Asia-Pacific Savory Snacks Market is anticipated to hold the largest market share in the global market and is expected to reach more than $72.0 billion in 2027 as compared to a CAGR of 10.0% during the forecast period (2021-2027). Consumers in Asia-Pacific countries are becoming potentially aware of the healthy benefits of savory snack products including nuts and seeds and potato snacks, which is driving the market growth in the region. Potato chips are expected to hold the largest market share with the fastest growth rate.
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Rising Demand for Savory Snacks Supporting the Market Growth
Asia-Pacific savory snacks market has been witnessing optimal growth owing to the rising awareness regarding healthy snacks, increasing disposable income, rising launches of innovative snacks, and expansion of global snacks manufacturers in the region. Consumers in Asia-Pacific countries are becoming potentially aware of the healthy benefits of savory snack products including nuts and seeds and potato snacks, which is driving the market growth in the region. The significant presence of the millennial population and rising incidences of obesity and overweight has further escalated the demand for healthy snacks in the region. This resulted in increasing consumption of nuts, including almonds, peanuts, cashew nuts, and more in the country.
Scope of the Asia-Pacific Savory Snacks Market
Market Coverage
- The market number available for 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- By Product Type and Distribution Channel
- Competitive Landscape- Pepsico Inc, General Mills Inc., The Kraft Heinz Co., Balaji Wafers Pvt. Ltd., ITC, Ltd., Want Want Holdings, Ltd.
Recent Strategic Initiatives in the Asia-Pacific Savory Snacks Market
- In March 2020, ITC, Ltd. launched two new variants of snacks under its Bingo! Brand as part of its strategy to launch new products to drive sales and gain market share. The new products–Bingo! Mad Angles Cheese Nachos and Bingo! Mad Angles Pizza-aaaah! Have been launched in three stock-keeping-units or sizes, at prices of INR 5 ($0.068), INR 10 ($0.14), and INR 20 ($0.27).
- In November 2019, Haldiram’s has ventured into the US e-commerce market with Amazon’s Global Selling Program. This initiative will support Haldiram’s to expand and enhance its penetration into the US market. As some Indians settled globally, there is an emerging demand for snacks that remind them of India. This collaboration with Amazon’s Global Selling Program will enable Haldiram’s to direct access to the American market.
Asia-Pacific Savory Snacks Market- Segmentation
By Product Type
- Extruded Snacks
- Potato Chips
- Nuts & Seeds
- Meat Snacks
- Popcorn
- Others
By Distribution Channel
- Conventional Stores (Offline)
- Online Retail
Asia-Pacific Savory Snacks Market– Segment by Region
- China
- India
- Japan
- ASEAN
- Thailand
- Vietnam
- Philippines
- Other
- Rest of Asia Pacific
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
