Press release
Savory Snacks Market Growth Fueled by Changing Consumer Preferences
Savory Snacks Market
The global savory snacks market is experiencing robust growth, driven by evolving consumer preferences and increased demand for convenient food options. Valued at USD 277.23 billion in 2023, the market is anticipated to reach nearly USD 395.32 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.2% during the forecast period.
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Competitive Landscape and Regional Demand
The savory snacks industry is characterized by intense competition, with key players such as PepsiCo Inc., Kellogg Company, Kraft Heinz Company, Conagra Brands, Inc., and Mondelez International Inc. striving to expand their market share. These companies are innovating their product lines to cater to health-conscious consumers seeking nutritious and convenient snack options. Notably, regions like the United States and Asia Pacific have witnessed higher demand for savory snacks, attributed to busy lifestyles and a growing emphasis on healthy eating.
United States: Growth and Consolidation
The U.S. savory snacks market is experiencing steady growth, driven by consumers' hectic work schedules and a preference for ready-to-eat snack options. In a significant development, Mars, the maker of Snickers, announced a $35.9 billion acquisition of Kellanova, the successor of Kellogg, in August 2024. This deal adds popular brands like Pringles and Cheez-It to Mars's portfolio, marking the largest acquisition in the company's history.
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Asia Pacific: Opportunities and Expansion
The Asia Pacific region presents substantial growth opportunities for the savory snacks market, driven by urbanization, increasing disposable incomes, and a shift towards convenient food solutions. In March 2025, Singapore's state investment company, Temasek, secured a near 10% stake in India's Haldiram's for about $1 billion, valuing the company at approximately $10 billion. This strategic investment aligns with Temasek's strategy to expand in India's consumer sector.
Europe: Trends and Market Dynamics
European consumers are increasingly adopting savory snacks, influenced by a desire for convenient and healthy food options. Companies like Mondelez International Inc. have adapted their business models to focus on profitability, including measures such as new product launches and strategic acquisitions. These trends highlight the industry's efforts to balance growth with sustainable operations.
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Middle East and Africa: Emerging Markets
The savory snacks market in the Middle East and Africa is in its nascent stages but holds potential for growth. As urbanization and internet penetration increase, consumers in these regions are showing interest in convenient snack solutions. While specific mergers and acquisitions are not prominent, the market is expected to evolve with the entry of new players and strategic partnerships in the coming years.
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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
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