San Francisco, California, October 04, 2017: The vast changes in food habits, mainly attributed to the rapid pace of urbanization, in various developed and developed regions is a key factor driving the evolution of savory snacks market. The growing demand for salty and crunchy snacks in between meals among various demographics, especially among working populations, is a key factor boosting the market. The advent of savory snacks with innovative flavors that meet a variety of sensory cravings, is a key factor catalyzing the growth of the market. A new report penned by TMR Research, titled “Savory Snacks Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” offers a comprehensive and detailed assessment of such trends and drivers influencing the growth of the market.
The discernable shift from sugary to savory snacks is driven by the urge to avoid sugar fatigue among youth populations. The rising demand for healthier snacks that are less on calorie, contain multivitamins and micronutrients is a key factor expected to accentuate the market. The demand for snacks with purported health benefits is gaining significance among populations on a low-calorie diet to help in their weight management. This is a key factor propelling the demand for savory snacks made of power foods such as nuts and whole grains.
The extensive demand for potato chips among demographics is a key factor vastly contributing to the market growth. Intensifying research and development activities on developing innovative formulations that also contain various nutrients has accentuated the market in major regions. The rising demand for gluten-free products among health-conscious populations and those on restricted diets is a prominent trend bolstering the demand for savory snacks.
The increasing thrust of leading players on promotional activities and efforts undertaken by them to consolidate their distribution chains are recent trends opening up exciting avenues in the market. The increasing focus of producers on clean label also augurs well for the market. In addition, the advent of more interactive packaging is expected to increase the popularity of savory snacks. The inclusion of topical flavors and blends to meet varied taste expectations of consumers is a prominent trend expected to unlock exciting opportunities for market players in various regions. Furthermore, the rising sale of savory snacks in supermarkets and hypermarkets is anticipated to further accentuate the market in the coming years.
Regionally, North America is a prominent market for savory snacks, driven by substantial consumption of snacks across demographics. Rising weight management issues is expected to account for a soaring demand for healthier snacks containing essential nutrients and vitamins. Europe is another prominent market for savory snacks. A major chunk of demand is expected to come from the U.K. The substantial demand for potato chips, nuts, and other healthy savory snacks is boosting the growth of this regional market.
Meanwhile, the Asia Pacific market for savory snacks is predicted to rise at an impressive pace and is expected to contribute a substantial revenue in the global market. A major part of the growth will be driven by Japan, China, and India.
The global savory snacks market is fragmented to a large extent with the presence of a vast number of players of all sizes. Prominent companies in the market are differentiating their products on the basis of superior quality and brand recall and by offering competitive pricing.
Key players operating in the market include Orkla ASA, Kellogg Company, General Mills, Inc, Diamond Foods, Inc, Kraft Foods Group, Inc, Intersnack Group GmbH & Co. KG, PepsiCo, and ConAgra Foods, Inc.
Click on the link below to request a sample copy of the report