Global Savory Snacks Market 2015-2019 research report observes replacement of meals by snacks as one of the major trends in this industry with growing number of breakfast skippers being large target audiences for this market. In addition, the increasing consumption of snacks for social gatherings and celebrations has become a trend in the market.
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The inclusion of different ingredients in different snacks categories has impacted the product choice of consumers. The analysts forecast global savory snacks market to grow at a CAGR of 4.34% to reach USD 125 billion over the period 2014 – 2019. To calculate the market size, the report considers revenue generated through the retail sales of various savory snacks, including Potato chips, Extruded snacks, Nuts and seeds, Traditional snacks, Popcorn, Pretzels, Meat snacks and other savory snacks.
The growing organized retail business has also contributed significantly to the market growth. For instance, Walmart accounted for the largest established retailer in North America and has contributed around 12% of PepsiCo’s net revenue in this region. The potato chips were the largest contributors to the global sales of savory snacks and are expected to lead the global market until the end of the forecast period. This segment is expected to reach around USD 36 billion by the end of 2019. The increasing per capita consumption in the developed regions like North America and Europe is driving the growth of this segment.
According to the report, APAC was the second largest region and will grow at the highest CAGR during the forecast period. This region is likely to chase North America in the near future. Japan, China, and India are the three major markets in this region. The growing middle class along with their increasing disposable income is the major market growth driver. Their snacks are made with different flavors to capture the region specific taste preferences. For instance, in North America, some of the flavors provided by PepsiCo are Sour Cream & Onion, Barbecue, and Hidden Valley Ranch. Order a copy of Global Savory Snacks Market – Market Research 2015-2019 report @ http://www.sandlerresearch.org/purchase?rname=46239.
The global savory snacks market is highly fragmented due to the presence of large and small vendors. During 2014, the leading vendors contributed nearly 30% of the global revenue. The market is predicted to witness a number of mergers and acquisitions during the forecast period. the key players in the global savory snacks market are PepsiCo, Calbee Foods, ConAgra, General Mills and Kellogg. The other prominent vendors in the market are: Arca Continental, Blue Diamonds Growers, Haldiram, ITC, JFC, Mondelez, Oberto Sausage, Universal Robina, and Want Want.
Further, the savory snacks market report states that the major obstacles faced by the leading players include global assortment and distribution. With the presence of many local and regional players the competition is very high in some regions such as APAC and MEA. An increasing obese population is also a concern for this market.
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