Market Size of Savory Snacks Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 238.81 Billion |
| Market Size (2029) | USD 319.98 Billion |
| CAGR (2024 - 2029) | 6.03 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Savory Snacks Market Analysis
The Savory Snacks Market size is estimated at USD 238.81 billion in 2024, and is expected to reach USD 319.98 billion by 2029, growing at a CAGR of 6.03% during the forecast period (2024-2029).
The demand for organic snacking options is increasing due to the gaining health consciousness among consumers and the developing health issues resulting from hectic lifestyles. This changing trend has led savory snack manufacturers to develop snacking products containing fiber, energy, and proteins. Also, there is increasing consumer demand for nutritious products with limited ingredients or claims, like clean labels. Consumers are increasingly paying attention to the composition of food products and how this information is communicated on the packaging. Clean label responds to the growing consumer demand for information and transparency. This has fueled the market growth for healthy savory snacks, including roasted and lightly spiced nuts and seeds.
Moreover, the on-the-go snacking concept is linked to easy consumption and is relatively easier to handle, which savory snacks, like popcorn and potato chips, offer. Also, popcorn, nuts and seeds, and extruded snacks can help prevent people from getting too hungry for junk foods, as these serve as ideal eatables in between breaks or whenever people do not have time to cook.
Savory Snacks Industry Segmentation
Savory snacks are small servings of food with a salty or spicy flavor rather than a sweet one. The global savory snacks market is segmented by product type, distribution channel, and geography. Based on the product type, the market is segmented into potato chips, extruded snacks, nuts & seeds, popcorn, meat snacks, and others. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialist retailers, convenience stores, online channels, and others. Based on geography, the market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The report offers market size and forecasts in value (USD million) for the above segments.
| Type | |
| Potato Chips | |
| Extruded Snacks | |
| Nuts and Seeds | |
| Popcorn | |
| Meat Snacks | |
| Others |
| Distribution Channel | |
| Hypermarkets/Supermarkets | |
| Specialty Stores | |
| Online Store | |
| Convenience Stores | |
| Other Distribution Channels |
| Geography | |||||||||
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Savory Snacks Market Size Summary
The global savory snacks market is experiencing a notable expansion, driven by evolving consumer preferences and lifestyle changes. As health consciousness rises, there is a growing demand for organic and nutritious snacking options, prompting manufacturers to innovate products that are high in fiber, energy, and proteins. The trend towards clean labels, which emphasize transparency and simplicity in ingredient lists, is gaining traction among consumers who are increasingly scrutinizing food compositions. This shift is particularly evident in the popularity of healthier savory snacks such as roasted and lightly spiced nuts and seeds. The convenience of on-the-go snacking, offered by products like popcorn and potato chips, aligns with the busy lifestyles of consumers, making these snacks ideal for quick consumption during breaks or as meal substitutes. The market is further bolstered by the rising demand for low-fat savory snacks, reflecting a broader focus on fitness and well-being.
North America stands out as a dominant region in the savory snacks market, with consumers favoring the portability and indulgence these snacks provide. The snackification trend, where snacking becomes a regular part of daily meals, is prevalent across all age groups in this region. Key players like Frito-Lay Corporation are capitalizing on this trend by offering a variety of flavors and innovative products that cater to health-conscious consumers, such as those without artificial additives or preservatives. The competitive landscape is marked by strategic product launches and expansions, with major companies like General Mills Inc., PepsiCo, Inc., and The Kelloggs Company actively seeking to enhance their market presence through mergers and acquisitions. These strategies are crucial for maintaining a competitive edge in a rapidly evolving market, as evidenced by recent product introductions and flavor innovations.
Savory Snacks Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Potato Chips
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2.1.2 Extruded Snacks
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2.1.3 Nuts and Seeds
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2.1.4 Popcorn
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2.1.5 Meat Snacks
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2.1.6 Others
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2.2 Distribution Channel
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2.2.1 Hypermarkets/Supermarkets
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2.2.2 Specialty Stores
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2.2.3 Online Store
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2.2.4 Convenience Stores
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2.2.5 Other Distribution Channels
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 Spain
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2.3.2.4 France
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2.3.2.5 Italy
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2.3.2.6 Russia
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 United Arab Emirates
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Savory Snacks Market Size FAQs
How big is the Savory Snacks Market?
The Savory Snacks Market size is expected to reach USD 238.81 billion in 2024 and grow at a CAGR of 6.03% to reach USD 319.98 billion by 2029.
What is the current Savory Snacks Market size?
In 2024, the Savory Snacks Market size is expected to reach USD 238.81 billion.
