The global market for savory snacks had a size of USD 262.7 billion in 2022 and is projected to reach USD 404 billion by 2032. During the forecast period, the market is expected to achieve a revenue compound annual growth rate (CAGR) of 4.9%. The rise in market revenue is mainly driven by factors such as changes in consumer lifestyles and the increasing popularity of snacks consumed between meals. Additionally, the market growth is expected to be supported by factors like the growing demand for convenient food options and the availability of a wide variety of savory snacks with unique flavors and ingredients.
Another reason behind the increased demand for savory snacks is the trend towards healthier snacking choices. Consumers are opting for snack products that are healthier and more natural than conventional snacks, leading to a surge in the popularity of items that are low in fat, sugar, and gluten such as baked snacks and vegetable chips. This trend is further fueling the revenue growth of the Chips Savory Snacks Market.
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Top Companies Operating in the Global Chips Savory Snacks Market Report:
- PepsiCo, Inc.
- Kellogg Company
- General Mills, Inc.
- Mondelez International, Inc.
- Nestle SA
- The Kraft Heinz Company
- Calbee, Inc.
- Conagra Brands, Inc.
- The Hershey Company
- Snyder's-Lance, Inc.
Major Driving Factors for Chips Savory Snacks Market
- Changing consumer lifestyles: With busy lifestyles and increasing work pressure, consumers are seeking convenient, on-the-go snack options that are easy to consume.
- Rising popularity of between-meal snacks: Snacking between meals has become a common trend among consumers, leading to an increased demand for savory snack products.
- Growing demand for convenience foods: Consumers are increasingly looking for ready-to-eat and easy-to-prepare food options, which is driving the demand for savory snack products.
- Availability of a wide variety of flavors and ingredients: Manufacturers are offering a wide range of savory snack products with unique flavors and ingredients to cater to the diverse consumer preferences.
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The global Chips Savory Snacks Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Product Type Outlook:
- Chips
- Extruded Snacks
- Nuts and Seeds
- Popcorn
- Meat Snacks
- Others
Distribution Channel Outlook:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Channels
- Others
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