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Explore Global Industry Insight in Savory Snacks Market - Growth, Demand and Development in Upcoming Years

Savory Snacks Market

Savory Snacks Market

The high growth of savory snacks market in Asia-Pacific region is mainly coming from the increasing demand from China and India, as they constitute large part of the global and regional population. The healthier alternatives to savory snacks, such as bakery products, fresh fruits, and juices, are hindering the savory snacks market growth; which is compelling companies to offer healthier snacking options. The demand for small pack sizes have been increasing considerably in certain countries, such as India and Mexico, due to increasing consumption from lower income groups and demographic changes.

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People are demanding varieties in snacks, which is encouraging companies to launch new products. Several companies have been announcing the launch of products with new tastes, flavours, and shapes to maintain their competitiveness in the market. Moreover, customers’ increasing inclination towards organic foods is compelling the savory snack companies to innovate their products for customer retention.

Earlier, snacks were considered as a break time light food. However, in the recent times people have been increasingly eating them between the meals. Snacks are being considered as fourth meal of the day in U.S. Americans are forerunners amongst the snack eaters between the meals as they love to snack everywhere from theater, to workplace, to car, and even on the subway. A similar culture exists in Brazil, where snack is a part of breakfast.

The U.K. is the forerunner in snack consumption across Europe. According to a food research company, the U.K. people snack 825 times a year as compared to the 807 times of the European consumers’ average. People in the age group 6years to 24 years are the largest savory snack consumers in U.K.

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The U.K. leads the savory snacks market in Europe; however, it is not the largest consumer in terms of per capita consumption. Countries such as Netherlands, Norway and Spain have a greater per capita consumption of savory snacks as compared to their British counterparts. According to European Snacks Association (ESA), the average annual per capita savory snacks consumption in Europe is about 3.6 kilogram.

The increasing numbers of supermarkets and hypermarkets coupled with growing per capita income is encouraging people for bulk buying of savory snacks, which is mostly offered by the large scale retail. Convenience stores are another format which is growing at global level due to peoples’ growing demand for convenience.

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The global savory snacks market has a fragmented structure with a large number of companies operating in the market. Some of the major companies include PepsiCo., Kraft Foods, ConAgra Foods, CALBEE, Diamond Foods, General Mills, Intersnack Group GmbH, Lorenz Bahlsen, Kellogg company, and Orkla ASA.

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P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.

As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.

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