Novelty items are crucial to market growth in developed countries.
The recent Global 2016 Savory Snacks Market Report has revealed the savory snack market’s high growth categories, trends in packaging materials usage, brands market shares, category level distribution and more.
The Global Savory Snacks market in 2015 was valued at $94.5 billion and is expected to post a value CAGR of 7.9% and per capita value CAGR of 7.1% during 2015-2020. Growth in the global market is expected to come mainly from the developing countries in the Asia-Pacific region followed by the East European regions, while countries in the Latin American region are expected to register marginal growth. Booming population in Asia-Pacific regions coupled with healthy economic outlook presents a significant opportunity for growth of Savory Snacks market. In developed markets (such as the U.S., the UK and France), novelty is crucial and consumers look for exotic and different flavors in Savory Snacks while in developing markets (such as Brazil, China and India) novel products as well as value deals remain high in demand. The Global Savory Snacks market is highly fragmented with the top five brands holding less than 16% of the combined market share. Lay’s, Doritos, Pringles, Cheats and Ruffles are the leading brands with the highest market share in 2015. Hypermarkets and Supermarkets is the leading retail channel for Savory Snacks across all regions followed by Convenience Stores. Flexible Packaging is the most commonly used packaging material in the Global Savory Snacks market accounting for majority of the market share.
The global savory snacks market is set to grow, driven by increasing urbanization levels and growing demand from developing countries. Drivers for shift in consumption patterns: Increasing urbanization and emerging middle income group in the developing countries is driving the Savory Snacks industry growth. In East Europe region, Russia is the largest market for Savory Snacks products in value terms, and is expected to grow at a CAGR of 10% during 2015-2020.
Global Savory Snacks market is highly fragmented with the top five brands holding less than 16% of the combined market share. Ethnic/Traditional Snacks -Bourbon Petit is one of the leading brands of Ethnic/Traditional Snacks in the Asia-Pacific region, with over 20% value share in Japan. Compared to other regions, private label brands have a strong presence in Western Europe and North America. Hypermarkets and Supermarkets is the leading distribution channel in the global Savory Snacks market. Flexible Packaging is the most commonly used containers in the Savory Snacks market.
Companies mentioned are PepsiCo Inc., Frito-Lay, Kellogg Co., H.W. Lay and Co., Want Want Holdings Ltd, Calbee, Bourbon Corp., AVI Limited, Kraft Foods, Chio Chips, Estrella, General Mills, Haldiram`s, Amanoya Kabuki, Kameda, Greendot Health Foods Ltd, Tyrrells and All Good Snacks Co.
Another region specific related report is Consumer and Market Insights: Savory Snacks Market in the U.S. The report analyzes market data, demographic consumption patterns and the key trends driving the category. The report highlights innovative new product development that effectively targets the most pertinent consumer needs, and offers strategic recommendations to capitalize on evolving consumer behaviors.
Key Findings: The U.S. is a major global Savory Snacks market significantly outsizing major economies in 2014. Processed Snacks is the leading category by value and volume. The U.S. Savory Snacks market is driven by consumers’ desire for relaxation and escapism. U.S. women consider indulgence adding value to Savory Snacks.