Global Baked Savory Snacks Market to Reach USD 83,142.34 Million by 2030 | CAGR of 6.8%
Category : Food And Beverages | Published Date : Nov 2024 | Type : Press Release
Baked Savory Snacks Market Scope & Overview:
As per the Consegic Business Intelligence newly published report, the Baked Savory Snacks Market size was valued at USD 49,534.51 Million in 2022 and is projected to reach USD 83,142.34 Million by 2030, growing at a CAGR of 6.8% from 2023 to 2030. Baked savory snacks consist of a wide range of products that are baked rather than fried, offering healthier alternatives to traditional snacks. They cater to consumers seeking nutritious, low-calorie, and low-fat food options that align with healthier lifestyles. The increasing consumer shift towards convenient and packaged food options, along with the rising demand for plant-based and gluten-free snacks, drives the market growth.
The report comprises the Baked Savory Snacks Market Share, Size & Industry Analysis, By Product Type (Biscuits, Cookies, Crackers, Muffins, Pretzels, Popcorn, Others), By Distribution Channel (Offline (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Others), Online (E-commerce, Company-Owned Websites)), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2023-2030.
The report contains detailed information on Baked Savory Snacks Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profiles, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
The growing consumer preferences for packaged and healthy snacks and increased demand for gluten-free and low-calorie snacks are key drivers of market growth, while the limited shelf life of baked savory snacks may act as a restraint.
Segmental Analysis :
By product type, the market is segmented into biscuits, cookies, crackers, muffins, pretzels, popcorn, and others.
- Crackers dominated the market with a share of 25.50% in 2022, driven by their wide range of flavors, low-fat content, and suitability for health-conscious consumers. Saltine crackers, in particular, are popular for their low-calorie benefits, making them ideal for consumers with specific dietary needs.
- Popcorn is expected to register the fastest CAGR over the forecast period, driven by the growing demand for flavored popcorn varieties such as caramel, chocolate, cheese, and kettle corn, which offer multiple health benefits, including being rich in antioxidants.
By distribution channel, the market is classified into offline and online channels.
- Offline distribution channels, including supermarkets, convenience stores, and specialty stores, accounted for the largest share in 2022, driven by the personalized shopping experience, allowing consumers to physically examine and select products.
- Online channels are expected to grow at the fastest rate, owing to the convenience of home delivery, price comparisons, and the rising popularity of e-commerce platforms.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- Asia-Pacific held the largest market share at 38.05% in 2022, driven by the increasing production of healthy snacks in countries such as China, India, Japan, and Australia. The region's growth is further supported by a rising middle-class population and increasing health awareness.
- Europe is expected to witness the fastest growth, with a CAGR of 7.3%, due to increasing consumer demand for healthy snacks and innovations in ready-to-eat meal options, particularly in the U.K. and Spain.
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 83,142.34 Million |
| CAGR (2023-2030) | 6.8% |
| By Product Type | Biscuits, Cookies, Crackers, Muffins, Pretzels, Popcorn, Others |
| By Distribution Channel | Offline (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Others), Online (E-commerce, Company-Owned Websites) |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The baked savory snacks market is highly competitive, with several large players and numerous small and medium-sized enterprises. Companies are investing in research and development and expanding product offerings to meet the growing demand for healthy and innovative snacks.
List of prominent players in the Baked Savory Snacks Industry:
- Kellogg's Company
- Orkla
- Europe Snacks
- PepsiCo
- Chaucer Foods Ltd
- Hain Celestial
- Amplify Snack Brands
- Mondelez International
- General Mills, Inc.
- Cornitos (Greendot Health Foods Pvt. Ltd.)
Recent Industry Developments :
- In January 2022, Mondelez International completed the acquisition of Chipita Global S.A., expanding its product portfolio with a wide range of baked savory snacks.
- In September 2022, Kellogg's partnered with McKee Foods Corp. to launch a new cereal containing flavors of chocolate and roasted peanut butter, aiming to enhance its offering of healthier breakfast options.
