Savory Snack Products Market: Global Industry Analysis and Forecast (2024-2030) by Product, Flavor, and Region.

Savory Snack Products Market Definition:

Savory snacks are foods that have a salty or spicy flavour rather than a sweet flavour. These snacks are made with a variety of ingredients, including vegetables, fruits, grains, nuts, seasonings, and vegetable oils. These snacks are high in nutrients, minerals, vitamins, and fibre. Potato and maize chips, pretzels, popcorn, meat nibbles, nuts, and seeds are the most common savoury snacks.

 

Small servings of savoury snacks should be consumed in between meals. The savory snack products market is expected to develop due to increased consumption of low-calorie snacks and increased demand for baked food products among customers. With the help of cutting-edge technology, the market for savoury snacks is constantly expanding. The producer’s primary focus is on advertising, as they promote their products through online platforms while working with e-retailers.

 

 

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Savory Snack Products Market Dynamics:

The market is predicted to rise in response to the growing popularity of meat-based snacks and the development of the retail sector:

Strips, steaks, bits, and sticks have expanded beyond beef to include chicken and turkey, as well as wild species such as elk, boar, bison, and ostrich. Sweet barbeque, spicy sriracha, and savoury teriyaki are just a few of the flavours available. Beef and pork are popular, but turkey jerky and bison jerky are gradually gaining popularity. Jerky allows you to enjoy a quick meat snack throughout the day without leaving your desk or battling over the workplace microwave, in addition to the variety of meats and tastes.

 

The retail industry is one of the world's main sales channels for savoury snack products. The United States, Canada, the United Kingdom, France, Australia, and other industrialised countries have a wide network of supermarkets and hypermarkets that serve the majority of the population. These elements of the retail industry are fuelling the growth of savory snack products market.

 

Overconsumption of savoury snacks can result in a variety of health problems, which is limiting the market's growth:

Overindulgence is the disadvantage of chewing. Eating too many snacks might increase calorie intake and as a result, weight gain problem occurs. Consuming too much of an unhealthy snack can result in long-term consequences such as obesity, high cholesterol, and even teeth decay. Unwanted weight gain if snacking portions or frequency are excessive, resulting in an excess of calories. Snacking excessively might diminish hunger at mealtimes or induce one to skip a meal entirely, putting one at danger of missing out on essential nutrients. Obesity prevalence in the United States was 42.4%, according to data from the Centers for Disease Control and Prevention (CDC). These major health concerns are hampering the growth of the savory snack products market.

 

Meat-based snacks are becoming increasingly popular which is creating a huge opportunity for the market:

 

Consumer demand for meat-based snacks is increasing as consumer awareness of healthy snacking habits grows, bolstering the Savory Snack Products Market. Protein is required in their savoury snack packs for several reasons, including satiety, weight loss, energy, muscle support, healthy ageing, and general nutrition. This opens the door for protein-rich snacks, such as lean beef or turkey, to be included in a normal diet, allowing market players to create more meat-based snack options.

 

Unorganized players are fighting back hard, posing a significant challenge to the industry:

 

Because of busy lifestyles and a higher level of living, demand for ready-to-eat snacks has increased, necessitating increased manufacturing of savoury snack products. The market for savoury snack goods is highly fragmented, particularly in Asia and North America. As a result, local snack product makers in these areas select low-cost equipment, which lowers the quality of their products.

 

Savory Snack Products Market Segment Analysis:

By Product, the market is segmented as Extruded Snacks, Potato Chips, Popcorn, Nuts & Seeds, and Others. Potato Chips Segment dominated the market with a 32.8% share in 2023.

 

The introduction of roasted potato chips and new flavours with significant health benefits is expected to have a positive impact on the savory snack products market's growth. Potato chips are popular among consumers because of their flavour, low cost, and ease of availability. Potato chip consumption has increased over time, and dynamic variations in consumption patterns have prompted important market participants to reinvent their products. These product portfolios now include newer product lines and are growing rapidly.

