Dublin, March 08, 2022 (GLOBE NEWSWIRE) -- The "Global Savoury Snack Products Market by Product (Potato Chips, Extruded Snacks, Popcorn, Nuts & Seeds, Puffed Snacks, Tortillas), Flavor (Barbeque, Spice, Salty, Plain/Unflavored), Distribution Channel and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, the global savoury snack products market size is estimated to be valued at USD 203.9 billion in 2022 and is projected to reach USD 263.0 billion by 2027, recording a CAGR of 5.2% during the forecast period in terms of value.
The market is primarily driven by factors such as shifting consumer preference to convenience foods. Moreover, In recent years, the savoury snacks market has been highly impacted by innovations as manufacturers are investing in introducing new ingredients, new variants, and processing techniques to meet the increasing demand and cater to the changing consumer preferences.
By product, potato chips were the largest segment in 2021 and anticipated to grow at a significant growth rate over the forecast period
By product, the potato chips segment is estimated to dominate the market for savoury snacks in terms of value, in 2022. Earlier, potato chips were part of western culture; however, due to globalization, the increase in the consumption of potato chips in emerging economies is anticipated to boost market growth.
By flavour, the plain/unflavoured segment is estimated to grow at the highest CAGR during the forecasted period
By flavour, plain/unflavored is estimated to dominate the savoury snack products market in 2022. Plain and unflavored snacks are becoming consumers' first preference. Furthermore, consumers are looking for products with consumer-friendly ingredients, clean label claims, and locally and ethically sourced ingredients, helping companies manufacture products focusing on health and wellness.
By distribution channel, the retail segment dominates the market in 2021
By distribution channel, the retail segment is estimated to dominate the savoury snack products market by 2022. The online store segment is projected to grow at the significant CAGR in the retail sub-category. With the rise in demand for snack products, there has been an increase in eCommerce retail sales and door-to-door delivery of products, which has contributed to the sales of savoury snack products
Asia Pacific is estimated to be the largest region in 2022 and anticipated a significant growth rate over the forecast period
The Asia Pacific accounted for a significant share in the savoury snack products market in 2021. In the Asia Pacific region, savoury snack products are gaining popularity due to busy lifestyles, urging consumers to opt for on-the-go and RTE products. Furthermore, as the concept of pre-dinner appetizers has been gaining popularity, with a proportionate increase in dual-income families, snacks are becoming an integral part of planned purchase, along with an element of indulgence.
The savoury snack products market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, and RoW (South America, Africa, Turkey, Middle East).
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the savoury Snack Products Market
4.2 Asia-Pacific: savoury Snack Products Market, by Product and Country
4.3 savoury Snack Products Market, by Product
4.4 savoury Snack Products Market, by flavour
4.5 savoury Snack Products Market, by Product and Region
4.6 savoury Snack Products Market, by Distribution Channel
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Shifting Consumer Preference to Convenience Food
5.2.1.2 Changing Work Culture is Promoting savoury Snacks Among Consumers
5.2.1.3 Expansion of the Retail Industry Globally
5.2.2 Restraints
5.2.2.1 Health Issues Associated with Consumption of Snacks Products
5.2.2.2 Growing Inclination of Consumers Toward Low Fat and Low Sodium Products
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Healthy Snacks
5.2.3.2 Growing Ecommerce Penetration in the Developing Countries
5.2.4 Challenges
5.2.4.1 Volatile Price of the Raw Materials
5.2.4.2 Intense Competition from Unorganized Local Players
5.3 COVID-19 Impact on savoury Snack Products Ecosystem
6 Industry Trends
6.1 Introduction
6.2 Value Chain
6.2.1 Raw Material Sourcing
6.2.2 Manufacturing of savoury Snacks
6.2.3 Quality and Safety Controllers
6.2.4 Packaging
6.2.5 Marketing and Distribution
