Savory Snack Market

Savory Snack Market Size Survey Report – In a Glance

As per the survey report on global savoury snack market, the market is projected to foresee a CAGR of 4.9% between 2024-2033, and further generate a market size of USD 135.5 billion by the end of 2033. In the year 2023, the market size was valued at USD 129.3 billion.

• The global savory snack market is projected to grow on account of the rising consumer preference towards healthy snacking options.
• In Japan, the savory snack market growth can be attributed to the rising demand for organic snacking.
• KDMI analyst’s growth analysis foresees, balancing health to challenge the market growth.
• North America, having the highest market share in savory snack market, is projected to dominate the global market.

Savoury Snack Market Analysis

A savoury snack is a type of food that is prepared from vegetable oil, fruits, pulses, and staple raw materials. Delicious food items are available in various flavors, such as spicy, sweet, and salty, and they include a wide range of products, such as chips, nuts, crackers, popcorn, etc. Potato chips hold the largest segment in this market. The rising consumer preference towards healthy snacking options has driven the growth of the savoury snack market by offering food items that are gluten-free, have no added preservatives, and have natural ingredients. The 2023 prevalence of food insecurity was statistically significantly higher than the 12.8 per cent (17.0 million) in 2022. The growing prevalence of food insecurity bodes well for the demand growth eventually impacting the savory market size. PepsiCo, The Kraft Heinz Company, and Kellogg Company are some of the significant manufacturers in the market for fire control systems.

Analyst’s Observation on Japan Savoury Snack Market Survey

In Japan, the rising demand for organic snacking is a major factor driving the growth of the savoury snack market. As the country has a large number of ageing population and an increasing prevalence of disease, people are seeking foods that have organic ingredients and are chemical-free. Japan’s 2021 market for plant-based protein ingredients, including traditionally consumed tofu and soymilk, was valued at approximately USD 323 million, a 14.2 per cent increase compared to 2019. Industry estimates for the plant-based meat alternative market size will be USD 29 million in 2025, up from approximately USD 18 million in 2022. The increasing preference towards plant-based meat substitutes predicts the growth of the savory snack market size. Calbee, Meiji, and Glico are some of the significant manufacturers of the Japanese savoury snacks market.

Savoury Snack Market Growth Drivers and Challenges

Growth Drivers

Hectic lifestyle demands for convenient snacking

The hectic lifestyle demands convenient snacking and has significantly driven the growth of the savoury snack market. This industry offers ready-to-eat snack solutions for individuals and families, who have limited time to prepare food during their working hours. Due to increasing working hours and busy schedules, people seek ready-to-eat options, which take less time to cook. Approximately 20 per cent have less time to cook and rely more on frozen food. 18 per cent responded that telework increased home eating and food usage. Demand is high for convenient snack options that are both nutritious and easy to carry, including portion bars, nut mixes, and fruit products made with natural ingredients·

Rising demand for clean label products

Rising demand for clean-label products has driven the growth of the savoury snack market. Consumers are shifting towards healthy eating and want to know the ingredients in the food they are consuming. The clean label approach, which avoids chemicals, preservatives, and artificial colour, is increasingly favoured by health-conscious consumers who prefer natural and organic options. Notably, 46% of Americans say that the availability of food ingredients expressed in a simple way, can directly affect their purchasing decisions and that they are willing to pay more for these foods. Therefore, the market size of “clean label” ingredients food is likely to grow substantially; it is expected to reach approximately USD 47.5 billion by 2023, registering a CAGR of 6.8% during the forecast period.

Challenges

Balancing health

Consumer demand for healthy and tasty snacks for munching is a challenge for the companies to offer both together. Consumers want flavours & satisfaction and don’t want to compromise. Companies find it difficult to balance both and provide innovative food items to consumers. They seek organic ingredients and new food technologies to maintain the texture and taste of the food.

High competition

High competition is a significant challenge for the savoury snack market. There are many companies that offer similar products, which can lead to high costs and a need for innovation. Companies must differentiate themselves by offering quince flavours & healthier options.

Savory Snack Market Segmentation

Our experts at KD Market Insights have segmented the global savory snack market research report as:

Savory Snack Market Regional Synopsis

North America has the highest share of the savoury snack market, significantly driven by the increasing demand for plant-based food. People are shifting toward plant-based and vegan products for healthier lifestyles. This vegan trend has led snack manufacturers to introduce new food options made with ingredients, such as chickpeas, peas, tofu, and nutrition yeast, which are rich in protein and fibre. More than 500,000 participants signed up for Veganuary’s 2021 Challenge 2, a 25% increase from 2020. In 2020, Veganuary had more than 400,000 participants. Vegan and plant-based products appeal to health-conscious consumers and those who believe in sustainability. The popularity of plant-based product snacks is rapidly growing in the market.

