Savory Snacks Market Forecast and Outlook 2032

1. Savory Snacks Market Demand to Cross USD 427.6 Bn by 2032 Global Market Insights Inc.

2. Overview of Savory Snacks Market The savory snacks marketsize is expected to reach more thanUSD 427 billion by the end of 2032, according to the report. The prevailing health and wellness trends across the globe will positively influence the market growth. The growing focus of consumers on actively seeking savory snacks that are low in calories has led to the development of wide range of health-focused snack options, including baked chips, air-popped popcorn, vegetable crisps, and snack-sized portions of nuts. Lately, there has also been noticeable preference for snacks with specific health claims, such as gluten-free, organic, and non-GMO. Furthermore, the growing efforts by market participants on strategic investments will drive the market growth. For instance, in February 2023, Europe Snacks, a savoury snack producer, expanded its product line by acquiring 100% shares of Burts Snacks, a snack company specializing in hand-cooked chips in the U.K. Global Market Insights Inc.

3. Continue… Savory nuts and seeds to witness high demand Savory snacks market size from the nuts and seeds product type segment is likely to record substantial growth between 2023 and 2032 driven by the shifting consumer preference towards healthier snack options and the rising trend of plant-based and natural foods. Savory nuts and seeds align perfectly with the growing demand for clean-label, minimally processed, and vegetarian or vegan-friendly snacks. Additionally, the versatility of savory nuts and seeds in different flavor profiles and packaging innovations has attracted diverse customer base, adding to the segment growth. For instance, in May 2023, the makers of Planters®, a leading snack nuts brand introduced new lineup of Bold Flavors to its popular cashews. Low-calorie snacks to gain significant traction Savoury snacks market size from thelow-calorie snacks segment witnessed considerable demand in 2022 and is projected to record substantial growth through 2032 owing to the heightened consumer focus on health and wellness. Low-calorie snacks offer guilt-free indulgence, mainly appealing to those looking to manage their weight or make more mindful dietary choices. The surge in obesity and lifestyle-related health issues is also driving the adoption of low-calorie snacks. Global Market Insights Inc.

4. Continue… High product sales from convenience stores Savory snacks market size from the convenience stores distribution channel segment is set to register significant CAGR from 2023-2032. The emergence of busy schedules, urbanization, and the desire for quick and easy snack options have compelled multiple people to rely more on convenience stores for their snacking needs. Convenience stores offer wide selection of savory snacks, including chips, pretzels, nuts, and ready-to-eat items to cater to the impulse-buying tendencies of consumers. Moreover, the growing efforts by brands to introduce new flavors and products to diverse customer base will further drive the sales and market expansion. To cite an instance, in October 2022, WUJU Foods expanded its Asian Tang potato chips retail distribution to HomeGoods locations across the U.S. Global Market Insights Inc.

5. Continue… Asia Pacific to emerge as a lucrative market destination Asia Pacific accounted sizable revenue share of the savoury snacks market in 2022 and is estimated to witness robust growth through 2032. The changing lifestyles and urbanization have led to the increasing demand for convenient, ready-to-eat snacks in the region. The influence of Western snack culture is making way for the rapid expansion of e-commerce and modern retail channels, further driving the consumption of savory snacks. Moreover, the rising focus of manufacturers on introducing local flavors and ingredients into snack products for catering to regional tastes and preferences will boost the market growth. Savory Snacks Market Participants The competitive landscape of the savory snacks industry includes prominent firms, such as Nestlé – Switzerland, The Kraft Heinz Company, Conagra Brands, PepsiCo, General Mills, Mondelez International, Calbee, Inc., The Campbell Soup Company, The Hershey Company, The Hain Celestial Group, Intersnack Group – Germany, Snyder's-Lance (Campbell Snacks), Kellogg Company, The Wonderful Company, and Utz Brands, Inc. These industry leaders are working towards extending their product offerings to tap into the fast-developing snacks industry. Global Market Insights Inc.

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