Baked Savory Snacks Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Baked Savory Snacks Market is segmented By Product Type (Potato Chips, Popcorn, Pretzels, Savory Biscuits, Tortilla Chips, Others), By Distribution Channel (Supermarkets/Hypermarkets, Speciality Stores, Online Sales, Others), By Region (North America, Europe, South America, Asia Pacific, Middle East, And Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Baked Savory Snacks Market Size

Global Baked Savory Snacks Market reached USD 48.3 billion in 2022 and is expected to reach USD 77.5 billion by 2030 growing with a CAGR of 6.1% during the forecast period 2024-2031. The global baked savory snacks market is expected a significant growth in the coming years. This snack demand is being driven by changing consumer preferences, increasing health consciousness, and the availability of a wide range of product varieties.

The growing awareness about the health benefits associated with consuming baked savory snacks, such as reduced fat content and higher fiber content, is influencing consumer purchasing decisions. As consumers become more conscious of their overall well-being, they are opting for snacks that offer a balance between taste and health which further drive the baked savory snacks market.

Baked Savory Snacks Market Scope

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Baked Savory Snacks Market Dynamics

Growing Preference for Healthier Snacking Options Among Consumers Drives Market Growth

The baked savory snacks market is experiencing a surge in demand due to the growing preference for healthier snacking alternatives. Consumers are actively seeking snacks that are lower in fat, calories, and artificial additives. Baked savory snacks, being perceived as a healthier option compared to fried snacks, are witnessing increased consumption, which further drives market growth.

Manufacturers are innovating and introducing a wide range of baked savory snacks to cater to the demand for healthier snacking options. For instance, on May 26, 2023, Reliance Consumer Products Limited entered the Western snack food category in India by introducing Alan's Bugles. Alan's Bugles is an internationally renowned corn chip brand owned by General Mills. The product will be available in two flavors, Original and Tomato & Cheese, offering a delightful snacking experience.

Increasing Demand for Convenience and On-The-Go Consumption Products Drive Baked Savory Snacks Market Growth

Baked savory snacks provide a convenient and portable snacking option for consumers. They are often available in individual portions, resealable packaging, or snack-sized formats, making them suitable for on-the-go consumption. This convenience factor appeals to consumers looking for quick and easy snack choices, thus driving market growth.

Manufacturers are introducing a diverse range of baked savory snack options to cater to the demand for convenience and on-the-go consumption. For instance, on February 26, 2023, Kerala Blasters FC made an entry into the fast-moving consumer goods market with the launch of their new line of banana chips. Branded as Kravin', these banana chips mark the club's first direct-to-consumer venture in the FMCG sector. The launch of Kravin' took place, introducing football enthusiasts and consumers to a delicious and high-quality offering in the banana chips category.

Increasing Competition from Other Snack Products Hamper the Market Growth

The availability of a wide range of snack products creates competition for baked savory snacks. Consumers have diverse preferences and opt for different snack categories, such as fried snacks, sweet snacks, or healthier alternatives. This competition makes it essential for baked savory snacks to effectively position themselves and differentiate their offerings to attract and retain consumers.

The snack market as a whole can become saturated with various product options. With multiple players vying for consumers' attention, there can be a saturation point where the demand for baked savory snacks faces limitations. This saturation can restrain market growth as consumers have a plethora of alternatives to choose from.

Market Segment Analysis

The global baked savory snacks market is segmented based on product type, distribution channel, and region.

Increasing Demand for Convenience, Crispy Texture Potato Chips

Potato chips held the largest share of the global baked savory snacks market. Potato chips have a broad consumer appeal and are enjoyed by people of all ages and demographics. Its crispy texture, savory flavor profiles, and convenience make them a popular choice for snacking. Its accessibility and widespread distribution contribute to its market dominance.

