Summary

The global savory snacks market is projected to register a CAGR of 4.77% during the forecast period (2022 - 2027).

The COVID-19 pandemic-induced lockdown across the globe resulted in several bottlenecks across the value chain in the industry. Additionally, consumers spending more time working and studying from home, increased their consumption of savory snacks, thus, boosting the demand across the globe. With rising demand and the inability of the brick and mortar stores to fulfill it, consumers shifted their buying preference to online stores. As a result, the savory snack manufacturers capitalized on such opportunities to optimize their operations and product availability in stores to cater to the growing demand.

The savory snacks market is driven by increasing demand for convenient food products with an on-the-go trend for snacking which is low in sugar, and high in protein. Also, manufacturers in the market have been offering innovative and diverse product ranges in terms of new flavor profiles, ingredients, shapes, and packaging to gain consumers.

However, the market faces challenges as consumer preference for healthy snacks is increasing i.e., reduced fat and sodium content. Also, the high acrylamide content has become a major concern for manufacturers, as consumers demand transparency about the ingredients used and label claims.

Scope of the Report

Savory snacks are snack food products which has a salty or spicy flavour. The global savory snacks market is segmented by product type into potato chips, extruded snacks, nuts & seeds, popcorn, meat snacks, and others. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialist retailers, convenience stores, online channels, and others. It also provides an analysis of the savory snack market in the emerging and established geographical regions by covering regions, such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. For each segment, the market sizing and forecasts have been done on the basis of the value (in USD million).

By Type
		Potato Chips
		Extruded Snacks
		Nuts and Seeds
		Popcorn
		Meat Snacks
		Others

By Distribution Channel
		Hypermarkets/Supermarkets
		Specialty Stores
		Online Store
		Convenience Stores
		Other Distribution Channels

Geography
		North America United States Canada Mexico Rest of North America
		Europe United Kingdom Germany Spain France Italy Russia Rest of Europe
		Asia-Pacific China Japan India Australia Rest of Asia-Pacific
		South America Brazil Argentina Rest of South America
		Middle East & Africa United Arab Emirates South Africa Rest of Middle East & Africa

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Key Market Trends

Growing Popularity for Meat-based Snacks

With the growing consumer awareness regarding healthy snacking habits, consumers are looking for meat-based snacks which is boosting the savory snack market. They demand protein in their savory snack packs for a variety of factors including satiety, weight loss, energy, muscle support, healthy aging, and general nutrition. This makes way for the inclusion of protein-rich snacks, such as lean beef or turkey, in a regular diet, which, in turn, enables the players in the market to come up with more meat-based snack options. Traditionally, meat snacks typically rest on shelves of convenience stores, but as more consumers demand healthier and leaner snacks, they are occupying larger shelf space of different retail store formats. Increasing market penetration and growing consumer demand for meat snacks are expected to drive the overall demand for savory snacks. Also, meat snack comes in different flavor such as teriyaki, spicy, smoked, and hickory which gives consumers a variety of choices.

Major Players

ConAgra Brands Inc.

General Mills Inc.

ITC Limited

The Kelloggs Company

PepsiCo Inc.

Region

Global