The North America Savory Snacks Market would witness market growth of 6.58% CAGR during the forecast period (2021-2027).
Ingredients such as cereal grains, vegetable oils, fruits & vegetables, nuts, and seasonings are used in the production of savory snacks. Mainly fried or baked savory snacks are offered by food processors. Consumers globally have a great liking towards savory snacks such as salted biscuits, nuts & seeds, cookies, and chips. The major tendency of the consumers is towards the consumption of savory snacks. The growth of the savory snacks market growth would witness bright prospects due to increasing awareness regarding health benefits among consumers. Even obese and diabetic patients can have savory snacks as they are low in calories and are gluten-free.
The millennium community is shifting towards dynamic food practices which eventually result in the growth of the savory snack industry. The production of unnatural and counterfeit food products has gone down due to the shift of consumers towards these natural and organic snack meals, thereby making it highly suitable for the consumers. The growth of the global savory snacks market would be fueled by the increment in the per capita income of the individuals across the globe.
The outbreak of the COVID-19 pandemic has wreaked havoc on mankind. It also brought disruptions in the major industries and businesses. However, the North American savory snacks market has not been adversely impacted by the global pandemic. Many restrictions such as stay-at-home culture and total lockdown have been imposed across this region in order to reduce the transmission rate. Due to this scenario, the demand for comfort food like savory snacks has witnessed a huge spike in the region.
Along with these factors, due to the shutdown of major restaurants in many parts of the U.S. and Canada, consumers have decided to consume snacks along with the regular three meals and even during meals, thereby fueled the demand & consumption of these food products and ingredients. These factors would prove to be beneficial for the growth of the regional savory snacks market.
The US market dominated the North America Popcorn Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3,093.1 million by 2027. The Canada market is experiencing a CAGR of 10.8% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 9.8% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Savory Snacks Market is Estimated to Reach USD 171.9 Billion by 2027 at a CAGR of 7.5%
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
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