Manufacturers are also introducing unique and innovative potato chip variants, such as flavored chips, kettle-cooked chips, or baked chips, to attract consumers and drive market growth. For instance, on August 4, 2022, PepsiCo India introduced its premium potato chips brand, Lay's Gourmet, in the Indian market. With the launch of Lay's Gourmet, the brand aligns with its strategy of offering a diverse range of innovative and delightful snack options to consumers.

Market Geographical Share

Increasing Demand for Sugar-Free Snacks in Asia Pacific

The Asia Pacific region is a dominant player in the baked savory snacks market. A growing number of consumers in Asian countries are adopting a health-conscious approach, leading to a surge in demand for sugar-free snack food products. Prompting manufacturers to continuously expand and innovate their product portfolios to cater to their evolving needs With diverse interests and tastes, consumers in the region are eager to explore renowned products.

For instance, in February 2022, Dabur India expanded its Real Health sub-brand, introducing new product offerings such as value-added party snacks and dried fruit under the Real Health line. Furthermore, the rising focus on healthy living in Japan and China has resulted in an increased demand for gluten-free products, further fueling the market growth in the region.

Market Key Players

The major global baked savory snacks market players include General Mills Inc., Kellogg's Company, Orkla ASA, Consolidated Biscuit Co. Ltd., Europe Snacks, PepsiCo, Inc., Chaucer Foods Ltd., Lorenz Bahlsen Snack-World GmbH & Co KG Germany, Hain Celestial, and Amplify Snack Brands Inc.

COVID-19 Impact on Baked Savory Snacks Market

The pandemic disrupted global supply chains, affecting the production, distribution, and availability of baked savory snacks. Restrictions on transportation, labor shortages, and temporary closures of manufacturing facilities and distribution channels led to supply chain disruptions. These disruptions, in turn, affected the market's ability to meet consumer demand. 

However, the pandemic has significantly influenced consumer behavior and preferences. With lockdowns, social distancing measures, and work-from-home arrangements, there has been a shift in snacking patterns. Consumers are spending more time at home, leading to increased demand for snack options. 

Artificial Intelligence Impact Analysis

Artificial intelligence (AI) plays a crucial role in product development and innovation in the baked savory snacks market. With AI-powered analytics and machine learning algorithms, manufacturers can analyze consumer preferences, market trends, and sensory data to develop new flavors, textures, and ingredient combinations. AI helps identify gaps in the market and enables the creation of innovative baked savory snack products that align with evolving consumer demands.

AI-driven demand forecasting models help manufacturers optimize their production and inventory management processes. By analyzing historical sales data, market trends, and external factors, AI algorithms can accurately predict consumer demand for baked savory snacks. This allows manufacturers to efficiently manage their inventory, reducing wastage and ensuring that popular products are readily available in the market.

By Product Type

• Potato Chips
• Popcorn
• Pretzels
• Savory Biscuits
• Tortilla Chips
• Others

By Distribution Channel

• Supermarkets/Hypermarkets
• Speciality Stores
• Online Sales
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On September 22, 2022, The Kellogg Company partnered with Mackie Foods Corporation to introduce a new product called Kellogg's Little Debbie Nutty Buddy Cereal. This collaboration marks the third joint venture between the two companies, based in Chattanooga, Tennessee. 
• On April 14, 2021, Poppy, the popcorn brand, expanded its snacks product portfolio by introducing a new line of BBQ-inspired flavors. The four additions to their BBQ series include honey BBQ popcorn, Carolina vinegar-based popcorn, Kansas City BBQ popcorn, and Texas BBQ popcorn. 
• On July 1, 2021, PepsiCo expanded its healthier snacking portfolio in Europe, focusing on providing consumers with more nutritious options. The company achieved remarkable growth by increasing sales of snacks rated as "B" or better according to Nutri-score. This significant tenfold increase reflects PepsiCo's commitment to offering healthier snack choices.

Why Purchase the Report?

• To visualize the global baked savory snacks market segmentation based on product type, distribution channel, and region, as well as understand key commercial assets and players. 
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of the baked savory snacks market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global baked savory snacks market report would provide approximately 53 tables, 51 figures, and 104 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies