Savory Snacks Market is estimated to be US$ 753.6 Billion by 2034 with a CAGR of 10.60% during the forecast period

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Published Date: March 2024

Savory Snacks Market accounted for US$ 301 Billion in 2024 and is estimated to be US$ 753.6 Billion by 2034 and is anticipated to register a CAGR of 10.60%. Savoury snacks are ready-to-eat dishes made from common raw materials such as vegetables, fruits, cereals, vegetable oils, starch, and seasonings. Potato chips, maize chips, puffed and baked snacks, popcorn, savory biscuits, and other nut snacks are among the savory snacks. These savory nibbles are eaten for a variety of reasons, including meal complement and on-the-go snacking.

The report " Global Savory Snacks Market, By Product (Potato Chips, Nuts & Seeds, Extruded Snacks, Popcorn, and Others), By Distribution Channels (Convenience Stores, Supermarkets, Retailers, and Others), and, By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa)- Trends, Analysis and Forecast till 2034’’

Key Highlights:

In July 2021, Griffith Foods has introduced Infuso, a natural, flavored oil that is expected to shake up the snacking industry and help producers in their "search for an amazing snacking experience." Griffith Foods' innovation team has developed a solution that produces powerful, bold flavors that can be used to create multi-flavored savory snack combinations.

Analyst View:

The savory snacks industry is predicted to rise as people become more aware of the need of eating nutritious foods. Over the forecast period, the target market is expected to develop due to an increase in demand for packaged food products. Potato chips are predicted to dominate the savory snacks market over the projection period, accounting for the majority of sales. The development of new products in a variety of flavors to fulfil customer demands for healthy snacks is projected to boost the savory snacks market's growth. Obesity is on the rise, fueling the target market's expansion. The savory snack business is being held back by rising health concerns among consumers and government-imposed food component regulations.

Key Market Insights from the report:

Global Savory Snacks Market accounted for US$ 301 Billion in 2024 and is estimated to be US$ 753.6 Billion by 2034 and is anticipated to register a CAGR of 10.60%.Global Savory Snacks is segmented into product, distribution channel and region.

Based on Product, the Global Savory Snacks Market is segmented into Potato Chips, Nuts & Seeds, Extruded Snacks, Popcorn, and Others.
Based on Distribution Channel, the Global Savory Snacks Market is segmented into Convenience Stores, Supermarkets, Retailers, and Others.
By Region, the Global Savory Snacks Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Savory Snacks Market:

The key players in the Savory Snacks Market includes Kraft Foods, Conagra, Brands, Inc., PepsiCo, Inc., Calbee Foods Co Ltd., Intersnack Gmbh & Co, Mondelez International Inc., Blue Diamond Growers, General Mills Inc., Lamb Weston Holdings, Inc. Further, R&D and improvement in the production process by the manufacturers lead to support the global savory snacks market growth.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period

Market Purview

Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
  - Drivers
  - Restraints
  - Market Opportunities
  - Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Estimation
- Top-Down Approach
  - Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
  - Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions