According to the report by Expert Market Research (EMR), the global baked savoury snacks market is projected to grow at a CAGR of 4.10% between 2024 and 2032. Aided by the growing consumer inclination towards healthier snacking options and the increasing demand for convenient, ready-to-eat foods, the market is expected to witness significant growth by 2032.
Baked savoury snacks, including crackers, chips, biscuits, and pretzels, have gained popularity due to their healthier perception compared to fried snacks. These snacks offer a variety of flavors and textures, catering to diverse taste preferences and dietary requirements. The rising health consciousness among consumers, coupled with the increasing prevalence of lifestyle diseases such as obesity and diabetes, has driven the demand for baked savoury snacks as they are often perceived as a healthier alternative to traditional fried snacks.
The urbanization boom and the consequent fast-paced lifestyles have significantly contributed to the market’s growth. As consumers increasingly seek quick, convenient, and healthy snack options, baked savoury snacks have become a popular choice. The growing trend of snacking between meals and the rising preference for on-the-go food options have further propelled the demand for these products.
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Another key factor driving the market is the continuous innovation in product offerings. Brands are heavily investing in research and development to introduce new and unique flavors, ingredients, and packaging solutions that appeal to modern consumers. The advent of organic, gluten-free, and non-GMO baked savoury snacks has attracted a broader consumer base, including health-conscious individuals and those with dietary restrictions.
The increasing retail presence of baked savoury snacks, both in physical stores and through e-commerce platforms, has also given a significant boost to the market. The ease of access to a wide variety of products, along with strategic marketing campaigns and promotional offers, has bolstered sales. Furthermore, collaborations with popular food bloggers and influencers have enhanced brand visibility and consumer engagement.
Going forward, the market is poised for robust growth. However, players in the industry must address the challenges related to ingredient sourcing, product shelf life, and packaging sustainability. By focusing on innovation and sustainability, brands can cater to the evolving preferences of conscious consumers, ensuring sustained growth and relevance in the market. Collaborations with local producers and the introduction of region-specific flavors can also present lucrative opportunities for market expansion.
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Market Segmentation
The market can be divided based on type, distribution channel, and region.
Market Breakup by Type
- Chips: Potato Chips, Tortilla Chips, Vegetable Chips, etc.
- Crackers: Saltine Crackers, Graham Crackers, etc.
- Biscuits: Cheese Biscuits, Herb Biscuits, etc.
- Pretzels: Hard Pretzels, Soft Pretzels, etc.
- Others: Popcorn, Rice Cakes, etc.
Market Breakup by Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retailers
- Specialty Stores
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report examines the market shares, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global baked savoury snacks market. Some of the major players explored in the report by Expert Market Research are as follows:
- PepsiCo, Inc.
- Kellogg Company
- Mondelez International, Inc.
- General Mills, Inc.
- Calbee, Inc.
- Conagra Brands, Inc.
- Grupo Bimbo S.A.B. de C.V.
- The Hain Celestial Group, Inc.
- Intersnack Group GmbH & Co. KG
- Lorenz Snack-World
- Others
Market Dynamics
Drivers
- Health Consciousness: The increasing awareness regarding the health risks associated with fried snacks has led consumers to opt for baked alternatives. The perception of baked snacks being healthier, coupled with the rising incidence of obesity and other lifestyle diseases, has significantly boosted the market.
- Convenience: The fast-paced urban lifestyle has increased the demand for convenient, ready-to-eat food products. Baked savoury snacks fit this demand perfectly, offering a quick and easy snacking solution for busy consumers.
- Product Innovation: Continuous innovation in flavors, ingredients, and packaging has attracted a wider consumer base. The introduction of new and unique flavors, along with healthier options such as gluten-free, organic, and non-GMO snacks, has further driven market growth.
- E-commerce Growth: The rise of e-commerce platforms has made it easier for consumers to access a wide variety of baked savoury snacks. The convenience of online shopping, coupled with strategic marketing campaigns and promotional offers, has bolstered sales.
Restraints
- Ingredient Sourcing: The sourcing of high-quality, natural ingredients can be challenging, particularly for brands focusing on organic and non-GMO products. The high cost of these ingredients can also impact profit margins.
- Shelf Life: Ensuring the long shelf life of baked savoury snacks without compromising on quality and taste is a significant challenge. This is particularly true for products that do not contain preservatives.
- Packaging Sustainability: The increasing consumer preference for sustainable packaging solutions presents a challenge for manufacturers. Developing eco-friendly packaging that maintains product freshness and quality can be cost-intensive.
Opportunities
- Emerging Markets: The growing middle-class population and increasing urbanization in emerging markets present significant growth opportunities. Brands can capitalize on the rising demand for convenient and healthy snack options in these regions.
- Health and Wellness Trends: The growing trend towards health and wellness provides an opportunity for brands to introduce innovative, health-focused products. The development of snacks with added nutritional benefits, such as high-protein or low-sodium options, can attract health-conscious consumers.
- Local and Regional Flavors: Introducing snacks with local and regional flavors can cater to the diverse taste preferences of consumers in different regions. Collaborating with local producers and using region-specific ingredients can enhance product appeal.
The global baked savoury snacks market is poised for significant growth over the forecast period, driven by the increasing demand for healthier and convenient snack options. Continuous innovation in product offerings, coupled with strategic marketing initiatives and the expanding retail presence, will further propel market growth. However, addressing challenges related to ingredient sourcing, product shelf life, and packaging sustainability will be crucial for sustained growth. By focusing on innovation, sustainability, and regional preferences, market players can capitalize on the evolving consumer trends and ensure long-term success in the global baked savoury snacks market.
