The North America Baked Savory Snacks Market would witness market growth of 6.2% CAGR during the forecast period (2023-2030).
Salty and flavored snacks comprise baked savory snacks. It consists of various crackers & crisps, almonds & seeds, and popcorn. These items are wholly baked and are deemed healthful because they contain less oil and butter. The demand is increasing due to several benefits, like high energy, additional nutrients from a refreshment, specifically nuts and seeds, and appetite-suppressing to prevent excess at the following meal. The innovation of new baked products and increased demand for multigrain snacks are two further major drivers boosting market growth.
The rising demand for readily available and relatively inexpensive ingredients for savory snacks, mainly extruded corn-based snacks, is compelling manufacturers to invest significantly in this product segment. With new product innovations and developments such as multigrain crackers, companies have a tremendous opportunity to establish themselves as market leaders. To attract consumers' attention, manufacturers of delectable snacks have developed diverse product lines with new flavor profiles and configurations. The introduction of new products in appealing packaging is a sales promotion strategy.
A greater number of firms are also offering small/on-the-go consumption packets of bakery products due to a calorie deficit dietary preference. Grab-and-go bakery snacks are frequently chosen by consumers in North America because they satisfy their cravings on busy days or serve as a meal replacement due to their taste, health, and convenience. Additionally, Americans have evolved into a grazer nation that seeks out products that suit their mobile lifestyles and upscale preferences.
Due to the high proportion of women of working age in the United States and Canada, no family member is solely liable for domestic responsibilities. Due to this, American employees prefer to save time in the kitchen by purchasing ready-to-eat treats from supermarket shelves rather than preparing these foods themselves. This would expand the market in the future.
The US market dominated the North America Baked Savory Snacks Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $17,042 million by 2029. The Canada market is exhibiting a CAGR of 8.6% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 7.7% during (2023 - 2030).
Based on Product, the market is segmented into Chips & Crisps, Nut & Seeds, Popcorn and Others. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online Retail and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Baked Savory Snacks Market is Projected to reach USD 80.9 Billion by 2030, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Mills, Inc., Kellogg Company, Orkla ASA, PepsiCo, Inc., Chaucer Foods Ltd. (Pilgrim Food Group PLC), ITC Limited, The Hain Celestial Group, Inc., Amplify Snack Brands Inc (The Hershey Company), Consolidated Biscuit Co. Ltd, and Europe Snacks Group.
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