Global Savory Snacks Market Growth Trends, Key Players, Competitive Strategies and Forecasts 2020 – Acute Market Reports
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.
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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
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.
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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.
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.
The growing supermarkets and hypermarkets in the developing countries are laying growth opportunities for the savory snacks market. The increasing per capita income is promoting growth of supermarkets in the developing countries such as China, India, Thailand, and Malaysia which also holds good opportunity for the savory snacks market. The increasing numbers of supermarkets and hypermarkets coupled with growing per capita income is encouraging people for bulk buying of savory snacks, which is mostly offered by the large scale retail. Convenience stores are another format which is growing at global level due to peoples’ growing demand for convenience.
People are demanding varieties in snacks, which is encouraging companies to launch new products. Several companies have been announcing the launch of products with new tastes, flavours, and shapes to maintain their competitiveness in the market. Moreover, customers’ increasing inclination towards organic foods is compelling the savory snack companies to innovate their products for customer retention.
The global savory snacks market is highly competitive due to the presence of a large number of producers in the market. The key reason for the growth of PepsiCo in the market is their strong multinational presence in food and beverages segment and their large product portfolio of savory snacks. The company has also been adding varieties to its savory snacks portfolio through research and development investments. The global savory snacks market has a fragmented structure with a large number of companies.
Major Competitors: Some of the major competitors in the market include PepsiCo., Kraft Foods, ConAgra Foods, CALBEE, Diamond Foods, General Mills, Intersnack Group GmbH, Lorenz Bahlsen, Kellogg company, and Orkla ASA.
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- 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.
Scope Of Report
The research offers the Savory Snacks market size and market forecast for the period 2011 to 2020, with further breakdown by segment and region.
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