Global Savory Snacks Market

Global Savory Snacks Market Size, Share, Growth Analysis, By Type(Potato Chips, Corn & Tortilla Chips), By Flavour(Barbeque, Spice), By Distribution Channel(Hypermarkets & Supermarkets, Online) - Industry Forecast 2024-2031

Report ID: SQSG30I2065 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 91 | Figures: 76

Global Savory Snacks Market News

  • In August 2022, the National Confectioners Association (NCA) recently recognised Pecan Nation (thepecannation.com), which pioneered the introduction of farm-fresh pecans into the $5.1 billion snacking nut market, with the 2022 Most Innovative New Product Award for their Cinnamon Roasted Pecans.
  • In August 2022, to expand its selection of snacks, PepsiCo entered the market for premium potato chips. The slow-cooked premium kettle chip sector, sold under the Lay's Gourmet brand, is positioned in the nation's quickly expanding premium snack market.
  • In August 2022, according to a press release from the company, Doritos is introducing a brand-new Tangy Tamarind flavour. This is a bold first for not only Doritos but for all major snack chip manufacturers as it represents the first time tamarind is used as a flavour by a major salty snack brand in the United States.
  • In July 2022, an undisclosed seed round of funding has been secured by a brand of Earth Crust Pvt. Ltd. that produces healthy snacks for Indians. Venture Catalysts is India's first and largest integrated incubator and accelerator.
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Global Savory Snacks Market size was valued at USD 250.5 billion in 2019 and is poised to grow from USD 262.77 billion in 2023 to USD 404.17 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).

The existence of several international players defines the global market. To increase their market share, businesses use a variety of techniques, including partnerships, agreements, regional growth, mergers, acquisitions, and new product creation. In our Savory Snacks market reports, some of the leading quality Savory Snacks manufacturers are as follows: PepsiCo (US), Kellogg Co. (US), General Mills Inc. (US), Calbee (Japan), ITC LIMITED (India), Mondelez International (US), Nestle SA (Switzerland), Grupo Bimbo (Mexico), Hain Celestial (US), Blue Diamond Growers (US), Conagra Brands (US), The Kraft Heinz Company (US), Mars, Incorporated (US), Universal Robina Corporation (Philippines), The Lorenz Bahlsen Snack-World GmbH & Co KG Germany (Germany), Campbell Soup Company (US). 'PepsiCo', 'Nestle SA', 'The Kellogg Company', 'General Mills, Inc.', 'Mondelez International, Inc.', 'Calbee, Inc.', 'The Kraft Heinz Company', 'Conagra Brands, Inc.', 'The Hershey Company', 'McCain Foods Limited', 'Blue Diamond Growers', 'Amplify Snack Brands, Inc.', 'Intersnack Group GmbH & Co. KG', 'ITC Limited', 'Arca Continental, S.A.B. de C.V.', 'Grupo Bimbo S.A.B. de C.V.', 'PepsiCo Foods Canada Inc.', 'Snyders-Lance, Inc.', 'Lorenz Bahlsen Snack-World GmbH & Co KG', 'Greencore Group plc'

As consumers are more concerned about their health than ever, numerous sectors, particularly the food processing industry, have been encouraged to manufacture food products with outstanding health benefits.

Jalapeno, black truffle, and mustard are a few of the flavours that are popular in snacks among this group. Manufacturers are introducing new products in a range of premium flavours to garner the most traction with this market. For instance, Dot's Homestyle Pretzels added honey mustard to its lineup in May 2021, expanding its product line.

In terms of revenue, Asia Pacific accounted for the highest regional share of the savory snacks market. Due to growing worries about childhood obesity, consumers in nations like India, Japan, and China have begun to embrace healthier lives, which is what is driving the expansion in the Asia-Pacific region. Better-for-you snacks are becoming more widely available, and markets like popcorn, whose sales have grown significantly, are satisfying local consumers' desires. Following Canada, the United States is expected to make a considerable contribution to the industry's expansion in this area.

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