Press release
Savory Snacks Market to Grow at 5.2% CAGR, Projected to Reach Nearly USD 395.32 Billion by 2030
Savory Snacks Market Research Report
The savory snacks market, a dynamic and rapidly evolving segment of the food industry, is poised for significant growth. According to recent analysis, the market size, valued at USD 277.23 billion in 2023, is expected to reach nearly USD 395.32 billion by 2030, with a robust CAGR of 5.2%.
The savory snacks sector caters to a wide array of consumer preferences with products ranging from traditional potato chips and pretzels to innovative options like veggie chips and protein-packed snacks. This diversity addresses the increasing consumer demand for both indulgent and health-conscious snack choices. With a growing emphasis on health, consumers are gravitating towards snacks that offer nutritional benefits without compromising on taste. The market has seen a surge in organic and clean-label products, with simple, transparent ingredient lists. Roasted nuts, seeds, and lightly seasoned options are becoming favorites among health-conscious consumers.
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Savory Snacks Market Scope and Methodology:
This report aims to provide a thorough understanding of the Savory Snacks market, focusing on market-oriented strategies. It identifies key trends, growth drivers, challenges, and potential opportunities. The data is gathered using both primary and secondary research methods. Primary data is obtained through interviews and surveys with key industry stakeholders, including manufacturers, suppliers, distributors, customers, and experts. Secondary data is sourced from industry reports, market analyses, corporate websites, annual reports, trade journals, government publications, and databases.
The report includes a detailed analysis of the business strategies of top companies, such as partnerships, mergers, acquisitions, and collaborations. A SWOT analysis is used to assess the company's market position, highlighting strengths, weaknesses, opportunities, and threats. The Savory Snacks Market is analysed using feasibility studies, investment return analyses, and Porter's Five Forces framework. Global and regional Savory Snacks market sizes are calculated using a bottom-up approach.
Savory Snacks Market Regional Insights:
The Regional Analysis section provides an overview of the current situation of the Savory Snacks market in each participating country. It is crucial to consider local perspectives due to the complex nature of the Savory Snacks industry. The Savory Snacks market is divided into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. Each region's market size, growth rate, import and export details, and other specifics are examined in detail.
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Savory Snacks Market Segmentation:
by Product
Potato chips
Nuts & seeds
Extruded snacks
Popcorn
Others
by Flavors
Spice
Salty
Plain/Unflavored
Other Flavors
by Distribution Channel
Convenience stores
Supermarkets
Retailers
Others
Based on product, the Potato Chips segment led the Savory Snacks Market in 2023. The Potato Chips category is the undisputed leader in the Savory Snacks Market for a variety of convincing reasons. Potato chips have universal appeal, with a wide range of flavors and textures to fit a variety of taste preferences. Their crunchy, delicious crunch makes them a popular snack for people of all ages. The simple packaging of potato chips makes them more accessible, enabling for easy consumption on the move, at home, and at social occasions. Continuous innovation in flavor profiles and product formulations keeps the category active and relevant in an ever-changing snacking landscape.
Savory Snacks Market Key Players:
1. PepsiCo, Inc.(USA)
2. Kellogg Company (USA)
3. The Kraft Heinz Company (USA)
4. General Mills, Inc. (USA)
5. Mondelez International, Inc. (USA)
6. Conagra Brands, Inc. (USA)
7. Campbell Soup Company (USA)
8. The Hershey Company (USA)
9. Mars, Incorporated (USA)
10. Frito-Lay (USA)
11. Grupo Bimbo, S.A.B. de C.V. (Mexico)
12. Utz Brands, Inc. (USA)
13. Snyder's-Lance, Inc. (USA)
14. The Hain Celestial Group, Inc. (USA)
15. Hormel Foods Corporation (USA)
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Key questions answered in the Savory Snacks Market are:
• Who are the leading companies and what are their portfolios in the Savory Snacks Market?
• What segments are covered in the Savory Snacks Market?
• Who are the key players in the Savory Snacks market?
• Which application holds the highest potential in the Savory Snacks market?
• What are the key challenges and opportunities in the Savory Snacks market?
• What is Savory Snacks?
• What was the Savory Snacks market size in 2023?
• What will be the CAGR at which the Savory Snacks market will grow?
• What is the growth rate of the Savory Snacks Market?
• Which factors are expected to drive the Savory Snacks market growth?
• What are the different segments of the Savory Snacks Market?
• What growth strategies are players considering to increase their presence in Savory Snacks?
• What are the upcoming industry applications and trends for the Savory Snacks Market?
• What recent industry trends can be implemented to generate additional revenue streams for the Savory Snacks Market?
Key Offerings:
• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price trends by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segments | 2024-2030
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation - Detailed analysis by segment and sub-segments and Region
• Competitive Landscape - Profiles of key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional Players
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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