Savory Snacks

Savory Snacks Market by Product (Extruded Snacks, Meat Snacks, Nuts & Seeds), Flavor (Barbecue, Cheese, Ranch), Packaging Type, Distribution Channel - Global Forecast 2024-2030

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[181 Pages Report] The Savory Snacks Market size was estimated at USD 223.66 billion in 2023 and expected to reach USD 236.81 billion in 2024, at a CAGR 6.24% to reach USD 341.70 billion by 2030.

Savory Snacks Market
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Savory snacks are products made of staple raw materials such as vegetables (potato, carrot), fruit (tree nuts), grains (wheat, maize, rye, and rice), starch, vegetable oils, and seasonings. Savory snacks are salty or savory-flavored food items enjoyed as appetizers or between meals, including potato chips, popcorn, pretzels, nuts, crackers, samosas, spring rolls, nachos, and savory pastries. Increasing urbanization has directly impacted the demand for ready-to-eat and convenience foods such as savory snacks. With consumers spending less time preparing meals due to their busy lifestyles, savory snacks are a quick and easy solution to satisfy hunger cravings. Changing consumer attitudes about snacking due to modern lifestyle practices is another factor that drives market growth. The surge in the use of private label facilities by small savory snack manufacturers reflects the strategic advantages and opportunities for the market. However, adverse impacts on nutrition and health outcomes of savory snacks, including excessive sodium intake, unhealthy fat content, calorie-dense, low-nutrient content, and adverse effects on weight management, are hampering the market's growth. Changing consumer preferences, ingredient sourcing, production limitations, compliance costs, market entry barriers, consumer perception, and international trade considerations may limit the market demand. Moreover, incorporating healthy ingredients in savory snacks drives innovation by addressing consumer demand for healthier options, expanding flavor possibilities, accommodating dietary restrictions, and promoting nutritional value, creating a lucrative market opportunity in the future.

Regional Insights

Europe, the Middle East, and Africa cover the substantial savory snacks market share due to the adoption of advanced manufacturing facilities, exceptional snack options, and significant consumption by younger generations. In Europe, snacks made with whole grains, vegetables, fruits, and plant-based proteins have become more sought after by health-conscious consumers. Moreover, Germany, Spain, Sweden, Austria, and Finland favor vegan-friendly snacks such as hummus chips and vegetable crisps, expanding the market scope. Similarly, the American savory snacks market is expected to witness significant growth prospects in the coming years owing to the presence of potential players, a surging number of innovative products, and substantial consumption. Americans are increasingly looking for healthier snack options such as nuts and seeds, and chickpeas, dry peas, and lentils are also becoming popular in Washington, northern Idaho, and northeastern Oregon. Lastly, in the APAC region, convenience foods such as instant noodles have seen a surge in demand due to increased urbanization and on-the-go consumption trends. Additionally, Asian fusion snacks ranging from Indian samosa pies to Japanese popcorn chicken have gained recognition among consumers of all ages across the region.

Market Dynamics

The market dynamics represent an ever-changing landscape of the Savory Snacks Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

  • Market Drivers
    • Rising consumption owing to modern lifestyle and increasing urbanization
    • Growing number of home-based startups for savory snacks
    • Increase in the number of small savory snack manufacturers using private label facilities
  • Market Restraints
    • Adverse impacts on nutrition and health outcomes of savory snacks
  • Market Opportunities
    • Incorporation of healthy ingredients fueling snack food innovation
    • Emerging novel snacks with attractive and flexible packaging
  • Market Challenges
    • Concern regarding stringent standards and regulations for ingredients and commercialization of savory snacks
Market Disruption Analysis

The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Savory Snacks Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Savory Snacks Market.

Porter’s Five Forces Analysis

The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Savory Snacks Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.

Value Chain & Critical Path Analysis

The value chain of the Savory Snacks Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.

Pricing Analysis

The pricing analysis comprehensively evaluates how a product or service is priced within the Savory Snacks Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Savory Snacks Market.

Technology Analysis

The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Savory Snacks Market.

Patent Analysis

The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Savory Snacks Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.

Trade Analysis

The trade analysis of the Savory Snacks Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.

Regulatory Framework Analysis

The regulatory framework analysis for the Savory Snacks Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Savory Snacks Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Savory Snacks Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments
  • Nature Valley Adds New Level of Flavor with First Savory Snack Option, Nature Valley Savory Nut Crunch Bars.

