Savory Snacks Market Will Reach over USD218bn by 2025

The global savory snacks market is expected to reach USD218.44bn by 2025, while the rising health awareness coupled with growing consumption of healthy snacks will drive demand for the product, according to an analysis on the global savory snacks market recently launched by Research and Markets.

The roasted/toasted flavored savory snacks, including potato chips, are the largest flavor segment in the market growing at a CAGR of over 8.0% from 2016 to 2025. The familiarity of taste and availability of a large number of products in this flavor are expected to drive the demand.

Convenience stores are expected to be the highly preferred distribution channel in 2025 with a share of over 33% on account of easy availability of the products.

Asia Pacific is the fastest growing regional segment with market share of over 30% in 2015. The growing demand from developing countries such as India, Indonesia, and Thailand is expected to propel the demand over the next nine years.

The industry participants are constantly engaged in improving their operations and introducing new flavors to gain market share, according to the report. The industry is characterized by high marketing costs and rising investments in order to improve the supply chain of the company.

The market growth of these products is driven by health considerations and consumer taste. The presence of numerous flavors coupled with rising R&D investment by major industry players in order to introduce new products is further expected to propel growth over the coming years.

The major products in the market are potato chips, nuts & seeds, extruded snacks, and popcorn. The growing consumption of convenience food is expected to fuel the demand, while the changing retail landscape and the rise of e-commerce are expected to have a positive impact on the growth over the next nine years.