6.2.6 End-Use Industry
6.3 Technology Analysis
6.4 Trade Data: savoury Snack Products Market
6.4.1 Nuts and Other Seeds
6.4.2 Nuts & Other Seeds
6.5 Pricing Analysis: savoury Snack Products Market
6.6 Market Map and Ecosystem savoury Snack Products Market
6.6.1 Demand-Side
6.6.2 Supply-Side
6.7 Trends Impacting Buyers
6.8 Regulatory Framework
6.8.1 North America: Regulatory Framework
6.9 Europe: Regulatory Framework
6.10 Patent Analysis
6.11 Porter's Five Forces Analysis
6.11.1 Degree of Competition
6.11.2 Bargaining Power of Suppliers
6.11.3 Bargaining Power of Buyers
6.11.4 Threat of Substitutes
6.11.5 Threat of New Entrants
6.12 Case Studies
6.12.1 Rising Regulatory Policies for Classic savoury Snack Products
6.12.2 Growing Demand for Healthy savoury Snack Products
7 Savoury Snack Products Market, by Category
7.1 Introduction
7.2 Baked Snacks
7.3 Fried Snacks
7.4 Other Categories
8 Savoury Snack Products Market, by Product
8.1 Introduction
8.2 COVID-19 Impact on the savoury Snack Products Market, by Product
8.2.1 Optimistic Scenario
8.2.2 Realistic Scenario
8.2.3 Pessimistic Scenario
8.3 Potato Chips
8.3.1 Increasing Consumption of Potato Chips is Anticipated to Boom Market Growth
8.4 Extruded Snacks
8.4.1 Growing Preferences for Ready-To-Eat Packaged Food
8.5 Popcorn
8.5.1 Health-Conscious Consumers Focusing on Low-Calorie Count
8.6 Nuts and Seeds
8.6.1 Rising Innovation in Healthy Snack Segment
8.7 Puffed Snacks
8.7.1 Growing Focus of Consumers on Reducing Fat Intake
8.8 Tortillas
8.8.1 Variety of flavours Grabbing Attention of Consumers
8.9 Other Products
8.9.1 Inclination of Health-Conscious Consumers Toward Convenient Food
9 Savoury Snack Products Market, by flavour
9.1 Introduction
9.2 COVID-19 Impact on the savoury Snack Products Market, by flavour
9.2.1 Optimistic Scenario
9.2.2 Realistic Scenario
9.2.3 Pessimistic Scenario
9.3 Barbeque
9.3.1 Innovation in flavours by the Key Manufacturers to Drive the Growth
9.4 Spice
9.4.1 Growing Trend of Spicy flavours
9.5 Salty
9.5.1 Salt a Major Contribution to the flavour
9.6 Plain/Unflavoured
9.6.1 Emerging flavours Impacting Proactive Consumers
9.7 Other flavours
9.7.1 Rising Popularity of Exotic flavours
10 Savoury Snack Products Market, by Distribution Channel
10.1 Introduction
10.2 COVID-19 Impact on the savoury Snack Products Market, by Distribution Channel
10.2.1 Optimistic Scenario
10.2.2 Realistic Scenario
10.2.3 Pessimistic Scenario
10.3 Retail
10.4 Supermarkets & Hypermarkets
10.4.1 Different Brands and Packaging Sizes to Escalate savoury Snack Products Market
10.5 Convenience Stores
10.5.1 Addition of On-Demand Delivery Capabilities Provides Good Business Opportunities for Convenience Stores
10.6 Online Stores
10.6.1 Post-Pandemic Era Presents a Huge Business Opportunity for savoury Snacks Through E-Commerce Sites
10.7 Other Retail Stores
10.7.1 Rapid Globalization Has Paved the Way for Business Opportunities in Smaller Retail Stores
10.8 Foodservices
10.8.1 COVID-19 Pandemic Significantly Impact the Sale of savoury Snacks in the Food Service Channel
11 Savoury Snack Products Market, by Region
12 Competitive Landscape
12.1 Overview
12.2 Market Share Analysis, 2020
12.3 Historical Revenue Analysis of Key Players
12.4 COVID-19-Specific Company Response
12.4.1 Pepsico
12.4.2 Kellogg Co
12.4.3 General Mills Inc.
12.4.4 Calbee
12.4.5 Itc Limited
12.5 Company Evaluation Quadrant
12.5.1 Stars
12.5.2 Pervasive Players
12.5.3 Emerging Leaders
12.5.4 Participants
12.5.5 Product Footprint (Key Players)
12.6 Competitive Scenario
12.6.1 New Product Launches
12.6.2 Deals
12.6.3 Others
13 Company Profiles
13.1 Key Players
13.1.1 Pepsico
13.1.2 Kellogg Co.
13.1.3 General Mills, Inc.
13.1.4 Calbee
13.1.5 Itc Limited
13.1.6 Mondelez International
13.1.7 Nestle Sa
13.1.8 Grupo Bimbo
13.1.9 Hain Celestial
13.1.10 Blue Diamond Growers
13.2 Other Players
13.2.1 Conagra Brands
13.2.2 The Kraft Heinz Company
13.2.3 Mars, Incorporated
13.2.4 Universal Robina Corporation
13.2.5 The Lorenz Bahlsen Snack-World GmbH & Co Kg Germany
13.2.6 Campbell Soup Company
13.2.7 Old Dutch Foods Inc.
13.2.8 Amica Chips S.P.A.
13.2.9 Intersnack Group GmbH & Co.
13.2.10 Tropical Heat
14 Adjacent and Related Markets
15 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/lsgziq
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