Savory Snacks Market Expects to Reach a Value of US$ 168.0 Billion by 2027 | CAGR of 5.27% – EIN News

Savory Snacks Market Expects to Reach a Value of US$ 168.0 Billion by 2027 | CAGR of 5.27% - EIN News


Savory Snacks Market Analysis Report 2022-2027: Industry Overview, Top Companies Revenue, Share, Size, Growth and Forecast

SHERIDAN, WYOMING, UNITED STATES, August 29, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled “Savory Snacks Market Analysis: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global savory snacks market size reached a value of US$ 122.9 Billion in 2021. Savory snacks refer to those foods that have a salty or spicy flavor as opposed to being sweet. They are usually eaten in small quantities between meals, and are considered to be light and convenient food options. In many cases, these snacks can also serve as meal substitutes. They utilized a variety of ingredients, such as vegetables, fruits, nuts, grains, vegetable oils and seasonings, for their preparation. As a result, they are a rich source of nutrients, including minerals, vitamins and fibers. In addition, these snack foods are highly cost effective and easily accessible via online and offline organized retail channels. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 168.0 Billion by 2027, exhibiting a CAGR of 5.27% during 2022-2027.

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Global Savory Snacks Market Trends:

The global market is primarily driven by the shifting dietary preferences of the masses who are adopting on-the-go convenience foods as a substitute for main meals. This can be attributed to the increasingly hectic lifestyles and busy schedules of individuals due to rapid urbanization. Additionally, continual product innovations, such as the launch of a diversified product range by the key players to cater to the consumer demands in terms of flavor preferences and dietary needs, are propelling the market. In addition to this, the rising awareness for healthy snacking habits resulting in higher adoption of high-protein, low-fat, gluten-free, organic, and protein-rich snack variants is also augmenting the market demand. Furthermore, extensive research and development (R&D) activities focusing on the improvement in the production process and product quality is creating a positive market outlook. Some of the other factors providing an impetus to the market include the flourishing food and beverage industry, inflating disposable income levels, and aggressive marketing campaigns adopted by key players, along with convenient and attractive product packaging.

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Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Arca Continental, S. A. B. de C. V., Calbee, Inc., Conagra Brands, Inc., General Mills Inc., Hain Celestial Group, Inc., Haldiram Foods International Pvt. Ltd, Intersnack Group, ITC Limited, Kellogg Company, Kraft Heinz Company, Lamb Weston Holdings, Inc, Premium Brands Holdings Corporation, and PepsiCo, Inc.

Breakup by Product:

• Potato Chips
• Extruded Snacks
• Nuts and Seeds
Popcorn
Meat Snacks
• Others

Breakup by Category:

• Baked
• Fried
• Others

Breakup by Distribution Channel:

• Supermarkets/Hypermarkets
• Specialty Stores
• Online Stores
• Convenience Stores
• Others

Breakup by Sales:

• Retail Sector
• Foodservice Sector

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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Who we are:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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