Global Savory Snacks Report; Analysis of opportunities offered by high growth economies

Global Savory Snacks Report 

Global Savory Snacks Market: Set to grow driven by increasing urbanization levels and growing demand from developing countries

Increasing levels of urbanization and busier lifestyles have boosted the consumption of Savory Snacks, as consumers are increasingly replacing their main meals with more flexible, light, and convenient snacking options. The growing trend of fresh, less processed, regional flavors reformulated with healthy ingredients will continue to appeal to consumers.

Savory Snacks Industry Overview

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Growth Drivers

  • The growth in global Savory Snacks market will be driven by Asia Pacific region, which is projected to grow at a CAGR of13.7% during 2015-2020, driven by high population growth
  • Rising urbanization levels and increased women workforce will boost the growth of Savory Snacks suitable for on-the-go consumption

Processed Snacks is the largest category accounting with 36.5% share of the global Savory Snacks market in 2015

Latest Developments

  • Big opportunities exists in large populous developing countries with low per capita consumption levels (China: 0.8kg, India:1.0kg) compared to the high levels of developed countries (US: 9.5kg, UK: 7 kg))
  • Increasing health consciousness spurs the growth of portion control and reformulated Savory Snacks such as those with naturally low salt or fat content
  • The growing trend of ‘snackification’, which represents a significant portion of everyday eating routines, is driving the demand for portable and on-the-go formats

Future Inhibitors

  • Economic uncertainty (such as in South Africa), and the slowdown in demand from China will continue to impact global growth in value terms as consumers tend to move away from premium  products
  • Political instability such as in Syria is creating logistical problem for Snacks manufacturers in Turkey

The unorganized and fragmented retail market in developing countries, along with a poor distribution network and infrastructure, will hinder growth

Canadean’s latest report on the Savory Snacks market – Global Savory Snacks Report; Analysis of opportunities offered by high growth economies provides insights on high growth categories to target, trends in the usage of packaging materials, types and closures category level distribution data and brands market shares.

Report Information:
Price:
$3,450 (Single User License)
Published: Aug 2016
Publisher: Canadean
Report Format: electronic pdf

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