11 September 2018, The U.S. Savory Snacks Market size is anticipated to reach worth USD 49.37 billion by 2025, registering considerable growth over the forecast period. The U.S. is the largest consumer of savory snacks across the globe. Increasing working population along with rising disposable income of people is likely to provide a fillip to the market. Additionally, changing consumer taste preferences towards healthy food are estimated to stoke the growth of the market.
Increasing demand for indulgence flavors among consumers is one of the key drivers for te U.S. savory snacks market. The market is segmented into potato chips, processed chips, nuts & seeds, meat snacks, and others on the basis of type. The potato chips segment is expected to account for the leading share in the market throughout the forecast period. Nevertheless, the processed chips and nuts & seeds segments are projected to post significant CAGRs during the forecast period.
Until a few years ago, snacks were considered as break-time food. Whereas, in recent times, people eat snacks on a regular basis as an additional meal during the daytime. Gradually, people in the country have developed habit of eating snacks during movies, shows, short hauls, and work. This scenario is poised to fuel the consumption of savory snacks in the county. Additionally, factors such as increasing population, changing food culture, urbanization, and mounting demand from lower income groups are translating into a greater uptake of the product.
Distribution channels primarily include online and offline channels. Rising income levels and presence of many convenience stores, hypermarkets, supermarkets, and retail shops are tending people towards bulk purchases of savory snacks. Offline channels command a larger share in the market. Base of working population is increasingly expanding and people rely on time-saving products. Owing to busy work life, people are buying more convenient food items, thus boosting the demand for ready to eat meals and snacks.
There is a strong demand for a wide variety of snacks among the populace, which is encouraging companies to launch new and innovative snack items. Many players are continuously launching new products, experimenting with their shape, flavor, and taste, in order to meet the industry demand and satisfy palate expectations of consumers. Moreover, increase in research and development activities in the field for offering new and healthy flavors to consumers coupled with availability of a wide variety of existing flavors are helping the market gain tremendous traction.
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The U.S. savory snacks market is highly fragmented with presence of several large and small players dealing in the industry. Some of the major players operating in the market are PepsiCo Foods; McCain Foods; Lamb Weston Holdings, Inc.; Kellogg Co.; and Calbee North America. Industry players are largely involved in mergers and acquisitions and introduction of new and innovative products to enlarge company’s product portfolio and consolidate their position in the market.
Hexa Research has segmented the U.S. savory snacks market report based on type and distribution channel
Segmentation by type, 2015 – 2025 (USD Billion)
• Potato chips
• Processed chips
• Nuts & seeds
• Meat snacks
Segmentation by Distribution Channel, 2017 (% share)
Key players analyzed
• PepsiCo Foods
• McCain Foods
• Lamb Weston Holdings, Inc.
• Kellogg Co.
• Calbee North America
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