Savory Snacks Market Size

Global Savory Snacks Market Overview

The Savory Snacks Market Size valued at USD 129.3 billion in 2023. Savory Snacks industry is projected to grow from USD 135.57 Billion in 2024 to USD 188.90 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.23% during the forecast period (2024 - 2032). Increased consumption of low-calorie snack items and the growing popularity of baked foods among consumers are the key market drivers enhancing the market growth.

Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review

Savory Snacks Market Trends

• Growing consumers' demand for healthy snacking is driving the market growth

Market CAGR for savory snacks is being driven by the rising number consumers' demand for healthy snacking. A gradual rise in life expectancy and greater attention to quality has been seen; consumers are becoming largely concerned about their health and being more conscious about their lifestyle and dietary habits. Countries globally are going through a nutritional transition and countering the dual burden of nutritional problems.

As per the WHO, major challenges continue to remain, like, undernutrition and specific nutrient deficiencies with an imbalance diet and chronic diseases together are becoming dangerously common. Moreover, the rise in sedentary lifestyles, obesity rates, an aging population, and consumer interest in health and nutrition are demanding healthy snacking. Consumers' awareness about health, nutritional enrichment, calorie reduction, and food safety has increased, mainly in developed countries and high-income groups in developing countries, which is anticipated to change the food & beverage industry and fuel the demand for healthy snacks. The government's drive to educate the rural population on nutrition, the rising working population, and the lack of time to prepare food has led to the demand for healthy snacks. The growing awareness about the importance of proper diet and inclination towards fitness by the young generation are the factors for the growing demand for healthy snacks. Furthermore, the rising population in Asian countries, introduction of food categories, subjection to Western products, and growing number of nuclear families fuel the demand for healthy snacks, like nuts & seeds and meat snacks.

Furthermore, the increasing demand for nutritional bars by the rising health-conscious population is increasing the sale of healthy snacks. Consumers are widely spending on value-added food categories to continue healthier lifestyles, increasing the healthy snacks sale. Increasing consciousness among consumers to enhance their immunity to prevent infection risk has impelled them to maintain healthy lifestyles and adopt proper dietary habits. A protein-rich diet will help minimize the effects of the virus on at-risk people because of plenty of macro-nutrients, micro-nutrients, and antioxidants. Hence all these factors are anticipated to fuel the healthy snacks market, which in turn will increase the demand for savory snacks. Thus, driving the savory snacks industry revenue.

Segment Insights

Savory Snacks Type Insights

The Savory Snacks market segmentation, based on type, includes Potato Chips, Nuts & Seeds, Popcorn, and Others. The potato chips segment has the largest share in the savory snack market due to the development of new flavors and boiled potato chips that have medical advantages. These chips have fewer calories, less fat, and high potassium. The nuts & seeds segment is expected to grow at the fastest rate, which is a good source of protein, healthy fats, fibers, and vitamins.

Savory Snacks Distribution Channel Insights

The Savory Snacks market segmentation, based on distribution channels, includes Hypermarkets & Supermarkets, Convenience Stores, Online, and Others. The hypermarkets & supermarket distribution channels have the largest contribution to the market due to changing consumer preferences, and the attainability of a large range of products offered by varied branded and private labels in this format is expected to fuel the growth of the market. Online distribution is anticipated to increase at the highest rate, as it is changing the nature of snacking and is expected to rise as a proportion of snack category sales. The use of online purchases has profited many online retailers like Amazon, Walmart, and Target.

Figure 1: Savory Snacks Market, by Distribution Channel, 2022 & 2032 (USD billion)

Source Primary Research, Secondary Research, MRFR Database, and Analyst Review

Savory Snacks Regional Insights

By Region, the study gives market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American savory snacks market has the largest market share, owing to the availability of a few distinctive market players that offer different savory bites and enlarging the tendency of customers towards comfort food items. The growing awareness is rising demand for clean-label savory snacks, easy availability at the grocery stores, and the consumers changing habit to snacking in between the mealtime is fueling the market in the region. The US is the largest contributor to the North American market for savory snacks.

Further, major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: SAVORY SNACKS MARKET SHARE BY REGION 2022 (%)

Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review

Europe's Savory Snacks market accounts for the second-largest market share as the people here consume it on a variety of occasions, they prefer quick meals over full meals, and also the increasing health awareness among the population. Further, the UK market for savory snacks held the largest market share, and the Spain savory snacks industry was the fastest growing market in the European region.

The Asia-Pacific Savory Snacks Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to expanding awareness of a healthy lifestyle and growing economies in the countries. Moreover, China’s market for savory snacks held the largest market share, and the Indian savory snacks industry was the fastest-growing market in the Asia-Pacific region.

