Global Savory Snacks Market Driving Factors and Future Prospects

Chicago, April 29, 2024 (GLOBE NEWSWIRE) — The savory snacks market is a large and growing industry that includes a wide variety of salty and flavorful snacks. These snacks are consumed between meals and can be enjoyed by people of all ages.

Some of the popular savory snack products include:

  • Potato chips
  • Popcorn
  • Extruded Snacks
  • Nuts and seeds
  • Tortillas
  • Puffed Snacks

What is the projected market size & growth rate of the savory snack products market?

The global savory snack products market size was valued at US$203.9 billion in 2022 and is anticipated to reach US$263.0 billion by 2027, recording a CAGR of 5.2% during the forecast period.

Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=182914305

Which are the Top Companies Operating in the Savory Snack Products Market?

  • PepsiCo (US)
  • Kellogg Co (US)
  • General Mills Inc. (US)
  • Calbee (Japan)
  • ITC LIMITED (India)
  • Mondelez International (US)
  • Nestle SA (Switzerland)
  • Grupo Bimbo (Mexico)
  • Hain Celestial (US)
  • Blue Diamond Growers (US)

Which are the Driving Factors of the Savory Snack Products Market?

  • Shifting Lifestyles and Busy Schedules: People these days have less time to cook elaborate meals. This has led to a surge in demand for convenient and portable snack options that can be consumed on-the-go. Savory snacks fit this bill perfectly.
  • Healthier Snacking Trends: Consumers are becoming more health-conscious and are seeking snacks that are not just tasty but also offer some nutritional value. Manufacturers are responding by introducing options with more protein, fiber, whole grains, and even probiotics.
  • Adventurous Palates: People are becoming more adventurous with their food choices. This is leading to a rise in demand for ethnic and exotic flavors in savory snacks. Think bold spices, international recipe inspiration, and globally inspired ingredients.
  • Plant-Based Boom: The rise of vegan and vegetarian diets is impacting the savory snack market. There’s a growing demand for plant-based snacks made from lentils, chickpeas, nuts, seeds, and other alternatives.

Which Segment is Projected to Grow at the highest CAGR in Savory Snack Products Market?

The nuts & seeds product segment is projected to grow at the highest CAGR in the global savory snack products market. Consumers preferences for snacks that deliver health, convenience, and taste have sparked recent innovations in several healthy snack segments. This is expected to drive the growth of nuts & seeds.

Buy this Report Now: https://www.marketsandmarkets.com/Purchase/purchase_reportNew.asp?id=18291430

Which Region is the Fastest Growing Region in Savory Snack Products Market?

Asia Pacific region is the fastest growing market for savory snack products.

This growth is driven by several factors, including:

  • Economic development in countries like China, India, Japan, and Australia.
  • Increasing urbanization and a growing preference for convenient food options.
  • Rising disposable incomes allow for more spending on packaged snacks.

Browse Related Reports:

Food Extrusion Market

Extruded Snacks Market

Prepared Food Equipment Market

Savory Ingredients Market

Snack Pellets Market

Snack Pellet Equipment Market

CONTACT: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy