Market Research Report
Global Savoury Snacks Market -2019-2026
|Published by||DataM Intelligence||Product code||906027|
|Published||Content info||130-180 Pages
Delivery time: 1-2 business days
|Global Savoury Snacks Market -2019-2026|
|Published: August 1, 2019||Content info: 130-180 Pages||
The Global Savoury Snacks Market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
Savoury snacks are made from raw materials such as vegetables (potato, carrot etc.), fruit, grains (such as wheat, maize, rye, and rice), starch, vegetable oils and seasonings. These are consumed in small quantity and don't lead to much of fats. Savoury snacks includes variety of products including potato crisps, corn chips/ tortillas, puffed and baked snacks, crackers, pretzels, savoury biscuits, popcorn, meat snacks, peanuts and other snack nuts.
The global Savoury Snacks Market is primarily driven by busy lifestyles and increased consumption of convenient food products like Savoury Snacks which are readily available in nearby store, by young people all around the world. Increase in the number of multiplexes and Video on demand services in the developing countries like India, China and Others along with the snacking habits of people while watching movies and series is increasing all around the world, which will be driving the market during the forecast period.
In 2018, India's media and entertainment sector, multiplexes have grown at a steady rate of over 10 per cent over the last years. For instance, PVR has 625 screens in 134 properties across India, including 155 screens in 23 properties in South India. The company expects to add 90 screens in the current financial year.
Rising health awareness and the consumption of healthy snacks like popcorn which quite healthy as it contains various proteins, antioxidants, polyphenolic compounds, fiber, and vitamin B complex making it the best snack for the people and hence this is driving the market for the Savoury Snacks all around the world for the forecast period. The nutrient content of a 100-gram (3.5-oz) serving of air-popped popcorn: Vitamin B1 (Thiamin): 7% of the RDI (Reference Daily Intake), Vitamin B3 (Niacin): 12% of the RDI, Vitamin B6 (Pyridoxine): 8% of the RDI, Iron: 18% of the RDI, Magnesium: 36% of the RDI, Phosphorus: 36% of the RDI, Potassium: 9% of the RDI, Zinc: 21% of the RDI, Copper: 13% of the RDI, and Manganese: 56% of the RDI.
However, due to several regulations of the government pertaining to labelling and packaging of the food product is hampering the growth of Savoury Snacks.
By Product type, the global Savoury Snacks Market is segmented into Potato Chips, Extruded Snacks, Nuts & Seeds, Popcorn, Meat Snacks, and Others. Potato chips has the dominant position in the Savoury Snacks market and is expected to retain its dominance in the forecasted period. However, people constantly looking out for change in the taste with healthy snack is opening the market for the popcorn and is gaining popularity among all age group due to its healthy content and popcorn market will increase with rapid rate in the forecast period. It is expected that Potato chips market will grow at a CAGR of ~XX% during the forecast period.
By Distribution Channel, the global Savoury Snacks market is segmented into Online distribution channel and Offline distribution channel. Offline distribution channel has the dominant position in the Savoury Snacks market due to the rising supermarkets and hypermarket giving excess to these ready to eat products to the consumers easily all around the world.
By geography, the global Savoury Snacks Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
North America holds the largest market share for Savoury Snacks due to the high demand of various favored Savoury Snacks by the people in the region and also savory snack being conveniently available in the nearby retail store.
In North America, retailing industry has grown over the last few years, showing a direct link to economic recovery and a return to retailer expansion. There has been increased activity in Canada recently, driven by US brands such as Saks, Target and Nordstrom establishing bases there. Though around 90 percent of sales are currently made in store, technology is playing a greater supporting role.
Asia-Pacific is after North America in terms of market share of Savoury Snacks due to increase in youth population and rise in the supermarket and hypermarket culture along with increase in disposable income of people in the region will be the major drivers for the APAC region and will drive the market with higher rate during the forecast period.
For Instance, over 60% of the world's youth live in Asia-Pacific. This translates into more than 750 million young women and men aged 15 to 24 years.
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Savoury Snacks is a competitive market with the presence of various global and regional players in the market. The major players include Foods PepsiCo Inc., Kraft Foods, ConAgra Foods, CALBEE, and Diamond. Other key players in the market include General Mills, Arca Continental, ITC, Kellogg Company, Universal Robina.
In April 2019, Kettle Chips has launched a range of chips in UK and will be distributed by D&D Snacks, Suma, and Hyder. And these will also be placed in stores of Sainsburys and Tesco initially.
In August 2018, Indian popcorn start-up Timla Foods raises $2 Million from Anicut Capital, an investment firm with a focus of small and medium enterprises (SMEs) for countrywide expansion.