Savory snacks are made using staple raw materials such as grains (wheat, rice, maze, rye etc.), fruits, vegetables, pulses, vegetable oils, starch, and flavorings. Savory snacks include wide range of products such as puffed snacks, potato crisps, corn chips, tortillas, crackers, baked snacks, savory biscuits, pretzels, popcorn, meat snacks, peanuts, and other snack nuts. Savory snacks are enjoyed by all age groups and are consumed during various occasions. For instance, in France, it is consumed as an aperitif, while in Germany it is often consumed on social occasions with friends and family. Due to consumer preference towards healthy snacking options, manufacturers are offering wide range of products, which are gluten free, contains natural ingredients and no added preservatives, low or no trans-fat, vegan, and low or no allergens.
Increasing health awareness among consumers is resulting in shifting preference towards healthy snack products. The health benefits offered by nut consumption, as nuts are rich source of vitamins, unsaturated fatty acids, fibers, and minerals, is driving market growth of snack nut products, which in turn is driving growth of the savory snacks market. For instance, according to European Snacks Association, snack nut consumption in Europe increased by 76% between 2009 and 2018. According to the same source, Dutch is the biggest consumer of snack nuts in Europe with consumption of 2.9 kg per capita.
Rapid urbanization, increasing disposable income, and changing lifestyle pattern has led to increasing demand for ready-to-eat or convenience food products across the globe. For instance, according to the Trading Economics Statistics on United States Disposable Personal Income, the disposable personal income in the U.S. averaged US$ 5,200.2 billion in 1959, which increased to US$ 15,742.81 billion in 2018.
Among regions, North America is expected to account for major market share over the forecast period, owing to increasing consumer preference for snack foods over traditional sit-down meals. For instance, according to Agriculture and Agri-Food Canada, the U.S. savory snacks market was valued at US$ 45,661.1 million in 2016 and reached US$ 46,639.3 million in 2017. The U.S. savory snacks market increased at a CAGR of 3.2% between 2013 and 2017.
Among distribution channels, online channel segment is expected to witness highest growth rate in the market over the forecast period. For instance, according to Agriculture and Agri-Food Canada, in 2016, online channel accounted for a value share of 1.1% in the U.S. savory snacks market, which increased to 1.3% in 2017. The share of online channel in the U.S. savory snacks market increased at a CAGR of 16.7% from 2013 to 2017.
Major players operating in the savory snacks market include PepsiCo Inc., Kellogg Company, Kraft Heinz Company, Conagra Brands, Inc., Campbell Soup Company, Calbee Inc., Lorenz Bahlsen Snack-World GmbH & Co KG, Orkla ASA, Mondelez International Inc., and Intersnack Group GmbH & Co. KG.
Key players in the savory snacks market are focusing on new product launches, in order to expand their product portfolio. In 2017, Mondelez International Inc. launched its new savory biscuit brand, Vea. The product contains no artificial ingredients, no trans-fats, and colors or flavors. The product was first launched in the U.S. and Canada targeting millennials.
On the basis of product type, the savory snacks market is segmented into:
On the basis of flavor type, the savory snacks market is segmented into:
On basis of distribution channel, the savory snacks market is segmented into:
On the basis of region, the savory snacks market is segmented into:
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