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Global Savory Snack Products Market: Surging to $136.58 billion by 2025 with CAGR of 7.5%, Powered by Convenience Food Demand and Changing Lifestyles
Global Savory Snack Products Market
Significant drivers such as rising demand for convenience food, popularization of snacking, increased disposable income, and expanding retail industry fuel the growth in the savory snack products market, coupled with remarkable market trends.
What Is The Projected Market Size Of The Global Savory Snack Products Market And Its Growth Rate?
The savory snack products market has shown considerable growth in recent periods and predicts further escalation:
- The market is expected to grow from $127.02 billion in 2024 to $136.58 billion in 2025 at a compound annual growth rate (CAGR) of 7.5%.
- By 2029, the market is projected to reach $183.99 billion, growing at a CAGR of 7.7%.
What Is Driving The Growth In The Savory Snack Products Market?
The consumption of convenience food products has been central to the escalating growth of the savory snack products industry. Ready-to-eat meals, such as those from restaurants or grocery stores exemplify convenience foods that save time. They cater to people with limited time or cooking skills, serving as instant meals. Thus, the adoption of such products amplifies the demand for savory snacks. For instance, in 2022, The Hindu Business Line reported that 79% of Indian households favored instant food due to time constraints. Thus, this inclination towards convenience food products propels the growth of the savory snack products market.
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Who Are the Key Players Driving Savory Snack Products Market Growth?
Several companies play a pivotal role in driving the growth of the savory snack products market:
- 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.
What Are The Key Trends In The Savory Snack Products Market?
Key trends in the savory snack products market include:
- Snack hybrids
- Innovative flavors and textures
- Sustainable and eco-friendly packaging
- Premium and artisanal snacks
- Snacking rituals and occasions
What Are The Segments Of The Global Savory Snack Products Market?
The global savory snack products market is segmented by:
- Product: Potato Chips, Extruded Snacks, Popcorn, Nuts and Seeds, Puffed Snacks, Tortillas, Other Products
- Flavor: Barbeque, Spice, Beef, Roasted or Toasted, Other Flavors
- Distribution Channel: Retailers, Online, Super markets and Hyper markets, Convenience Stores, Other Distribution Channels
Which Region Leads The Savory Snack Products Market?
North America marked the largest region in the savory snack products market in 2024. However, Asia-Pacific has been forecasted as the fastest-growing region for the upcoming periods. Other regions covered in the savory snack products market report include Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Savory Snack Products Market Global Market Report?
Analysis, identification, focus, examination, evaluation, detailing, and iterating competitive developments are key components for effective market understanding. These help in analyzing the Savory Snack Products Market size, identifying segments, focusing on key players, examining individual growth trends, evaluating market contributions, detailing growth influencers, and iterating challenges and risks.
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