Sweet and savory snacks market size was valued at USD 155 billion in 2019, is anticipated to expand at a CAGR of 6.17% in terms of value during the forecast period.
Infinium Global Research Analysts
Global Sweet and Savory Snacks Market: Consumer Behavior Analysis by Countries, Buying Pattern Analysis, Demographics, Trends Analysis, Survey Findings and Results, Leading Companies and their Market Strategies
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Published : May, 2020
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Rep Id : GSSSM1852020
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No. of Pages : 185
Infinium
Global Research and Consulting Solutions has published a comprehensive research
study based on a survey conducted to analyze the buying patterns, consumer
behavior and impact of pricing on buying decisions. The report also provides
insights into the marketing strategies and steps taken by the companies to
retain their market position in the local as well as global market. The study
also provides insights into the factors affecting the buying decisions,
consumer preferences, and the demographic factors promoting the growth of the products
of the global sweet and savory snacks market.
The
global sweet and savory snacks market size was valued at USD 155 billion in
2019 and is anticipated to expand at a CAGR of 6.17% in terms of value during
the forecast period. Sweet and savory snacks are a solution to the various
needs of modern consumers, and they use it between meals or as their
replacement. The major players in the market are branching out from original
recipes and introducing line extensions that deliver attractive ingredients,
flavors, and textures to consumers looking for new experiences or alternative
ingredients for health reasons. The products such as popcorn chips, nut flour
crackers, and jerky prepared from non-meat resources on store shelves. A number
of the retail outlet's grocery stores, convenience stores, warehouse club
stores, and roadside vendors are tantalizing consumer’s taste buds. It makes
good business sense to have snacks always at the ready and within arm’s reach
as many snack purchases are unplanned.
Rising
Demand for Nutritious Snacks Augments the Growth of the Global Sweet and Savory
Snacks Market
Nutrition
really is the key to a healthy lifestyle and a healthy life. Rising demand for
nutritious snacks is driving the demand for sweet and savory snacks as it is
lowering the risk for heart disease and improving overall health. Other
benefits of choosing nutritious snacks are they packed with nutrients,
vitamins, and minerals that will fuel the body and keep blood sugar levels
steady. It plays a vital role in maintaining a healthy diet and helps to manage
hunger in between meals and keep blood sugar at proper levels. Nutritious sweet
and savory snacks improve overall health, curb cravings, fights weight gain,
regulates mood, enhances brainpower, and gives the energy required to keep going
all day.
The United States, Germany, and China Among Top Markets for
Sweet and Savory Snacks
Figure 1 Global Sweet and Savory Snacks Market by Country, 2019 (Revenue % Share)
Source: Infinium Global Research Analysis
The U.S. is the largest sweet and savory snacks consuming nation as it holds more than 60% market share of North America sweet and savory snacks market and approximately 20% market share of global sweet and savory snacks market. The consumers increasingly prefer snacks with high-protein content and low-calorie count that are driving the demand for sweet and savory snacks in the united states. China represents the market of growth for product developers with the nations’ booming populations, rising disposable incomes, convenience-demanding lifestyles, and the increase of western influences in their daily lives. Germany also holds a significant market share in the global sweet and savory snacks market by country. The long-term rise in snacking on-the-go and rise in snacking between meals is increasing demand in Germany.
Figure 2 Importance of Factors
Source: Infinium Global Research Analysis
Infinium Global Research and Consulting Solutions has published a comprehensive research study based on a survey conducted to analyze the buying patterns, consumer behavior, and consumer preferences. the above figure shows the importance of given factors for the consumer of sweet and savory snacks. taste variety and quality are extremely important factors for the consumer while quantity and price are important factors for the consumer. there are several consumers who do not give importance to the packaging, variety, and price as they focus on the taste and quality.
Among the regions, North America dominates the global sweet and savory snacks market. It holds more than 30% market share of the global sweet and savory snacks market. The U.S. is the largest consumer of sweet and savory snacks as it holds approximately 20% market share of the global sweet and savory snacks market? The high disposable income of consumers due to modernization and widening base of working personnel is primary growth stimulants for the North America sweet and savory snacks market. Europe is a second-largest market for sweet and savory snacks followed by the Asia Pacific. Factors attributable to the growth of the European snack products are the evolving lifestyle and changing dietary habits in this region.
Research Methodology
Primary Research
Our primary research involves
extensive interviews and analysis of the opinions provided by the primary
respondents. the primary research starts with identifying and approaching the
primary respondents, the primary respondents are approached through
·
Key
opinion leaders associated with Infinium Global Research
·
Internal
and external subject matter experts
·
Professionals
and participants from LinkedIn, hoovers, Factiva and bloggers
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Our
primary research respondents typically include
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Executives
working with leading companies in the market under review
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Product/brand/marketing
managers
·
CXO
level executives
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Regional/zonal/
country managers
·
Vice
President level executives.
Methods of Primary Research
·
Computer-assisted
Telephone Interview (CATI)
·
Computer-assisted
Personal Interview (CAPI)
·
Computer-assisted
Web Interview (CAWI)
·
Questionnaires/Surveys
Secondary Research
Secondary research involves extensive
exploring through the secondary sources of information available in both public
domain and paid sources. at Infinium Global Research, each research study is
based on over 500 hours of secondary research accompanied by primary research.
the information obtained through the secondary sources is validated through the
crosscheck on various data sources. the secondary sources of the data typically
include
·
Company
reports and publications
·
Government/institutional
publications
·
Trade
and associations’ journals
·
Databases
such as WTO (World Trade Organization), OECD (The Organization for Economic Co-operation
and Development), hoovers, Factiva, and the world bank, among others.
· Websites and Publications by Research Agencies