Asia-Pacific is the fastest-growing region for the savoury snack market, driven by the increasing health awareness among people. Snacks with protein and nutrition are a significant concern for people because of the ageing population around the region. People prefer food with low-fat, low-calorie, low-sugar, and natural ingredients. The rising health awareness among youngsters and the urban population is boosting the savoury snack market. The global gender gap in food insecurity decreased from 3.8 to 2.4 percentage points between 2021 and 2022.

Europe is the second-largest region for the savoury snack market, driven by the increase in product innovation. The European population is increasingly looking for new, exciting flavours and healthier snack options. As a result, companies are introducing snacks with unique ingredients such as plant-based, gluten-free, and high-protein and experimenting with regular flavours.

As per our analysts at KD Market Insights, the following five manufactures lead North America, having the highest market share savory snack.

• SavoryBites
• SanckCraft
• CrunchMaters
• FlavorFusion Snacks
• CraveCrunch

Savory Snack Market Competitive Landscape

Some of the key players who top the global savory snack market share:

• PepsiCo
• Diamond Foods LLC
• CALBEE Inc.
• JACK Link’s LLC.
• Orkla ASA
• Conagra Brands Inc.
• Intersnack Group GmbH & Co. KG
• Kellogg Co.
• Mondelez International
• Hain Celestial Group
• Nestle SA

Savory Snack Market Recent Developments

Nestlé is expanding its cold coffee offering with the launch of Blue Bottle Coffee's New Orleans (NOLA) Craft Instant Coffee Blend. This is the latest addition to Blue Bottle's New Orleans-Style Iced Coffee offerings, leveraging Nestlé's soluble coffee expertise.

PepsiCo, a proud partner of the UEFA Champions League (UCL) since 2015, announced the extension of its strategic partnership for another three years, until June 2027, pepsiCo is the first sponsor to renew the UCL collaboration and comes at a pivotal time as the competition format changes and the number of participating clubs increase, providing fans new ways to enjoy iconic PepsiCo brands.

1. Executive Summary
   1. Market Overview
   2. Key Findings
   3. Market Trends
   4. Market Outlook
2. Introduction
   1. Scope of the Report
   2. Research Methodology
   3. Definitions and Assumptions
   4. Acronyms and Abbreviations
3. Market Dynamics
   1. Drivers
   2. Restraints
   3. Opportunities
   4. Challenges
4. Global Savory Snack Market
   1. Market Overview
   2. Market Size and Forecast
   3. Market Segmentation
      1. By Product Type
      2. By Distribution Channel
      3. By Region
5. Market Segmentation by Parent Segment 1
   1. 1. 1. Potato Chips
         2. Extruded Snacks
         3. Nuts and Seeds
         4. Popcorn
         5.  Meat Snacks
         6. Others
6. Market Segmentation by Parent Segment 2
   1. 1. 1. Hypermarkets/Supermarkets
         2. Specialty Stores
         3. Online Store Convenience Stores
         4.  Other
7. Regional Analysis
   1. North America
      1. United States
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      2. Canada
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      3. Mexico
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
   2. Europe
      1. United Kingdom
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      2. Germany
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      3. France
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      4. Italy
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      5. Spain
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      6. Rest of Europe
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
   3. Asia Pacific
      1. China
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      2. Japan
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      3. India
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      4. Australia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      5. South Korea
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      6. Rest of Asia Pacific
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
   4. Latin America
      1. Brazil
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      2. Argentina
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      3. Colombia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      4. Rest of Latin America
         1. Market Size and Forecast
         2. Key Trends and Developments
         3.               Market Analysis by Product Type and Distribution Channel
   5. Middle East & Africa
      1. South Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      2. Saudi Arabia
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      3. UAE
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
      4. Rest of Middle East & Africa
         1. Market Size and Forecast
         2. Key Trends and Developments
         3. Market Analysis by Product Type and Distribution Channel
8. Competitive Landscape
   1. Market Share Analysis
   2. Company Profiles
      1. 1. PepsiCo
         2. Diamond Foods LLC
         3. CALBEE Inc.
         4. JACK Link’s LLC.
         5. Orkla ASA
         6. Conagra Brands Inc.
         7. Intersnack Group GmbH & Co. KG
         8. Kellogg Co.
         9. Mondelez International
         10. Hain Celestial Group
         11. Nestle SA
         12. Other
9. Strategic Recommendations
10. Appendix
    1. List of Tables
    2. List of Figures
11. References