Savory Snacks Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Savory Snacks market grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Savory Snacks industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Savory Snacks industry to benefit clients and increase the market sector. In recent years, the Savory Snacks industry has offered some of the most significant advantages to health-conscious consumers. Major players in the Savory Snacks market, including Kraft Heinz Company, PepsiCo, Diamond Foods LLC, CALBEE Inc., JACK Link’s LLC., Orkla ASA, Conagra Brands Inc., Intersnack Group GmbH & Co. KG, Kellogg Co., Mondelez International, Hain Celestial Group, Nestle SA, ITC Limited, General Mills Inc., and others, are attempting to increase market demand by investing in research and development operations.

Terra Chips were discovered by two New York Chefs, Dana and Alex; Terra Chips are extraordinary vegetable chips, an appetizer that is a flavorful snack on the bar. It uses not only the potato but also exotic root vegetables like taro, sweet potato, batata, parsnip, and yucca with healthy olive oils, no preservatives, artificial coloring, or flavorings. Terra Chips is a part of the Hain Celestial family, which is a leading organic and natural product company operating in America, Europe, and India. In March 2021, Future Group announced to sell off its US-based Terra Chips in India for expansion, and Hain Celestial Group joined the venture to manufacture the Terra Chips in India.

General Mills was established in 1866 as an American manufacturer and marketer of branded processed consumer food sold through retail stores. It acquired a five-unit restaurant company named Red Lobster and expanded globally and started to take charge of the restaurants. General Mills acquired the California-based Good Earth health food restaurant chain, which was eventually converted to other chain restaurants they were operating. In 1982 they founded a new Italian-themed restaurant chain Olive Garden. In January 2021, General Mills had an obtaining with the EPIC province in order to create meat tidbits that are regular and natural.

Key Companies in the Savory Snacks market include

• Kraft Heinz Company


• PepsiCo


• Diamond Foods LLC


• CALBEE Inc.


• JACK Link’s LLC.


• Orkla ASA


• Conagra Brands Inc.


• Intersnack Group GmbH & Co. KG


• Kellogg Co.


• Mondelez International


• Hain Celestial Group


• Nestle SA


• ITC Limited


• General Mills Inc.

Savory Snacks Industry Developments

In August 2022, Pecan Nation (thepecannation.com), a company that was the first to introduce farm-fresh pecans into the $5.1 billion snacking nut market, won the 2022 Most Innovative New Product Award from the National Confectioners Association (NCA) for their Cinnamon Roasted Pecans.

In August 2022, PepsiCo got involved in high-end potato chips business to have variety of snacks. With its Lay’s Gourmet brand line of products being sold under the slow-cooked premium kettle chip sector, this is one among many other product options that are now available on this nation’s rapidly growing premium snack market.

An undisclosed seed round of funding has been secured by Earth Crust Pvt. Ltd., a healthy snacks producer for Indians, during July 2022. The country’s first and largest integrated incubator and accelerator is Venture Catalysts.

For example, in January 2022 Plant-based food brand Gosh! Launched its chilled, ready-to-eat healthy Snack Bites into over ten Aldi stores across Great Britain and Ireland. There are health choices in plant-based Smokey BBQ Sweet Potato and Moroccan Spiced Veg made from natural ingredients such as baked vegan with no gluten, soy or nuts; these are free from the top 14 allergens, which include gluten-free soya protein isolate and peanuts.

January 2022: ParmCrisps was acquired by Hain Celestial, which is a rapidly growing, better-for-you brand that provides delicious, convenient products that are consumers' favorites from Clearlake Capital Group. This acquisition has strengthened Hain's position in the snacking category and constitutes a significant step in establishing Hain as a  high-growth, healthy food company globally.

Kazoo debuted the world’s first water-saving tortilla chips in September 2021. The company makes its snacks out of corn starch derived from corn germ making up 40%.

August 2021: Calbee launched a new range of plant-based snack products, which is a baked and not fried vegetable and pulse-based snacks that aim to give a healthy alternative to traditional fried crisps and snacks.

Future Group plans to sell U.S.-based Terra Chips in India, as announced in March 2021. Hain Celestial Group, for expansion purposes, has entered into a joint venture to manufacture Terra Chips in India.

Savory Snacks Market Segmentation

Savory Snacks Type Outlook

• Potato Chips


• Nuts & Seeds


• Popcorn


• Others

Savory Snacks Distribution Channel Outlook

• Hypermarkets & Supermarkets


• Convenience Stores


• Online


• Others

Savory Snacks Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  

• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  

• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  

• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America