Savory Snack Products Market Trends, Top Companies, Share, Growth And Forecast 2033

The savory snack products market size has grown strongly in recent years. It will grow from $118.12 billion in 2023 to $127.02 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increased demand for convenience food, growing popularity of snacking, rise in disposable income and changing lifestyles, expansion of retail industry globally, increased urbanization.

The savory snack products market size is expected to see strong growth in the next few years. It will grow to $170.68 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to growing demand for healthy and organic snacks, increasing demand for premium and exotic flavors, rising demand for plant-based snacks, growing popularity of online retail channels, increasing demand for gluten-free and low-calorie snacks. Major trends in the forecast period include snack hybrids, innovative flavors and textures, sustainable and eco-friendly packaging, premium and artisanal snacks, snacking rituals and occasions.

Market Overview -
Savory snack product are savory foods that have a salty or spicy flavor rather than a sweet one. Savory foods, including grains, starch, veggies, seasonings, and vegetable oils, are used to make savory snack products.

Download Free Sample of Report -

https://www.thebusinessresearchcompany.com/sample.aspx?id=6746&type=smp

Convenience Food Products Fueling Growth In The Savory Snack Marke
The rise in the adoption of convenience food products is contributing to the growth of the savory snack products market going forward. Restaurant meals and ready-to-eat food from grocery stores are examples of convenience foods that save time in food purchase, preparation, and cleanup. Convenience food products are useful for people who have poor cooking skills or don't have time to search for and execute recipes from scratch and serve them as ready-to-eat meals. As a result, the rise in the adoption of convenience food products increases the demand for savory snack products. For instance, in July 2021, according to The Hindu Business Line, an Indian business newspaper, 79% of Indian households preferred to have instant food due to time constraints. Therefore, the rise in convenience food products is driving the growth of the convenience food products market moving forward.

Competitive Landscape -
Major companies operating in the savory snack products market include PepsiCo Inc., Kellogg Company, General Mills Inc., Calbee Inc., ITC Limited, The Hain Celestial Group Inc., Conagra Brands Inc., The Kraft Heinz Company, Mondelez International Inc., Nestlé S.A., Grupo Bimbo S.A.B. de C.V., Aviko B.V., Intersnack Group GmbH & Co. KG, Haldiram's Snacks Pvt. Ltd., Hormel Foods Corporation, Tyson Foods Inc., Lamb Weston Holdings Inc., McCain Foods Limited, Frito-Lay North America Inc, Parle Products Pvt Ltd, Anji Foodstuff Co Ltd, Blue Diamond Growers, Snyder's-Lance Inc., The Hershey Company, Lorenz Bahlsen Snack-World GmbH & Co. KG, Orkla ASA, pladis global, Want Want China Holdings Limited, Arca Continental S.A.B. de C.V., Universal Robina Corporation

Strategic Partnerships Transforming The Landscape Of The Savory Snack Product Market
Strategic partnerships have emerged as a key trend gaining popularity in the savory snack products market. Major companies operating in the savory snack products market are looking for partnerships to strengthen their position in the market. For instance, in June 2021, The Kellogg Company, a US-based savory snack products manufacturing company, partnered with Wendy's, a US-based holding company for the fast-food chain, in the savory snack products market. Through this partnership, the companies released a co-branded Pringles chip flavor, Wendy's Spicy Chicken. Furthermore, in May 2021, Utz Brands, Inc., a US-based savory snack products manufacturing company, partnered with Ferrara, a US-based candy company. Through this partnership, both companies created new and exciting snack food variety packs, including a range of indulgent sweet and salty snack foods, such as pretzels, cookies, popcorn, and cheeseballs.

Browse Full Report @

https://www.thebusinessresearchcompany.com/report/savory-snack-products-global-market-report

Key Segments -

The savory snack products market covered in this report is segmented -

1) By Product: Potato Chips, Extruded Snacks, Popcorn, Nuts and Seeds, Puffed Snacks, Tortillas, Other Products
2) By Flavor: Barbeque, Spice, Beef, Roasted or Toasted, Other Flavors
3) By Distribution Channel: Retailers, Online, Supermarkets and Hypermarkets, Convenience Stores, Other Distribution Channels

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Want To Know More About The Business Research Company?

The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.