Western European Savory Snacks Market Business Strategies, Acquisitions, Revenue Analysis Share, Forecast to 2028 | by PepsiCo, The Kraft Heinz Company, The Kellogg Company

New Jersey, United States - Analysis of Western European Savory Snacks Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast

The market for savory snacks in Western Europe was estimated to be worth USD 250.5 billion in 2021, and it is anticipated to rise at a CAGR of 4.9% from 2022 to 2028. Food makers are offering healthier savory snack choices in an effort to appeal to the new "curious customer" in response to consumer desire for more adventurous healthy snacking experiences. Consumers' eating habits are being impacted by increasing urbanization and hectic lifestyles, which are leading them to gradually replace primary meals with more adaptable, light, and convenient snacking options.

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The market for Western European savory snacks was estimated at USD 250.5 billion globally in 2021, and it is anticipated to rise at a CAGR of 4.9% from 2022 to 2028. Food makers are offering healthier savory snack choices in an effort to appeal to the new "curious customer" in response to consumer desire for more adventurous healthy snacking experiences. Consumers' eating habits are being impacted by increasing urbanization and hectic lifestyles, which are leading them to gradually replace primary meals with more adaptable, light, and convenient snacking options.

Savory snacks created in France are becoming more popular on the French market. PepsiCo proudly displays labels for its Lay's trademark that state that all of the company's potatoes are French. To further emphasize the Frenchness of its products, it has also added flavors and brand names like Mediterranean and Paysanne. Similar tactics have been used by Intersnack (Vico) to stress its sole reliance on French potatoes and advertise its French factories by adding a French flag on the front of its product packaging.

A few new trends in the market were inspired by the COVID-19 pandemic restrictions. People who were stranded at home began to munch much more, and major companies like PepsiCo saw a rise in sales of snacks, according to Mondelez International. According to Harris Poll 2021, nine out of ten Europeans said they snack as often as they did previously. This trend is partly attributed to the development of remote working in Europe and Russia. These elements are probably going to encourage the market for savory snacks to expand.

According to Mondelez International's 2020 State of the Eating survey, 88% of people adopted or continued their snacking habits throughout the pandemic as a source of comfort and a way to break up the monotony of quarantine. Many businesses decided to make the digital shift and develop direct-to-consumer e-commerce platforms in order to take advantage of the new opportunities the COVID-19 epidemic had brought about in the digital sphere.

For instance, PepsiCo introduced two direct-to-consumer websites in the United States in May 2020 called Pantryshop.com and Snacks.com, where customers may order a variety of the brand's products. More than 100 Frito-Lay items, including Lay's, Tostitos, Cheetos, and Ruffles, as well as dips, crackers, and nuts, are available for purchase on Snacks.com. Such efforts by important market participants are likely to fuel market expansion. Consumers today demand indulgence, adventure, flavor, and added health advantages, which creates new opportunities for manufacturers as snack trends change.

Division segment:
By product: The market share leader in 2021 was the potato chips section, and it is anticipated that it will continue to dominate during the projected period. The launch of fresh tastes and roasted potato chips with health advantages is anticipated to boost the market growth. For instance, the Simply Roasted brand introduced its new line of Better For You potato crisps in April 2021. These crisps were made in Norfolk using a unique roasting process, and they cost the business almost USD $20 million and developed 10 years. The company is introducing new flavors of chips, including sea salt, mature cheddar, and red onion, sea salt and cider vinegar, etc.

By distribution channel: The supermarkets and hypermarkets contributed the most to the global market in 2021. The availability of a large range of items offered by numerous branded and private labels in these formats, along with shifting consumer preferences, are expected to positively affect demand. According to a survey released in June 2019 by 360 Packaging, 70% of purchases made for snacks in brick-and-mortar stores are unplanned, and the majority of supermarkets take advantage of consumers' propensity for impulsive buying in this area.

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Competitive analysis:
Some of the key players operating in the Western European Savory Snacks market include:
• PepsiCo
• The Kraft Heinz Company
• The Kellogg Company
• Calbee
• Hain Celestial
• Conagra Brands, Inc
• General Mills, Inc.
• Blue Diamond Growers
• ITC Limited

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This release was published on openPR.