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 2022-2028

Global Savory Snacks Market size was valued at USD 250.5 billion in 2021 and is poised to grow from USD 262.77 billion in 2022 to USD 404.17 billion by 2030, growing at a CAGR of 4.9% in the forecast period (2023-2030).

Potato chips, tacos, savoury biscuits, and other baked snacks that contain salts are examples of savoury snacks. They fit under the convenience food category since they save time.

Millennials are predicted to contribute to the industry's growth during the forecast period due to their expanding hunger for snacks. One important trend that significantly affects the growth of the global savoury snack market is consumers' increasing awareness of the health benefits of consuming salty snacks. Savoury snacks are excellent for those with diabetes and obesity because they are low in calories and gluten-free. Customers opt to spend money on sugar-free, nutritious food items because they are concerned about the food they eat. Since diabetes is becoming a major danger on a global scale, the food and beverage industry is working to develop sugar-free products to combat the disease. The availability of a wide range of flavours and rising consumer disposable income in the Asia Pacific are also anticipated to drive growth in the global savoury snacks market during the forecast period. Additionally, it is projected that in the upcoming years, the global market for savoury snacks would develop in response to the rising demand for potato chips.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Savory snacks Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Segments covered in this report

Savory Snacks Market is segmented based on Type, Flavour, Distribution Channel and Region. Based on Type Savory Snacks Market is segmented into Potato Chips, Corn & Tortilla Chips and others. Based on Flavour savory snacks market is segmented into: Barbeque, Spice, Salty, Plain/Unflavored. Based on Distribution Channel Savory Snacks Market is bifurcated into Hypermarkets & Supermarkets, Online and others. Based on region Savory Snacks Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Driver

Numerous industries, particularly the food processing sector, have been urged to provide food products with exceptional health benefits as customers are now more worried about their health than ever.

To develop new products with a high nutritional value and positive characteristics for health, savoury snack manufacturers invest a lot of money in research and development.

The growing need for on-the-go snacking options among consumers and the expansion of the food and beverage industry are the main drivers of the market for savoury snacks.

The busy schedules and changing lifestyles of the working population, rising consumer awareness of the health risks associated with eating non-organic food, and a rise in the consumption of convenience foods like savoury snacks are all important factors influencing the growth of the savoury snacks market.

Restraint

Over the course of the projected period, the adverse health impacts associated with the primary ingredients in savoury snacks-salt, sugar, vegetable oil, wheat, maize and other flours-as well as chemical additions and preservatives, present a substantial obstacle to market growth. Snacking frequently causes the body to consume excess calories, which can lead to obesity and quick weight gain.

Market Trends

These people like to munch on foods with flavours like jalapeo, black truffle, and mustard. To get the maximum traction with this market, manufacturers are releasing new products in a variety of premium flavours. For instance, Dot's Homestyle Pretzels expanded their product line in May 2021 by adding honey mustard to its lineup.

Due to consumers' growing interest in meat-based snacks as a result of their greater awareness of healthy snacking practises, the market for savoury snacks is developing.

They demand protein in their savoury snack packs for a variety of reasons, including satiety, weight loss, energy, muscle support, healthy ageing, and general nutrition. Lean beef and turkey are two examples of protein-rich snacks that can be incorporated into a normal diet as a result, which enables the market's rivals to provide more meat-based snack options.

A lack of vital nutrients increases the chance of developing chronic and cardiovascular diseases such high blood pressure, cancer, obesity, and diabetes. Snacking has increased among all age groups as a result of consumers' changing eating habits as a result of globalisation and more exposure to different cultures, notably Western lifestyles.