Global Baked Savoury Snacks Market to Grow at a CAGR of 4.10% During 2024-2032, Aided by the Growing Trend of Snacking

The growing trend of snacking in both developed and developing countries is bolstering the market for baked savoury snacks. The increasing interest in healthy and quality baked savoury snacks by the rising health-conscious population is prompting leading companies to launch innovative savoury snacks with excellent nutrition and flavour profiles. Moreover, the surging demand for comfort food, especially in the wake of the COVID-19 outbreak, is increasing the consumption of baked savoury snacks. With the rising consumer interest in trying new sensory experiments, the demand for innovative baked savoury snacks with bold aroma, flavour, texture, and colour is significantly growing. Furthermore, the market growth of baked savoury snacks can be attributed to the rising demand for convenience food products, the growing trend of mindful snacking, and the surging popularity of high-protein snacks.

General Mills, Inc., (NYSE: GIS), one of the leading companies in the market, launched Pipoca Pronta, a ready-to-eat popcorn line, in Brazil through its Yoki brand in January 2022. The product line offers consumers with enhanced convenience of immediately consuming popcorn anywhere and anytime. It is available in two sizes, 58 grams and 28 grams, while containing only 37 calories per cup. The launch resonates with the increasing interest of Brazilian consumers to access convenient, practical, natural, healthy, and tasty snacking options. Moreover, the launch boosts the company’s ready-to-eat food category while reinforcing its role in the Brazilian popcorn industry. Thus, the increasing launches of such innovative baked savoury snacks by the leading companies are expected to provide impetus to the market growth in the forecast period.

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Market Analysis by Product Type, Distribution Channel, Application, and Region:

• The market, on the basis of product type, can be divided into popcorn, savoury biscuits, potato chips, pretzels, extruded snacks, and tortilla snacks, among others.

• Based on distribution channels, the market can be divided into supermarkets or hypermarkets, convenience stores, speciality stores, and online retail, among others.

• The major applications of baked savoury snacks include household and commercial, among others.

• The regional markets for baked savoury snacks include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The growing availability of baked savoury snacks with attractive discounts, the increasing internet penetration, the rising working population, and the surging willingness of consumers to explore new and innovative food products are fuelling the market’s expansion.

• The market is being aided by the robust growth of the online retail industry, which, in turn, is boosting the accessibility of baked savoury snacks.

• The growing preference for on-the-go snacks, especially by the young population, is propelling the market growth.

• With the increasing health-consciousness, the demand for baked savoury snacks with low sugar content and enhanced nutrition profile is surging, which is driving the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for baked savoury snacks for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the product types, distribution channels, applications, and major regions of baked savoury snacks.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global baked savoury snacks market are General Mills, Inc., ITC Limited, PepsiCo Inc., Conagra Brands, Inc., Lorenz Bahlsen Snack-World GmbH & Co KG, Chaucer Foods Ltd., and Amplify Snack Brands, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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