 

However, The Nuts & Seeds segment is expected to grow at a CAGR of 3.5% through the forecast period. Nuts may help the heart if eaten as part of a balanced diet. Unsaturated fatty acids and other nutrients can be found in nuts. They're also a terrific snack meal because they're cheap, easy to keep and pack. Nuts have the disadvantage of being heavy in calories, therefore portion control is essential.

 

By Flavor, the market is segmented as Barbeque, Spice, Beef, and Roasted. The Spice segment dominated the savory snack products market with a 39.2% share in 2023. In the snack food market, spicy flavour is quite significant. Chilli pepper boosts the flavour—heat, pungency, warmth, and bite—as well as the colour of prepared dishes in the spicy flavour category. These substances are frequently available in extract form for food makers. Consumer preference for dishes that contain heat has expanded dramatically as regional cuisines have become more globalised.

 

However, The Roasted segment is expected to grow at a CAGR of 5.2% through the forecast period. Roasted Savory Snacks increase the flavour by adding a variety of flavours. This section is primarily popular in North America. Roasted snacks are popular in countries such as the United States and Canada because they are high in nutrients, vitamins, and minerals. Due to rising urbanisation in many emerging countries such as the United Kingdom, Germany, and Mexico, roasted snacks are predicted to expand in popularity.

Savory Snack Products Market Regional Insights:

The North American region dominated the savory snack products market with a 33.2% share in 2023. Customers continue to value the portability, convenience, and indulgence that savoury snacks provide. The sanctification tendency amongst consumers in the region is an all-day convention, with consumers of all ages eating at least once a day. Chips and tortilla corn chips are the two most popular snack choices among Americans, with crisps accounting for the most dollar value sales. Different preparation techniques, such as toasted coconut kale chips, oven-roasted sweet potato chips, and a wide variety of roasted almonds, are expanding the taste map and increasing the demand for savoury snacks in the United States.

 

However, The Asia Pacific region is expected to grow at a CAGR of 7.2% through the forecast period. In the Asia-Pacific region, growing income levels and improving employment rates are fuelling the expansion of savoury snacks. The largest category in Asia-Pacific is nuts and seeds.

 

The key reasons driving the expansion of the savoury snacks market are a large population, rising urbanisation, and an increasing middle-class population. Furthermore, rising premiumization and rising consumer health consciousness are propelling the industry forward. Furthermore, as people become more aware of the dangers of excessive salt and fat consumption, the demand for nuts and seeds in the region is increasing.

 

The objective of the report is to present a comprehensive analysis of the Global Savory Snack products market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Savory Snack products market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the global market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Savory Snack products market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Savory Snack products market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the global market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Global Savory Snack products market. The report also analyses if the Global Savory Snack products market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few

Players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Savory Snack products market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Savory Snack products market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the global market is aided by legal factors.

 

Savory Snack Products Market Scope:

Savory Snack Products Market
Market Size in 2023	USD 215.84 Bn.
Market Size in 2030	USD 311.91 Bn.
CAGR (2024-2030)	5.4%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Product Extruded Snacks Potato Chips Popcorn Nuts & Seeds Others
	By Flavor Barbeque Spice Beef Roasted
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Savory Snack Products Market Key Players:

• Nestle SA (Switzerland)
• Hain Celestial (US)
• Conagra Brands (US)
• Mars, Incorporated (US)
• The Lorenz Bahlsen Snack-World GmbH & Co KG Germany (Germany)
• Campbell Soup Company (US)
• Old Dutch Foods Inc. (US)
• Amica Chips S.p.A. (Italy)
• Intersnack Group GmbH & Co. KG (Germany)
• Tropical Heat (Kenya)
• Grupo Bimbo (Mexico)
• Blue Diamond Growers (US)
• The Kraft Heinz Company (US)
• Universal Robina Corporation (Philippines)