Major players in the savory snack products market are PepsiCo Inc. , Kellogg Co. , General Mills Inc. , Calbee Inc, ITC Limited, Hain Celestial, Conagra Brands Inc. , The Kraft Heinz Company, Mondelez International Inc.
New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Savory Snack Products Global Market Report 2022" - https://www.reportlinker.com/p06317657/?utm_source=GNW
, Nestle SA , Grupo Bimbo , Aviko B.V., Intersnack Group GmbH & Co. KG, Haldiram’s India Pvt Ltd, Hormel Foods Corporation, Tyson Foods Inc., Lamb Weston Holdings Inc., McCain Foods Limited , Frito-Lay North America Inc, Parle Products Pvt. Ltd, and Anji Foodstuff Co. Ltd.
The global savory snack products market is expected to grow from $99.83 billion in 2021 to $110.02 billion in 2022 at a compound annual growth rate (CAGR) of 10.2%. The savory snack products market is expected to grow to $144.87 billion in 2026 at a CAGR of 7.1%.
The savory snack product market consists of the sale of savory snack products by entities (organizations, sole traders, and partnerships) that comprise savory foods that have a salty or spicy flavor rather than a sweet one.Savory foods, including grains, starch, veggies, seasonings, and vegetable oils, are used to make savory snack products.
Savory snacks include corn chips, puffed snacks, popcorn, peanuts, potato chips, baked snacks, meat snacks, savory biscuits, and other nut snacks.
The main types of savory snack products are potato chips, extruded snacks, popcorn, nuts and seeds, puffed snacks, tortillas, and others.The potato chips are thin slices of potato that have been fried till crispy and then seasoned.
They can be eaten hot or cold. The different flavors include barbeque, spice, beef, roasted or toasted, and others and are distributed through various channels such as retailers, online, supermarkets and hypermarkets, convenience stores, and others.
North America was the largest region in the savory snack products market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the savory snack products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The savory snack product market research report is one of a series of new reports that provides savory snack product market statistics, including savory snack product industry global market size, regional shares, competitors with a savory snack product market share, detailed savory snack product market segments, market trends and opportunities, and any further data you may need to thrive in the savory snack product industry. This savory snack product market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The rise in the adoption of convenience food products is contributing to the growth of the savory snack products market going forward.Restaurant meals and ready-to-eat food from grocery stores are examples of convenience foods that save time in food purchase, preparation, and cleanup.
Convenience food products are useful for people who have poor cooking skills or don’t have time to search for and execute recipes from scratch and serve them as ready-to-eat meals.As a result, the rise in the adoption of convenience food products increases the demand for savory snack products.
For instance, in July 2021, according to The Hindu Business Line, an Indian business newspaper, 79% of Indian households preferred to have instant food due to time constraints. Therefore, the rise in convenience food products is driving the growth of the convenience food products market moving forward.
Strategic partnerships have emerged as a key trend gaining popularity in the savory snack product market.Major companies operating in the savory snack products market are looking for partnerships to strengthen their position in the market.
For instance, in June 2021, The Kellogg Company, a US-based savory snack products manufacturing company, partnered with Wendy’s, a US-based holding company for the fast-food chain, in the savory snack products market.Through this partnership, the companies released a co-branded Pringles chip flavor, Wendy’s Spicy Chicken.
Furthermore, in May 2021, Utz Brands, Inc., a US-based savory snack products manufacturing company, partnered with Ferrara, a US-based candy company. Through this partnership, both companies created new and exciting snack food variety packs, including a range of indulgent sweet and salty snack foods, such as pretzels, cookies, popcorn, and cheeseballs.
In December 2021, Utz Brands Inc., a US-based snack food company, acquired R.W. Garcia Holdings LLC for a deal amount of $56 million. With this acquisition, Utz brands would place production capabilities in the North, East, and West regions of the United States. R.W. Garcia Holdings LLC is a US-based family-owned and operated company that manufactures savory snack products, including high-quality tortilla chips, crackers, and corn chips.
The countries covered in the savory snack products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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