Savory Snacks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Savory Snacks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global savory snacks market size reached US$ 129.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 175.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.

Savory snacks are food products that have a salty or spicy flavor instead of a sweet profile. They are manufactured using various ingredients such as vegetables, fruits, nuts, grains, vegetable oils and seasonings. They are rich in nutrients, minerals, vitamins and fibers. Usually consumed in-between meals in small quantities, the most prevalent variants include salted biscuits, potato and corn chips, popcorns, pretzels, meat snacks, nuts and seeds.

The growing food and beverage industry, along with an increasing preference for on-the-go snacking options, is one of the key factors driving the growth of the market. Owing to the changing lifestyles and hectic schedules of the working population, there has been a rise in the adoption of convenience food products such as savory snacks across the globe. Furthermore, owing to the growing consumer awareness for healthy snacking habits, manufacturers have introduced low-fat, gluten-free, organic, and protein-rich snacks, which are rapidly gaining popularity among consumers. The introduction of various meat-based snacks such as lean beef or turkey has also favored the market growth. Manufacturers are also offering a diversified product range to expand their consumer base and meet individual requirements in terms of flavor preferences and dietary needs. Factors such as rising disposable incomes and extensive research and development (R&D) activities to improve the production process and the quality of the product, along with convenient and attractive product packaging are also contributing to the growth of the market significantly.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global savory snacks market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, category, distribution channel and sales.

Breakup by Product:

Potato Chips
Extruded Snacks
Nuts and Seeds
Popcorn
Meat Snacks
Others

Breakup by Category:

Baked
Fried
Others

Breakup by Distribution Channel:

Supermarkets/Hypermarkets
Specialty Stores
Online Stores
Convenience Stores
Others

Breakup by Sales:

Retail Sector
Foodservice Sector

Breakup by Region:

North America

United States
Canada

Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Arca Continental, S. A. B. de C. V., Calbee, Inc., Conagra Brands, Inc., General Mills Inc., Hain Celestial Group, Inc., HALDIRAM FOODS INTERNATIONAL PVT. LTD, Intersnack Group, ITC Limited, Kellogg Company, Kraft Heinz Company, Lamb Weston Holdings, Inc, Premium Brands Holdings Corporation, and PepsiCo, Inc.

Key Questions Answered in This Report:

What was the size of the global savory snacks market in 2022?

What is the expected growth rate of the global savory snacks market during 2023-2028?

What has been the impact of COVID-19 on the global savory snacks market?

What are the key factors driving the global savory snacks market?

What is the breakup of the global savory snacks market based on the product?

What is the breakup of the global savory snacks market based on the category?

What is the breakup of the global savory snacks market based on the distribution channel?

What are the key regions in the global savory snacks market?

Who are the key players/companies in the global savory snacks market?