Savory Snacks Market to Witness Heightened Growth During the Period 2020 – 2027

Savory snacks are healthy snacks that includes dips, salads, crackers, pates, desserts, cookies, pretzels and more. Some of the more popular savory snacks include Buffalo Chicken Dip, Black Bean Dip, Chicken Teriyaki Chicken Dip, Cheddar Cheese Dip, French Goat Cheese Dip, Hawaii Tomatoes, Hot Pepper Sauce, Roasted Peanuts, Sesame Chicken, Soy Bean Dip and Tomato Kabobs. Buffalo Chicken Dip is a fast and easy way to add a delicious dip to any of favorite meals while also increasing protein intake. Moreover, savory snacks have no artificial ingredients.

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Competitive Landscape:

PepsiCo Inc., Kellogg Company, Kraft Heinz Company, Conagra Brands, Inc., Campbell Soup Company, Calbee Inc., Lorenz Bahlsen Snack-World GmbH & Co KG, Orkla ASA, Mondelez International Inc., and Intersnack Group GmbH & Co. KG.

Key Market Drivers:

Growing demand for healthy snacks products is driving growth of the savory snacks market. For instance, in October 2021, Tosi announced the launch of a delicious and allergy-friendly new product line – Tosi SuperPops. It is available in four crowd-pleasing flavors, Everything, Salty Sweet, Smoky BBQ and Cinnamon Apple, SuperPops are a light, crunchy, and simply satisfying plant-based snack made with puffed ancient grains and organic seeds

Rapid urbanization and changing eating habits are other major factor fostering growth of the market. According to the United Nation, in 2018, 55% of the world’s population lives in urban areas, a proportion that is expected to increase to 68% by 2050.

Covid-19 Impact Analysis

After the COVID-19 virus spread, food &beverage industries moved decisively to protect their employees, secure supply chains, and address other concerns. In the early stage, F &B market and grocery stores were closed but later it has created a massive spike in online grocery delivery services. However the situation is still serious and governments are imposing social-distancing policies, key players are now looking ahead to the time when the situation becomes normal. Moreover, major players are looking for adopting various strategies for reimagining and reforming their business

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Key Takeaways:

1. The savory snacks market is expected to exhibit a CAGR of 4.50 % over the forecast period owing to the growing demand for healthy snacks and expanding online retail channel.

2. North America is expected to witness significant growth over the forecast period owing to the high preferences for snack food over traditional meal. According to The Food Institute, it was found that consumption of snack foods at meals increased from 21% of eating in 2010 to 26% in 2020. According to the 2021 Pollock Communications and Today’s Dietitian What’s Trending in Nutrition survey—78% of registered dietitian nutritionists believe that consumer eating habits are shifting away from the traditional three meals a day to more frequent snacking.

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This release was published on openPR.