FDBusiness.com

Global Savoury Snacks Market to Reach Over $138 Billion by 2020 as ‘Snackification’ Trend Grows

 Breaking News
  • Nestlé Inaugurates New Nescafé Dolce Gusto Production in Vietnam Nestlé has inaugurated a new Nescafé Dolce Gusto capsule production line in Dong Nai Province, Vietnam. The site will process an expected 2,500 tons of coffee per year (equivalent to 130 million capsules), using high quality coffee beans from Vietnam. This volume is expected to increase in the coming years. The investment reflects Nestlé’s clear focus on high-growth, [...]...
  • Pink Lemonade Yogurt? Arla Brings Indulgence to New Markets Arla Foods is to expand its successful Finnish brand, Ihana, into new markets with the premium yogurt range being launched in Denmark and the UK. Meaning ‘wonderful’ in Finnish, Ihana was launched through an extensive brand launch in 2016 in Finland with an iconic new design. Indulgence is one of the few areas in growth within [...]...
  • Process Components Announces Kemutec Expansion into Netherlands Process Components has announced the expansion of subsidiary company Kemutec in Europe, with the long-established manufacturing brand opening a new office in the Netherlands. The move forms a key part of its global strategy to extend its global territories, significantly grow its revenues and create new jobs. Kemutec has more than three decades’ worth of heritage in [...]...
  • Packaging Automation Supports the Reduction in Plastic Packaging Waste With the launch of the UK Plastics Pact to address the impact plastic waste is having on the environment, retailers and manufacturers are more conscious of single use and non-recyclable plastics and want to cater for the green consumer. The industry is turning to various kinds of eco-friendly packaging with the aim of reducing plastic [...]...
  • Glanbia Cheese Joint Venture to Build New €130 Million Mozzarella Cheese Facility Glanbia Cheese, the joint venture business between Glanbia plc and Leprino Foods, plans to build a new, world-class mozzarella cheese manufacturing facility in Portlaoise, County Laois, Ireland. A site for the new facility has been identified at the recently established Togher National Industrial Estate in Portlaoise. A total of €130 million will be invested in [...]...

Global Savoury Snacks Market to Reach Over $138 Billion by 2020 as ‘Snackification’ Trend Grows

Global Savoury Snacks Market to Reach Over $138 Billion by 2020 as ‘Snackification’ Trend Grows
September 14
12:36 2016

The global savoury snacks market will rise from US$94.5 billion in 2015 to US$138.2.billion by 2020, representing a compound annual growth rate (CAGR) of 7.9%, according to consumer insight firm Canadean. The company’s latest report states that such growth is expected to come mainly from developing countries in the Asia-Pacific and Eastern European regions, with CAGRs of 13.7% and 7.3%, respectively, while the Latin American region is expected to register a more moderate CAGR of 3.2%.

According to Rashmi Mahajan, Analyst for Canadean: “Rising urbanization levels and busier lifestyles are impacting the eating habits of consumers, who are increasingly replacing main meals with more flexible, light, and convenient snacking options. Changing consumer preferences and the growing trend of ‘snackification’, which represents a significant portion of everyday eating routines, is driving the demand for portable and on-the-go formats.”

Big opportunities exist in large, populous developing countries with low per capita consumption levels, such as China (0.8 kg of savoury snacks per person in 2015) and India (1 kg), compared to the high levels of consumption in developed countries such as the US (9.5 kg) and the UK (7 kg).

canadeancrispsCanadean’s analysis reveals that the health and wellness trend has impacted the eating habits of consumers in developed markets, who tend to base their snacking choices on nutritional value and quality. In this way, consumers are trading up and spending more on premium varieties of snacks. Consumers in emerging countries including Brazil, China and India, on the other hand, mostly base their snack choices on value and experimentation.

Rashmi Mahajan continues: “Despite the regional differences in snacks consumption, innovation in flavours remains an important differentiating factor globally, as consumers across all ages opt for products offering new and unusual consumption experiences. Examples include nacho chips in papdi chaat flavour in India, maize snacks in a tangy fruit chutney flavor in South Africa, popcorn in strawberry and cream flavour in the UK, and potato chips in chocolate chilli flavour in France.”

According to Canadean, the global savoury snacks market is highly fragmented, with the top five brands holding less than 16% market share. Lay’s, Doritos, Pringles, Cheetos, and Ruffles were the leading brands with the highest market share in 2015.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • September 5, 2018Int'l Food Products and Processing Technologies Exhibition (WorldFood Istanbul)
  • September 15, 2018iba
  • September 25, 2018PPMA Show 2018
  • September 27, 2018Int'l Fruit Show (eurofruit)
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements