Savory Snacks Market 2020-2026

Global Savory Snacks Market Size, Share & Trends Analysis Report by Product (Extruded Snacks, Potato Chips, Nuts & Seeds, Meat Snacks, Popcorn, and Others), by Distribution Channel (Conventional Stores (Offline) and Online Retail), Forecast Period (2020-2026).

The savory snacks market is anticipated to at a CAGR of 6.5% during the forecast period. Increasing urbanization levels leading to the growth of convenience food have surged remarkable growth in the savory snacks market. With the changing lifestyles and increasing purchasing power of the consumers, the demand for convenience foods is expected to increase at a faster rate during the forecast period, compared to the past five years. High preference for convenience products, particularly among middle-to-higher-income consumers, due to rising urbanization levels and busier lifestyles, is impacting the eating habits of consumers. With the rise in disposable incomes and busy lifestyles, consumers have been increasingly replacing main meals with more flexible, convenient, and light snacking options for the past few years. The popularity of snackification among the millennial has been a crucial factor driving the growth of convenience food.

The global savory snacks market is segmented based on product and distribution channels. Based on the product, the savory snacks market is segmented into extruded snacks, potato chips, nuts & seeds, meat snacks, popcorn, and others. Potato chips are expected to lead the market share in the products segment. The growth of potato chips is attributed to affordability, availability, ease of processing, and flavors infusion, apart from the robust demands from emerging markets of developing countries. The rising popularity of flavored potato chips, especially among children and younger adults, is expected to facilitate and sustain the growth of this segment. The distribution channel segment includes conventional stores (offline) and online retail.

Geographically the global savory snacks market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. PepsiCo, Inc., the Kraft Heinz Co., General Mills, Inc., and ConAgra Brands, Intersnack Group GmbH, ITC Limited, Lamb Weston Holdings, Inc., and The Hain Celestial Group, Inc., among others are some of the market leaders in the global savory snacks industry. The global savory snacks market is completely diverse and all sizes of enterprises are emerging in the savory snacks market. The key players are anticipated to increase investments toward forming partnerships with e-commerce enterprises to inflate their market value. The Frito Lay Corporation dominates the savory snack food sector, whereas, chips/crisps and tortilla/corn chips are the two most popular snack selections of American consumers, with chips/crisps capturing the highest value sales.

Research Methodology

The market study of the global savory snacks market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. the team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables the analyst to derive the closest possible figures without any major deviations in the actual number. the analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to the reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation:

1. Global Savory Snacks Market Research and Analysis by Product
2. Global Savory Snacks Market Research and Analysis by Distribution Channel

The Report Covers:

• Comprehensive research methodology of the global savory snacks market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global savory snacks market.
• Insights about market determinants which are stimulating the global savory snacks market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.