Report Id: SNS/F&B/1551 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
The Savory Snacks Market Size was valued at USD 239.8 billion in 2021 and is expected to reach USD 353.48 billion by 2028, and grow at a CAGR of 5.7% over the forecast period 2022-2028.
Savory Snacks are optimal incorporation of zest, and salt with a smooth or substantial layer and are not sweet or dull. Prepared food varieties are incorporated under appetizing tidbits and are favored inferable from the well-being benefits presented by heated food varieties like low-fat substances ascribed to the decreased use of oil and rich taste.
Vegetable oils are omnipresent and odds are good that anything arranged including exquisite tidbits has some sort of vegetable oils associated with its readiness. Low-calorie snacks under the class of savories have arisen as the option in contrast to sweet treat snacks and wholemeal in the midst of the developing transcendence of ceaseless illnesses like diabetes and corpulence generally credited to maximum usage of sugar. The flooding well-being familiarity with buyers is set to drive the Savory Snacks Market.
With shopper interest for more exploratory solid eating encounters, food makers are meaning to speak to the new "inquisitive buyer" by sending off better exquisite nibble choices. Rising urbanization and rushed ways of life are influencing the dietary patterns of shoppers who are logically subbing more adaptable, light, and helpful eating choices for primary dinners.
Impact of Covid-19:
The COVID-19 pandemic fundamentally affects the general food and drink industry. The separation rules have brought about short stock and even undoings, which is hampering the nearby/homegrown players on the lookout. Because of the pandemic, there is a diminishing in the assembling and supply of elements for the food and refreshment industry. The pandemic has fundamentally changed the clients' food inclinations and pushed them to incorporate numerous solid and nutritious food items. Subsequently, in the impending years, customer interest for nuts and seeds, natural products and vegetable-based food sources, and items got from normal sources is supposed to acquire a more elevated level of importance.
As the result, potato chips were the biggest section in the worldwide appetizing nibble items market. Potato chips are profoundly liked among customers because of their taste, low cost, and simple accessibility. Throughout the long term, the ascent in utilization of potato chips and dynamic changes in the utilization design has driven central members in the market to advance their items. These item portfolios presently have more current item goes and is growing across the globe.
By flavor, zest is the second quickest developing section in the worldwide appetizing nibble items market. Hot flavor assumes a significant part in the snack food industry. Bean stew pepper in the fiery flavor class improves the flavor — heat, sharpness, warmth, and chomp — and the shade of arranged food sources. For food makers, these fixings frequently arrive in a concentrate. As provincial cooking styles have become more globalized, customer inclination for food sources that integrate heat has expanded altogether.
By Distribution Channel:
By appropriation channel, the retail section represents the biggest offer in the appetizing nibble items market in 2021. Retail locations offer different brands a wide scope of flavorful nibble items, empowering the customers to look at and go with an educated buying choice. Moreover, retail locations can be credited to the enormous rack spaces accessible in grocery stores and the significance of motivation purchasing while purchasing a bunch of exquisite tidbits. Rebate choices and a more extensive assortment of choices have given the clients more incentive for cash, bringing about purchasers across the globe favoring shopping or getting food and snacks from disconnected retail locations.
Key Market Segmentation:
Nuts & seeds
Other products (fruit & vegetable chips, and pretzels)
Other flavors (cheese, butter, smoky, and umami)
By Distribution Channel:
Supermarkets & hypermarkets
Other retail stores (forecourt retailers, discounters, independent small grocers, among others)
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The bites market in the Asia Pacific locale is assessed to develop, attributable to the development of economies like China, India, Japan, and Australia. The capital power of horticultural creation is expanding around here, bringing about higher farming efficiency. This is causing a more straightforward and better accessibility of good-quality unrefined components like wheat, and corn, expected by the nibble business. These days, rising purchasers' tendency towards comfort food in a urbanized world has supported the utilization of bundled snacks.
PepsiCo, The Kraft Heinz Company, The Kellogg Company, Calbee, Hain Celestial, Conagra Brands, Inc, General Mills, Inc., Blue Diamond Growers, ITC Limited, Grupo Bimbo.
|Market Size in 2021||US$ 239.8 Billion|
|Market Size by 2028||US$ 353.48 Billion|
|CAGR||CAGR 5.7% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by Product (Potato Chips, Extruded Snacks, Popcorn, Nuts & Seeds, Puffed Snacks, Tortillas)
• by Flavor (Barbeque, Spice, Salty, Plain/Unflavored)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, +D11UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||PepsiCo, The Kraft Heinz Company, The Kellogg Company, Calbee, Hain Celestial, Conagra Brands, Inc, General Mills, Inc., Blue Diamond Growers, ITC Limited, Grupo Bimbo.|
|Key Drivers||•Development of retail industry internationally.
•Expanding interest for advantageous food items with an in a hurry pattern for nibbling which is low in sugar, and high in protein.
|Market Opportunities||•Expanding interest for sound tidbits.
•Developing prevalence of heated food sources among customers.
Frequently Asked Questions (FAQ) :
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 Covid 19 Impact Analysis
4.2 Impact of the Ukraine and Russia war
5. Value chain analysis
6. Porter’s 5 forces model
7. PEST analysis
8. Global Savory Snacks market segmentation, by Product
8.1 Potato chips
8.2 Extruded snacks
8.4 Nuts & seeds
8.5 Puffed snacks
8.7 Other products (fruit & vegetable chips, and pretzels)
9. Global Savory Snacks market segmentation, by Flavor
9.5 Other flavors (cheese, butter, smoky and umami)
10. Global Savory Snacks market segmentation, by Distribution Channel
10.1.1 Supermarkets & hypermarkets
10.1.2 Convenience stores
10.1.3 Online stores
10.1.4 Other retail stores (forecourt retailers, discounters, independent small grocers, among others)
11. Global Savory Snacks market, by region/ country
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company profiles
12.1.2 Products/ Services Offered
12.1.3 Swot Analysis
12.1.4 The SNS View
12.3 The Kraft Heinz Company
12.4 The Kellogg Company
12.6 Hain Celestial
12.7 Conagra Brands, Inc
12.8 General Mills, Inc.
12.9 Blue Diamond Growers
12.10 ITC Limited
12.11 Grupo Bimbo.
13. Competitive Landscape
13.1 Competitive Bench Marking
13.2 Market Share Analysis
13.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brainstorming sessions to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content-specific facts that can be sued to solve specific problems. Since the collected data is fresh and first-hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply sides of the industry to make sure we land an accurate judgment and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses, and observation of on-field participants. The below-mentioned chart should give a better understanding of part 1 of the primary interview.
Part 2: In this part of the primary research the data collected via secondary research and part 1 of the primary research is validated with the interviews with individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence center, our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real-time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but is not limited to getting rid of the many typos, duplication of numbers, or missing any important information. The people involved in this process include technical content writers, research heads, and graphics people. Once this process is completed the title gets uploaded on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.