Global Savoury Snacks Market is expected to grow at a CAGR of 5.1%
WiseGuyReports has added new market study to its database, titled “2019 Global and Regional Savoury Snacks Market Research Report Forecast 2025”.
PUNE, MAHARASHTRA, INDIA, December 5, 2019 /EINPresswire.com/ -- Report Overview:
Global Savoury Snacks Market is expected to grow at a CAGR of 5.1% to reach a market value of USD 142 billion by 2026.
Savoury snacks are made from raw materials such as vegetables (potato, carrot etc.), fruit, grains (such as wheat, maize, rye, and rice), starch, vegetable oils and seasonings. These are consumed in small quantity and don’t lead to much of fats. Savoury snacks includes variety of products including potato crisps, corn chips/ tortillas, puffed and baked snacks, crackers, pretzels, savoury biscuits, popcorn, meat snacks, peanuts and other snack nuts.
Market Dynamics: Drivers, Restraints, Opportunities Challenges
The global Savoury Snacks Market is primarily driven by busy lifestyles and increased consumption of convenient food products like Savoury Snacks which are readily available in nearby store, by young people all around the world. Increase in the number of multiplexes and Video on demand services in the developing countries like India, China and Others along with the snacking habits of people while watching movies and series is increasing all around the world, which will be driving the market during the forecast period.
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The nutrient content of a 100-gram (3.5-oz) serving of air-popped popcorn: Vitamin B1 (Thiamin): 7% of the RDI (Reference Daily Intake), Vitamin B3 (Niacin): 12% of the RDI, Vitamin B6 (Pyridoxine): 8% of the RDI, Iron: 18% of the RDI, Magnesium: 36% of the RDI, Phosphorus: 36% of the RDI, Potassium: 9% of the RDI, Zinc: 21% of the RDI, Copper: 13% of the RDI, and Manganese: 56% of the RDI.
However, due to several regulations of the government pertaining to labelling and packaging of the food product is hampering the growth of Savoury Snacks.
Key Segments
Savoury Snacks Market, By Product Type:
• Potato Chips
• Extruded Snacks
• Nuts & Seeds
• Popcorn
• Meat Snacks
• Others
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Savoury Snacks Market, By Distribution Channel:
• Online distribution channel
• Offline distribution channel
Offline distribution channel has the dominant position in the Savoury Snacks market due to the rising supermarkets and hypermarket giving excess to these ready to eat products to the consumers easily all around the world.
Global Savoury Snacks Market– Competitive Analysis
Key players are adopting strategies such as investing in R&D, new product launches, expansion in distribution channels to stand out as strong competitors in the market. Global Savoury Snacks is a competitive market with the presence of various global and regional players in the market.
The major players include Foods PepsiCo Inc., Kraft Foods, ConAgra Foods, CALBEE, and Diamond. Other key players in the market include General Mills, Arca Continental, ITC, Kellogg Company, Universal Robina.
In April 2019, Kettle Chips has launched a range of chips in UK and will be distributed by D&D Snacks, Suma, and Hyder. And these will also be placed in stores of Sainsburys and Tesco initially.
In August 2018, Indian popcorn start-up Timla Foods raises $2 Million from Anicut Capital, an investment firm with a focus of small and medium enterprises (SMEs) for countrywide expansion.
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