Savory snacks are crunchy junky food which includes potato chips, popcorn, tortilla chips, corn chips, etc. Manufacturers are switching to alternative vegetable oils such as corn & olive, rapeseed, and sunflower which are lower in saturated fat.
Increasing consumer preferences towards healthy snacks are estimated to drive the savory snacks market growth over the forecast period. The manufacturers have changed manufacturing methods and also altered contents in snacks due to growing health concerns among the consumers.
However, several regulations regarding the manufacturing of savory snacks across various regions is one of the major factor hampering the production of savory snacks. The manufacturers are spending heavily on research as development to meet the food standards of various regions.
Product segment includes potato chips, nuts & seeds, extruded snacks, popcorn, and others. Extruded snacks are estimated to be fastest growing application segment in the global savory snacks market. Growing demand for healthy snacks coupled with benefits related to extruded snacks as it provides vitamins and nutrients to the body are major factors boosting the demand for extruded snacks over the forecast period.
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Based on the region the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in the Asia Pacific is estimated to be fastest growing region. Increasing demand for savory snacks by countries namely India, China, and Japan is expected to fuel the market growth in the region. Changing lifestyle and increasing disposable income of the people is expected to drive the market growth over the forecast period. North America is estimated to account the major share of the market. Consumers in these countries are preferring healthy foods on account of growing concerns of obesity.
Key players operating in the global savory snacks market include Kraft Foods, Conagra Brands, Inc., PepsiCo, Inc., Calbee Foods Co Ltd., Intersnack Gmbh & Co, Mondelez International Inc., Blue Diamond Growers, General Mills Inc., Lamb Weston Holdings, Inc., and The Hain Celestial Group.