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Global Savory Snacks Market (Size of
$111 billion in 2014) to Witness 7%
CAGR during 2015 -2020

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Savory Snacks Market

Global Industry Insight: Savory Snacks Market
Development and Demand Forecast to 2020
Explore detailed TOC and Scope of the report:
https://www.psmarketresearch.com/market-analysis/savory-snacks-market

The global savory snacks market was valued at $111.1 billion in 2014. The market is
expected to grow at a CAGR of 7.1% during 2015 to 2020, to reach $166.6 billion by
2020. The global savory snacks market is being driven by the rising urbanization,
increasing per capita income (especially in developing countries), and changing food
culture. The high growth of savory snacks market in Asia-Pacific region is mainly
coming from the increasing demand from China and India, as they constitute large
part of the global and regional population. The healthier alternatives to savory
snacks, such as bakery products, fresh fruits, and juices, are hindering the savory
snacks market growth; which is compelling companies to offer healthier snacking
options. The demand for small pack sizes have been increasing considerably in
certain countries, such as India and Mexico, due to increasing consumption from
lower income groups and demographic changes.

Savory Snacks Market

People are demanding varieties in snacks, which is encouraging companies to
launch new products. Several companies have been announcing the launch of
products with new tastes, flavours, and shapes to maintain their
competitiveness in the market. Moreover, customers’ increasing inclination
towards organic foods is compelling the savory snack companies to innovate
their products for customer retention.
The global savory snacks market has been segmented as potato chips,
processed snacks, popcorn, nuts and others. The processed snacks accounted
for the largest share, with market size of $41,572.3 million in 2014, in global
savory snacks market and it is expected to grow at a CAGR of 6.5% during 2015
– 2020. And based on
Earlier, snacks were considered as a break time light food. However, in the
recent times people have been increasingly eating them between the meals.
Snacks are being considered as fourth meal of the day in U.S. Americans are
forerunners amongst the snack eaters between the meals as they love to snack
everywhere from theater, to workplace, to car, and even on the subway. A
similar culture exists in Brazil, where snack is a part of breakfast.

Savory Snacks Market

Globally, the Indian savory snacks market is expected to witness highest growth,
16.6% during the period 2015 – 2020, among all the countries. The U.K. is the
forerunner in snack consumption across Europe. According to a food research
company, the U.K. people snack 825 times a year as compared to the 807 times of
the European consumers’ average. People in the age group 6years to 24 years are
the largest savory snack consumers in U.K. The U.K. leads the savory snacks market
in Europe; however, it is not the largest consumer in terms of per capita
consumption. Countries such as Netherlands, Norway and Spain have a greater per
capita consumption of savory snacks as compared to their British counterparts.
According to European Snacks Association (ESA), the average annual per capita
savory snacks consumption in Europe is about 3.6 kilogram.
The increasing numbers of supermarkets and hypermarkets coupled with growing
per capita income is encouraging people for bulk buying of savory snacks, which is
mostly offered by the large scale retail. Convenience stores are another format
which is growing at global level due to peoples’ growing demand for convenience.
The global savory snacks market has a fragmented structure with a large number of
companies operating in the market. Some of the major companies include PepsiCo.,
Kraft Foods, ConAgra Foods, CALBEE, Diamond Foods, General Mills, Intersnack
Group GmbH, Lorenz Bahlsen, Kellogg company, and Orkla ASA.

Savory Snacks Market

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