Savory snacks in this report refer to processed and packaged snacks with pleasant and aromatic taste. For better understanding of various components of the market, they are categorized as potato chips, processed snacks, popcorn, nuts, and others. Others refer to ethnic and region specific snacks offered mostly by the domestic companies in a country. Nuts include processed nuts and seeds such as almonds and walnuts.
Key findings of Savory Snacks Market:
- Asia-Pacific is expected to dominate the global savory snacks market surpassing the revenues of North America during the forecast period
- Japan and China together are expected to account for about 15% of the global savory snacks market, in terms of value, by 2020
- India, China and Mexico are expected to be the most lucrative market during the forecast period due to their high growth rate
- Sales through supermarkets and hypermarkets is expected to increase during the forecast period due to increasing urbanization
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The demographic and economic changes such as rising urbanization, increasing per capita income, and need for convenience have been shaping the global savory snacks market. The developing countries seem to offer more opportunities for the market as compared to their developed counterparts. Earlier snacks were considered as stop-gap food between the meals for a change of taste and mood; however in the current scenario they are now being consumed among meals in several developed countries. The busy lifestyles are leading people to eat more of packaged food including snacks, bakery and confectionary products. People consume snacks while driving, watching movies, partying, web-surfing, and during the office break hours.
These campaigns are posing challenge for the snack products of the company with gluten composition. For instance, Coeliac U.K., a U.K.-based charity organization has been active in ‘Gluten-free Guarantee’ campaign, under which it encourages supermarkets in the country to offer gluten-free food products including the savory snacks.
Savory snacks manufacturing companies are engaged in innovation of their offerings to remain competitive amidst competition from its substitutes. The rising concern for health is also compelling the companies to increase healthier products in their portfolio. The market is highly competitive due to its fragmented nature; however, PepsiCo with its large share stands as an exception.
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The supplier side of the savory snacks industry includes food ingredient producers and packaging producers, who supply agricultural produces, corn starch, potato starch, flavours and packaging materials. After the production in the manufacturers’ facility, the packaged snacks reach end consumers through various channels including distributors, retail, cafes and restaurants. The large retail includes supermarkets and hypermarkets; whereas, the small retail include convenience stores, independent retailers, service stations, and other small retail formats. Large retail formats such as supermarkets and hypermarkets account for the largest share of grocery sales in most of the developed countries. Large discount offered by them on large grocery packets encourages customers to buy more from them.
- Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis
- Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
- Uncovers potential demands in the market
- Porter analysis identifies competitive forces within the market
- Provides information on the historical and current market size and the future potential of the market
- Provides sizes of key regional markets using yardsticks of segments, applications, and segments of applications
- Highlights the competitive scenario of the market, major competitors, and benchmarking
- Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics.
- Profiles provide better understanding of competition as well as the demands of the market.
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