Market Trends of Savory Snacks Industry
Rising Demand for Convenient Snacking Options
Consumers are constantly seeking convenient snacking options that are being upgraded by significant manufacturers operating in the savory snacks market. Convenient snacks, like potato chips, extruded snacks, nuts and seeds, and popcorn, are becoming extremely popular, especially among the working population of the country and the rising young generation consumers due to their hectic lifestyles. The demand for convenient snacks is increasing due to changes in social and economic patterns and increased expenditure on food and beverage.
Because of the increased focus on fitness and physical well-being, health-conscious customers are increasingly gravitating toward healthier snack options, like low-fat savory snacks, indicating great market potential. As per the UN Comtrade, imports of nuts and dried fruits in South Africa increased from USD 2.7 million in 2017 to USD 5.3 million in 2021.
Savory snacking options help the consumers save time on cooking at home, especially in times of minor hunger urges, serve as convenient tiffin options for school/college-going children, and even in between work sessions. Due to the global pandemic, the shift in shopping behavior has seen a positive change in snacking behavior because of the growing in-home consumption.
North America Holds the Major Share
The North American region dominates the global savory snack market as consumers prioritize the portability, convenience, and indulgence offered by savory snacks. Additionally, the snackification trend among the consumers in the region is an all-day habit, with snacking at least once a day among all ages consumers. The Frito-Lay Corporation is a dominant player in the savory snack market in the region. Chips/crisps and tortilla/corn chips are American consumers' two most popular snack selections, with chips/crisps capturing the highest value in sales. Different preparation techniques are expanding the flavor map especially roasted coconut kale chips, oven-roasted sweet potato chips, and a wide variety of roasted nuts, which are increasing the demand for savory snacks in the American market.
Moreover, savory snack manufacturers innovate products without artificial additives and preservatives, with less sodium or salt. They are non-GMO, thus benefiting health-conscious consumers while introducing innovative flavors and health-boosting ingredients to attract North American consumers. Thus, the increasing demand for organic snacks is also opening up newer avenues for savory snack manufacturers in the market studied.
