According to the latest report by IMARC Group, titled "Savory Snacks Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025," the global savory snacks market grew at a CAGR of around 5% during 2014-2019. Savory snacks are food products that are characterized by rich, salty or spicy flavor. They are widely consumed as a snack and food item during social gatherings and celebrations. These foods are either baked or fried and are made from a variety of ingredients, including corn, potatoes, oats, grains, nuts, oil, seeds, vegetables, wheat, tapioca and rice. They are also seasoned with salt, spices, garlic powder, pepper and small quantities of sugar. A rich source of fibers, minerals and vitamins, they are widely preferred by the masses due to their long shelf life and convenience of usage. Some of the most common savory snacks are potato chips, salted biscuits, tacos, tortillas, nachos and pretzels.

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Global Savory Snacks Market Trends:

The global market is primarily driven by the increasing demand for convenient food products across the globe. This, in confluence with the rising trend of on-the-go snacking, especially among the youth and working professionals, is contributing to the market growth. This can be attributed to changing dietary preferences, and hectic lifestyles of the masses, which have bolstered the sales of ready-to-eat food products, such as savory snacks, across the globe. Along with this, the rising health-consciousness among individuals has led manufacturers to introduce healthier and value-added product variants with reduced fat and calorie content. These snacks are also fortified with natural, organic and gluten-free ingredients due to which they are widely gaining popularity worldwide. The growing preference for meat-based snacks, such as lean beef or turkey, along with their easy availability across numerous retail outlets, is acting as another major growth-inducing factor. Furthermore, extensive research and development (R&D) activities by key players have led to the launch of snacks with experimental flavors in an effort to expand their product portfolio. Some of the other factors contributing to the market growth include advancements in production facilities and the rapid expansion of organized retail and e-retail portals across the globe. On account of the aforementioned factors, the market is expected to exhibit moderate growth during 2020-2025.

Market Breakup by Flavor:

Roasted/Toasted
Barbeque
Spice
Beef
Others

Market Breakup by Product:

Potato Chips
Extruded Snacks
Nuts and Seeds
Popcorn
Meat Snacks
Others

Market Breakup by Category:

Baked
Fried
Others

Market Breakup by Distribution Channel:

Supermarkets/Hypermarkets
Specialty Stores
Online Stores
Convenience Stores
Others

Competitive Landscape Key Player:

Arca Continental
Calbee
Conagra Brands
General Mills
Hain Celestial
Haldiram's
Intersnack
ITC Limited
Kellogg's, Kraft Foods (Kraft Heinz)
Lamb Weston
Mondelez International Inc (Kraft Foods)
Oberto Snacks Inc. (Premium Brands Holdings)
PepsiCo Inc.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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