Asia Pacific Savory Snacks Market By Product (Extruded Snacks, Potato Chips, Popcorn, Nuts & Seeds, and Other Products), By Distribution Channel (Retailers, Online, Supermarket/Hypermarket, Convenience Stores and Other Channels), By Flavor (Barbeque, Spice, Beef, Roasted/Toasted and Others), By Country, Growth Potential, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific Savory Snacks Market would witness market growth of 8.43% CAGR during the forecast period (2021-2027).
Consumers tend to invest in healthy food products as they are becoming more conscious of their eating habits. Innovative sugar-free products are being produced by the food & beverage industry as there is a rising threat of diabetes across the globe. The savory snacks market is expected to be fueled by the high availability of various kinds of flavors along with a surge in the disposable income of the consumers in the Asia Pacific region.
The observed restrictions for savory snacks market are nutrient level labeling and food authorizations criteria, which are being administered by the growing opportunities of natural seasoned dietary and variants of flavoring fueling the market growth. To overcome these obstacles, distribution channels and factors of circulation available to augment the availability of the goods, would fuel the market growth.
One of the pressing concerns among the major countries of this region is the growing rate of obesity. Due to the high consumption of fast foods among children as well as adults, the rate of obesity is constantly surging in different parts of the region. For example, India and Vietnam have the lowest occurrences of obesity in the Asia Pacific while Malaysia has witnessed the largest prevalence of obesity in the region. Thus, consumers in the region are highly inclined towards savory snacks as they are nutritious and low-calorie products.
Snacking industry is one of the booming industries in recent years and has witnessed a spur in the demand for snacking products in India. In the last couple of years, many market players in the region are coming up with healthy snacking options for the Indian population. Popcorn is a healthy and nutritious option over chips and cookies. It is also considered as a cost-friendly, easy-to-prepare, and crucial component of the entertainment and snacking experience. These factors would augment the demand for healthy products in the next few years.
The China market dominated the Asia Pacific Roasted/Toasted Market by Country 2020, thereby, achieving a market value of $5,394.8 million by 2027. The Japan market is showcasing a CAGR of 7.2% during (2021 - 2027). Additionally, The India market is poised to grow at a CAGR of 8.8% during (2021 - 2027).
Based on Product, the market is segmented into Extruded Snacks, Potato Chips, Popcorn, Nuts & Seeds, and Other Products. Based on Distribution Channel, the market is segmented into Retailers, Online, Supermarket/Hypermarket, Convenience Stores and Other Channels. The report also covers geographical segmentation of Savory Snacks market. Based on Flavor, the market is segmented into Barbeque, Spice, Beef, Roasted/Toasted and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include The Hain Celestial Group, Inc., PepsiCo, Inc., Campbell Soup Company, Arca Continental SAB de CV, Kellogg Company, General Mills, Inc., The Kraft Heinz Company, Conagra Brands, Inc., ITC Limited, and Kikkoman Corporation
Scope of the Study
Market Segments Covered in the Report:
- Extruded Snacks
- Potato Chips
- Nuts & Seeds
- Other Products
By Distribution Channel
- Convenience Stores
- Other Channels
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- The Hain Celestial Group, Inc.
- PepsiCo, Inc.
- Campbell Soup Company
- Arca Continental SAB de CV
- Kellogg Company
- General Mills, Inc.
- The Kraft Heinz Company
- Conagra Brands, Inc.
- ITC Limited
- Kikkoman Corporation
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