Pune, India, April 10, 2023 (GLOBE NEWSWIRE) — The global baked savory snacks market size was worth USD 46.50 billion in 2021. The market valuation is slated to rise from USD 49.23 billion in 2022 to USD 75.83 billion by 2029 at a CAGR of 6.37% during the forecast period.
Salty and flavorful nibbles make up baked savory snacks. It contains variations of popcorn, nuts, and seeds, as well as chips and crisps. These baked goods are regarded as healthful as they use less butter and oil. The demand is rising as a result of a number of advantages, including high energy, the addition of extra nutrients from snacks, particularly nuts, and seeds, and the ability of snacks to control appetite and prevent overeating at subsequent meals. A rise in demand for multigrain chips and the development of novel baked goods are two other key factors propelling the market’s expansion.
Fortune Business Insights™ presents this information in a report titled, “Baked Savory Snacks Market, 2022-2029.”
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List of the Companies Profiled in the Report:
- General Mills Inc. (U.S.)
- Kellogg’s Company (U.S.)
- Orkla ASA (Norway)
- Consolidated Biscuit Co. Ltd (Malta)
- Europe Snacks (France)
- PepsiCo, Inc. (U.S.)
- Chaucer Foods Ltd. (U.K.)
- Lorenz Bahlsen Snack-World GmbH & Co KG Germany (Germany)
- Hain Celestial (U.S.)
- Amplify Snack Brands Inc. (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 6.37 % |
| 2029 Value Projection | USD 75.83 Billion |
| Base Year | 2021 |
| Baked Savory Snacks Market Size in 2022 | USD 49.23 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 187 |
| Segments Covered | By Product, By Distribution Channel, By Geography |
| Baked Savory Snacks Market Growth Drivers | Increasing Consumer Inclination toward Baked Foods to Propel the Market Growth |
| Rising Demand for Healthy Snacking Habits Among Consumers to Fuel the Market Growth |
Browse Summary of this Research Report:
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COVID-19 Impact:
Following the Initial Downfall, Market Sales Saw a Resurgence in 2021
Strict lockdowns worldwide as a result of COVID-19 and subsequent government regulations caused social isolation among consumers. In particular, consumers prefer to stock up on snacks such as these baked savory snacks at home. Convenient and on-the-go snacks frequently include baked snacks. As a result, sales in 2020, when the COVID-19 pandemic slowed down activity and caused many people to stay at home, were about ordinary.
In 2021, as restrictions were eased and people resumed their regular activities, the snack category witnessed a recovery. During the lockdown, the market’s operating companies also experienced revenue growth. For instance, Grupo Bimbo reports that 33% more savory snacks were purchased and 42% more consumers increased their snacking during quarantine.
Segments:
Chips & Crisps Segment to Experience Monumental Demand through 2029
The market is divided into chips & crisps, nuts & seeds, popcorn, and others based on product. Due to increased consumer demand for low-calorie, low-sodium, gluten-free, and fat-free snacks, to mention a few, the chips & crisps segment dominated the baked savory snacks market share.
Supermarkets & Hypermarkets Segment to Witness Maximum Sales during 2022-2029
The market is divided into convenience stores, supermarkets & hypermarkets, online retail, and others based on distribution channel. Customers now prefer to shop at supermarkets & hypermarkets as they provide a wide range of goods under one roof, from food and beverages to consumer goods.
Report Coverage
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- Recent industry developments include product launches, partnerships, mergers, and acquisitions.
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Drivers and Restraints
Rising Health Consciousness among Consumers to Boost Growth
Ancient grains are becoming more popular as they offer health advantages that influence consumer preference for grain consumption. More and more snack foods are using various grains such as malt and whole grains. The consumption of whole-grain snacks is fueling an increase in healthy eating habits, which is driving the market’s expansion. More whole grains are being consumed by consumers. Given that whole grains contain dietary fiber, protein, vitamins, and magnesium, eating whole-grain snacks is thought to reduce the risk of diabetes and cancer. These factors augment the baked savory snacks market growth.
Regional Insights
Asia Pacific to Thrive due to Improving Spending Capacity of Consumers
The Asia Pacific region dominated the market due to the rising production of healthy snacks in India, China, Japan, and Australia. The demand for sugar-free snack food is also rising as customers in Asia Pacific countries are becoming more health conscious. Consumers in the area love checking out a wide variety of things and have a wide range of tastes and interests.
The market for baked savory snacks in North America is anticipated to account for a sizeable percentage of the global market due to the growing trend of on-the-go consumption, which is driving the industry.
Competitive Landscape
Key Players Prioritize New Launches to Engage Wider Audiences
Key players in the market focus on new product launches. In addition, businesses are introducing new, cutting-edge products to gain a competitive edge and get greater consumer interest. For instance, in October 2022, Kellogg Co. unveiled two new breakfast bars with fresh fruit and vegetables as well as new snacks. The new soft-baked breakfast bars come in strawberry, apple, and carrot flavors and are produced using fruit and vegetable flavors.
Key Industry Development:
June 2021- General Mills, Inc. launched Good Measure, a novel snack food product for consumers who are concerned about blood sugar levels, including those with diabetes and prediabetes.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Overview of the Parent/Related Markets
- Supply Chain Analysis
- Industry SWOT Analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Analysis related to COVID-19
- Global Baked Savory Snacks Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product (By Value)
- Chips & Crisps
- Nuts & Seeds
- Popcorn
- Others
- By Distribution Channel (By Value)
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Retails
- Others
- By Region (By Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Product (By Value)
- North America Baked Savory Snacks Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product (Value)
- Chips & Crisps
- Nuts and Seeds
- Popcorn
- Others
- By Distribution Channel (Value)
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
- Others
- By Country (Value)
- U.S
- By Product (Value)
- Chips & Crisps
- Nuts & Seeds
- Popcorn
- Others
- By Product (Value)
- Canada
- By Product (Value)
- Chips & Crisps
- Nuts & Seeds
- Popcorn
- Others
- By Product (Value)
- Mexico
- By Product (Value)
- Chips & Crisps
- Nuts & Seeds
- Popcorn
- Others
- By Product (Value)
- U.S
- By Product (Value)
TOC Continued…!
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