    Nature Valley introduced their first ever savory snack option, Nature Valley Savory Nut Crunch Bars. With a unique combination of crunchy nuts and bold flavor, these bars provide a delicious and satisfying snack that tantalize taste buds. [Published On: 2023-05-16]

  • Hershey expanding its salty snack supply chain

    The company acquired two popcorn manufacturing plants in Bethlehem and Whitestown, from Weaver Popcorn Manufacturing and allowed Hershey to sustain the growth of SkinnyPop by strengthening its internal supply chain capabilities. This move enabled the company to produce a wider variety of products, increase their presence in the market, and provide customer satisfaction with their top-quality snacks. Hershey’s commitment to making delicious and convenient snacks is evident in this decision and they look forward to continuing to serve customers with their innovative lineup of products. [Published On: 2023-04-17]

  • Jonas Brothers’ Big Bet On Savory Snacks, Rob’s Backstage Popcorn, Raises USD 7 Million From Hollywood A-Listers.

    The Jonas Brothers made a major investment in the savory snack industry. Their company, ‘Rob’s Backstage Popcorn’, raised USD 7 million from some of Hollywood's A-listers. This is proof that savory snacks are still in high demand and an excellent opportunity for those looking to invest. The unique popcorn recipes created by Rob’s Backstage Popcorn revolutionize the way people enjoy savory snacks. [Published On: 2023-03-30]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Savory Snacks Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Savory Snacks Market, highlighting leading vendors and their innovative profiles. These include Amica Chips, Balaji Wafers Pvt. Ltd., Beyond Snacks, Bikano Group, Blue Diamond Growers, Calbee Foods Co., Ltd., Calbee, Inc., Conagra Brands, Inc., Diamond Foods (Kettle Brand), G&S Foods, LLC, General Mills, Inc., Grupo Bimbo, HAPPILO INTERNATIONAL Pvt. Ltd., Herr Foods Inc., HJ Heinz Company Brands LLC, Hormel Foods Corporation, Intersnack Group, ITC Limited, JFC International Inc., Mondelēz International, Nestlé SA, Novel Foods International Ltd., Old Dutch Foods Inc., Orkla ASA, Pepsico, ROB'S BACKSTAGE POPCORN LLC, Snyder's-Lance by Campbell Soup Company, The Hain Celestial Group, Inc., The Hershey Company, The Kellogg Company, The Lorenz Bahlsen Snack-World GmbH & Co KG, The Wonderful Company, Tyrrells Potato Crisps, and UTZ Quality Foods, LLC.

Savory Snacks Market - Global Forecast 2024-2030
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Market Segmentation & Coverage

This research report categorizes the Savory Snacks Market to forecast the revenues and analyze trends in each of the following sub-markets:

  • Product
    • Extruded Snacks
    • Meat Snacks
    • Nuts & Seeds
    • Popcorn
    • Potato Chips
    • Pretzels
    • Tortilla Chips
  • Flavor
    • Barbecue
    • Cheese
    • Ranch
    • Salted
    • Sour Cream & Onion
    • Spicy
    • Tomato
  • Packaging Type
    • Bags
    • Boxes
    • Cans
    • Pouches
  • Distribution Channel
    • Convenience Stores
    • Independent Retailers
    • Online Retail
    • Supermarkets & Hypermarkets

  • Region
    • Americas
      • Argentina
      • Brazil
      • Canada
      • Mexico
      • United States
        • California
        • Florida
        • Illinois
        • New York
        • Ohio
        • Pennsylvania
        • Texas
    • Asia-Pacific
      • Australia
      • China
      • India
      • Indonesia
      • Japan
      • Malaysia
      • Philippines
      • Singapore
      • South Korea
      • Taiwan
      • Thailand
      • Vietnam
    • Europe, Middle East & Africa
      • Denmark
      • Egypt
      • Finland
      • France
      • Germany
      • Israel
      • Italy
      • Netherlands
      • Nigeria
      • Norway
      • Poland
      • Qatar
      • Russia
      • Saudi Arabia
      • South Africa
      • Spain
      • Sweden
      • Switzerland
      • Turkey
      • United Arab Emirates
      • United Kingdom

This research report offers invaluable insights into various crucial aspects of the Savory Snacks Market:

  1. Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
  2. Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
  3. Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
  4. Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
  5. Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.

