Technavio, a tech-focused market research firm, has published a new report on the global savory snacks market, which is expected to grow at a CAGR of more than 5% during the forecast period, 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global savory snacks market into the following key regions: APAC, Europe, North America, and ROW.
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Top three contributors for the global savory snacks market are elaborated below:
Savory snacks market in North America: The consumers’ need for convenient food items which can be consumed on-the-go is the fundamental driving force behind the growth of the savory snacks market in North America. The US is the key revenue contributing country in the region.
According to Moutushi Saha, a lead analyst at Technavio, specializing in research on food, “. About 22% of PepsiCo’s global revenue share comes from its savory snacks business segment, Frito-Lay North America. This shows the exclusive contribution of this region as the leader in the savory snacks market.”
Savory snacks market in APAC: The preference for snacking between regular meals, changes in lifestyles, the wide availability of different types of savory snacks, and the significant decline in the tradition of homemade snacks drive the demand for savory snacks in the APAC region. The growing snacking trend and the rising penetration of packaged foods are projected to reflect positively on the growth of the market in APAC during the forecast period.
Savory snacks market in Europe: The demand for savory snacks is high in Europe as these products are popularly consumed during various occasions. The UK and Spain are leading the market in this region, mostly owing to the consumption of snack items between regular meals and demand for healthier and low-calorie savory snacks. The demand for savory snacks is also increasing at a rapid rate in countries such as the Netherlands, Norway, and Germany.
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The leading vendors operating in the global savory snacks market are:
- Aviko
- Calbee
- Intersnack Group
- Kellogg
- Lamb Weston
- McCain Foods
- PepsiCo
Other prominent vendors in the market include Arca Continental, Blue Diamond Growers, Burts Potato Chips, Conagra Brands, Haldiram Foods International, Hain Celestial Group, Herr Foods, Hormel Foods, ITC, JFC International, Link Snacks, Mars, Mondelēz International, Old Dutch Foods, Orkla, The Lorenz Bahlsen Snack-World, Kraft Heinz, Tyson Foods, Tyrrells Potato Crisps, and Want Want Holdings.
A more detailed analysis is available in the Technavio report titled, ‘Global Savory Snacks Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Baked Savory Snacks Market 2016-2020
- Global Packaged Fruit Snacks Market 2017-2021
- Global Processed Snacks Market 2016-2020
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