choices among consumers. The globalization of food and the increasing influence of different cultures played a significant role in shaping the savory snacks market. Flavors and ingredients from around the world began to make their way into the snack aisle, offering consumers a taste of different cuisines and cultural experiences. As the demand for healthier snack options grew, the industry responded by introducing baked and low-fat alternatives to traditional fried snacks. Health-conscious consumers sought snacks that were not only tasty but also aligned with their dietary preferences.

According to the research report, Global Savoury Snacks Market Overview, 2023–2028, 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. The global savory snacks market continues to evolve, driven by consumer preferences, advancements in technology, and the quest for new taste experiences. Companies are investing in research and development to create healthier options, explore new flavors, and experiment with innovative packaging and formats. With a growing emphasis on health-conscious lifestyles, there is a rising demand for healthier savory snack options. Consumers are seeking snacks that are low in fat, sodium, and artificial ingredients. As a result, companies are introducing baked, air-popped, and low-fat varieties of savory snacks to cater to this trend. The increasing popularity of plant-based diets has also impacted the savory snacks market. Consumers are seeking snacks that are free from animal products and are made from plant-based ingredients. This has led to the introduction of innovative plant-based savory snacks, such as veggie chips, lentil crisps, and chickpea snacks. Globalization has brought a diverse range of flavors to the savory snacks market. Consumers are exploring new and exciting taste experiences by indulging in snacks with ethnic and international flavors. From spicy Indian-inspired snacks to tangy Mexican-flavored chips, the market is witnessing a proliferation of unique and exotic flavor profiles.

Based on the products types includes the Potato chips, Extruded snacks, Popcorn, Nuts & Seeds, Puffed snacks, Tortilla chips , Fruit & Vegetable chips , Pretzels, Meat Snacks and Others. At Global level the potato chips is having the highest market share, potato chips have a widespread appeal and are enjoyed by people of all ages and backgrounds. They offer a satisfying crunch, a range of flavors, and are easily accessible in various packaging sizes. One of the key trends driving the popularity of potato chips at a global level is the increasing demand for convenient snacking options. Potato chips are a portable and convenient snack that can be enjoyed on-the-go or as a quick bite at any time of the day. They fulfill the need for a convenient and satisfying snack solution for busy lifestyles. Another trend contributing to the dominance of potato chips is their versatility. Potato chips can be flavored in numerous ways, catering to different taste preferences. From classic flavors like salt and vinegar, barbecue, and sour cream and onion to more innovative and exotic flavors, potato chips offer a wide range of choices to suit diverse consumer palates. Potato chips have become a staple in social gatherings, parties, and entertainment events, further driving their popularity. They are often seen as a must-have snack for gatherings, making them a familiar and well-loved choice among consumers globally. There is a growing demand for healthier potato chip options. Consumers are increasingly seeking snacks that are made with minimal processing, have reduced sodium and fat content, and are free from artificial additives. As a result, companies are introducing baked, air-popped, or reduced-fat potato chips to cater to health-conscious consumers.

Based on the Distribution channel includes the Supermarkets & Hypermarkets, Retail, Convenience stores, Online stores, Speciality Stores and Others (Forecourt retailers, Discounters, Independent small grocers, etc.), at global level the Supermarket and hypermarket hold the highest market share, based on the category types includes the baked and fried, fried segment is leading the market, One of the key factors driving the dominance of fried snacks in the global market is their wide variety and availability. Fried snacks come in various forms such as potato chips, corn chips, cheese puffs, and fried dough snacks. This diverse range of options caters to different taste preferences and provides consumers with a plethora of choices.

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.

***Please Note: It will take 48 hours (2 Business days) for delivery of the report upon order confirmation.