(2020 - 2023) Global Savory Snacks Market - CAGR Status, Industry Analysis, Trends, and Forecast

Savory Snacks Market (2020 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Savory Snacks market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.

Savory Snacks Market report is anticipated to register a CAGR of 7.2% over a five years forecast period (2020 – 2023).”

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List of Major Key players operating in the Global Savory Snacks Market are –

  • Calbee Foods Co Ltd.
  • ConAgra Foods Inc.
  • ITC
  • Intersnack GmBH & Co
  • Mondelez International Inc.
  • PepsiCo
  • Kellogg Co.
  • Mondelez International Inc.
  • General Mills Inc

The global market for savory snacks was valued at USD 96 billion in 2016 is expected to reach USD 138.90 billion by 2023 at a CAGR of 7.20%. Savory snacks are the emerging fast food category in the global market. PepsiCo is the leading player in the snacks category.

Changing consumer food preferences

The global savory snacks market is largely driven by, changing lifestyles, food consumption habits; rise in disposable incomes and increasing food convenience. Mounting health concerns among consumers and food ingredient regulations by governments may restrain the savory snack market growth. The rising popularity of innovative products with different types of flavors and organic based savory products are market capturing opportunities.

Asia-Pacific is the fastest growing market

The various products include potato chips, extruded snacks, nuts, and seeds, traditional snacks, popcorn, pretzels, meat snacks, etc. Potato chips are highest in demand, followed by popcorn, traditional and nut snacks. The distribution channel is segmented into hypermarkets, supermarkets, convenience stores, departmental stores, specialty stores and online purchases.

The global savory snacks market is dominated by North America with 27% of total market share followed by Europe, Asia Pacific with 23%, South America and Africa. In North America, the USA is the largest consumer of savory snacks. Europe is the second largest consumer of savory snacks with the U.K., France, Germany, Spain and Italy being the major consumers. China and India are not only the largest consumer market in the Asia-Pacific region but are also the fastest growing market for savory snacks globally. These countries are supported by their large population, rapid urbanization, and increasing disposable income.

There is high competition in the global savory snacks market as the market is highly fragmented. The top ten global players have only 16% share of the overall savory snacks market. The local and regional snacks manufacturers cater to area-specific taste, which is very difficult for global players to capture. The entry for new players is easy because of the large number of alternatives in the same snacks category, low customer loyalty and high shifting habits in the market. Product launches of innovative flavors, organic and gluten-free products and mergers and acquisitions with local players have been the major business strategies for market growth.

Major players: CALBEE FOODS CO LTD., CONAGRA FOODS Inc., ITC, INTERSNACK GMBH & Co, MONDELEZ INTERNATIONAL Inc., PEPSICO, KELLOGG Co., MONDELEZ INTERNATIONAL Inc., GENERAL MILLS Inc.

Reasons to Purchase this Report

• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics which essentially consider the factors which are impelling the present market scenario along with growth opportunities of the market in the years to come
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information,

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Scope of the Report:

The report analyses Savory Snacks market, which includes –

  • Analysis of the growth of Savory Snacks market in global and regional level including Asia-Pacific, Americas, and EMEA.
  • The report provides Savory Snacks market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
  • The report offers country level Savory Snacks market volume and value by end-user segment for the period 2012-2023.
  • Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Savory Snacks market are discussed.
  • The report provides competitive landscape at country level for the year 2020. It also covers key policies and initiatives, key deals, and key upcoming projects.

Highlighted points of Savory Snacks Market Report:

  • Varying dynamics of the Savory Snacks industry.
  • Prospective changes in sales volumes and worldwide share growth in upcoming years (2020-2023).
  • Savory Snacks market report recognizes the key drivers of growth and challenges of the key industry players.
  • Competitors profiles along with product description, overview, and business data.
  • A complete analysis of market risks, opportunities, limitations, and growth of the market.
  • Market driving and restraining factors.
  • Delivers information on the historical and current market size and the future potential of the market.
  • Savory Snacks market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.

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Reasons to Purchase Savory Snacks Market Report:

  • The report analyses how stringent emission control norms will drive the global Savory Snacks market.
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
  • Study on the product type that is expected to dominate the market.
  • Study on the regions that are expected to witness the fastest growth during the forecast period.
  • Identify the latest developments, market shares and strategies employed by the major Savory Snacks market players.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel).

In this study, the years considered to estimate the market size of Savory Snacks:

History Year: 2013-2017
Base Year: 2017
Estimated Year: 2020
Forecast Year 2020 to 2023

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