Northbrook, IL 60062 -- (SBWIRE) -- 07/29/2022 -- The Savory Snack Products Market size is estimated to be valued at USD 203.9 billion in 2022 and is projected to reach USD 263.0 billion by 2027, recording a CAGR of 5.2% during the forecast period in terms of value.

Changing work culture and lifestyles, due to the sudden impact of pandemic is promoting the savory snack products among consumers. Moreover, the savory snack products market is characterized by many organized and unorganized players across the globe.

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By product, potato chips was the largest segment in the global savory snack products market.

Potato chips are highly preferred among consumers due to their taste, low price, and easy availability. Over the years, the rise in consumption of potato chips and dynamic shifts in the consumption pattern have led key players in the market to innovate their products. These product portfolios now have newer product ranges and are expanding across the globe.

By flavor, spice is the second fastest growing segment in the global savory snack products market.

Spicy flavor plays an important role in the snacks food industry. Chili pepper in the spicy flavor category enhances the flavor—heat, pungency, warmth, and bite—and the color of prepared foods. For food manufacturers, these ingredients often come in an extract. As regional cuisines have become more globalized, consumer preference for foods that incorporate heat has increased significantly.

By distribution channel, the retail segment accounts for the largest share in savory snack products market in 2021

Retail stores offer various brands a wide range of savory snack products, enabling the consumers to compare and make an informed purchasing decision. Furthermore, retail stores can be attributed to the large shelf spaces available in supermarkets and the importance of impulse buying when buying a pack of savory snacks. Discount options and a wider variety of options have given the customers more value for money, resulting in consumers across the globe preferring shopping or getting groceries and snacks from offline retail stores.

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Key players in this market include PepsiCO (New York), Kellogg Co (US), General Mills Inc. (US), Calbee (Japan), ITC LIMITED (India), Mondelez International (US), Nestle SA (Switzerland), Grupo Bimbo (Mexico), Hain Celestial (US).

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