The global market for savory snacks had a size of USD 262.7 billion in 2022 and is projected to reach USD 404 billion by 2032. During the forecast period, the market is expected to achieve a revenue compound annual growth rate (CAGR) of 4.9%. The rise in market revenue is mainly driven by factors such as changes in consumer lifestyles and the increasing popularity of snacks consumed between meals. Additionally, the market growth is expected to be supported by factors like the growing demand for convenient food options and the availability of a wide variety of savory snacks with unique flavors and ingredients.
Another reason behind the increased demand for savory snacks is the trend towards healthier snacking choices. Consumers are opting for snack products that are healthier and more natural than conventional snacks, leading to a surge in the popularity of items that are low in fat, sugar, and gluten such as baked snacks and vegetable chips. This trend is further fueling the revenue growth of the Chips Savory Snacks Market.
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Top Companies Operating in the Global Chips Savory Snacks Market Report:
- PepsiCo, Inc.
- Kellogg Company
- General Mills, Inc.
- Mondelez International, Inc.
- Nestle SA
- The Kraft Heinz Company
- Calbee, Inc.
- Conagra Brands, Inc.
- The Hershey Company
- Snyder's-Lance, Inc.
Key Trends of Chips Savory Snacks Market:
- Health and Wellness Focus: Consumers are increasingly seeking healthier snack options. This trend has led to a rise in demand for savory snacks that are low in calories, fat, and sodium, while high in protein, fiber, and other nutritious ingredients. Snacks made from whole grains, vegetables, and plant-based proteins have gained popularity.
- Premium and Gourmet Offerings: There is a growing demand for premium and gourmet savory snacks. Consumers are willing to pay more for snacks that offer unique flavors, high-quality ingredients, and innovative combinations. This trend has led to the emergence of artisanal brands and the expansion of premium snack product lines by established companies.
- Clean Label and Transparency: Consumers are increasingly looking for savory snacks with clean labels that provide transparency regarding ingredients and production methods. They prefer snacks that are free from artificial additives, preservatives, and genetically modified organisms (GMOs). Brands that emphasize natural, organic, and sustainable practices have gained favor.
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The global Chips Savory Snacks Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type Outlook:
- Chips
- Extruded Snacks
- Nuts and Seeds
- Popcorn
- Meat Snacks
- Others
Distribution Channel Outlook:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Channels
- Others
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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