Additionally, the report addresses key questions to assist stakeholders in making informed decisions:

  1. What is the current market size and projected growth?
  2. Which products, segments, applications, and regions offer promising investment opportunities?
  3. What are the prevailing technology trends and regulatory frameworks?
  4. What is the market share and positioning of the leading vendors?
  5. What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?

Table of Contents
  1. Preface
  2. Research Methodology
  3. Executive Summary
  4. Market Overview
  5. Market Insights
  6. Savory Snacks Market, by Product
  7. Savory Snacks Market, by Flavor
  8. Savory Snacks Market, by Packaging Type
  9. Savory Snacks Market, by Distribution Channel
  10. Americas Savory Snacks Market
  11. Asia-Pacific Savory Snacks Market
  12. Europe, Middle East & Africa Savory Snacks Market
  13. Competitive Landscape
  14. Competitive Portfolio
  15. List of Figures [Total: 24]
  16. List of Tables [Total: 396]
  17. List of Companies Mentioned [Total: 34]
The Power of Health: Fueling Innovation in Savory Snacks
June 29, 2023
BLOG
The Power of Health: Fueling Innovation in Savory Snacks
Snacking has become an essential part of our lives. Be it binge-watching late at night, having quick bites in between meals, or fuss-free snacking while we are working. Over the years, the snack industry has significantly evolved, keeping up with consumers' needs and preferences. The incorporation of healthy ingredients is a game-changer and has been fueling innovation in savory snacks. From the introduction of nutrient-dense grains and legumes to innovative flavor combinations, brands have been constantly trying to find new ways to offer healthier snack options without compromising on taste. This blog post dives deep into the trend of healthy snacking and how it is shaping the savory snack industry.

The shift toward healthier eating habits is visible all around us. More people are willing to invest in nourishing foods that not only fulfill their cravings but also contribute positively to their overall health. This change in mindset has been driving brands to incorporate superfoods, whole grains, and other healthy ingredients in their snacks.

Innovation has always been at the forefront of the snack industry, and the inclusion of nutritious ingredients has opened up many opportunities for brands to come up with innovative products. For instance, chickpeas are being used as the base for snack products such as puffs and chips, replacing corn or potato chips. Similarly, quinoa crisps, lentil chips, and kale chips have hit the market, and these snacks are enjoyed by people as a healthier alternative to traditional potato chips.

Along with incorporating superfoods, brands have been experimenting with new flavor combinations and spices, providing consumers with unique snacking experiences. The use of umami flavoring, for example, has been on the rise, and brands have been able to achieve it by using ingredients such as seaweed, shiitake mushrooms, and parmesan cheese, among others. The fusion of exotic flavors with traditional ones has been another trend that has been gaining popularity. The introduction of flavors like peri-peri, green curry, and habanero in savory snacks has been well-received among consumers.

The snack industry has also been experiencing a surge in plant-based and vegan snacks. Brands have been using plant-based ingredients like nuts, seeds, and fruits to create snacks that are high in protein, fiber, and nutrients. Due to rising awareness regarding animal cruelty and concern for the environment, people have been shifting toward a more plant-based or vegan diet. This has led to the introduction of snacks like roasted chickpeas, vegan jerky, and energy bars that cater to this growing market.

It is no surprise that the trend of healthy snacking is here to stay. The incorporation of nutritious ingredients has revolutionized the snack industry, offering people a healthier alternative to traditional snacking options. The focus on experimentation and innovation has provided consumers with unique and exciting snacking experiences. With the surge in demand for plant-based and vegan options, brands will continue to come up with snacks that are not only delicious but also good for the environment. As consumers become more health-conscious and environmentally-friendly, it is up to brands to actively promote healthy and sustainable snacking habits. The future of the savory snack industry looks bright, and we can expect exciting new products to hit the market soon.

Frequently Asked Questions
  1. How big is the Savory Snacks Market?
    Ans. The Global Savory Snacks Market size was estimated at USD 223.66 billion in 2023 and expected to reach USD 236.81 billion in 2024.
  2. What is the Savory Snacks Market growth?
    Ans. The Global Savory Snacks Market to grow USD 341.70 billion by 2030, at a CAGR of 6.24%
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    Ans. Most reports are fulfilled immediately. In some cases, it could take up to 2 business days.
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