MarketResearchNest.com adds “Savory Snacks Market In The US 2017-2021” new report to its research database. The report spread across 94 pages with table and figures in it.
Research analysts forecast the savory snacks market in the US to grow at a CAGR of 2.86% during the period 2017-2021.
About Savory Snacks
Savory snacks are snack foods that have a salty taste. They are different from sweet snacks. The savory snacks market can be divided into major categories based on the product types: Potato chips, extruded snacks, nuts and seeds, traditional/ethnic snacks, popcorn, meat snacks, pretzels, and other savory snack products. Savory snacks can be categorized under the snack foods segment. Although there are many variants in terms of the ingredients used, the savory snacks market in the US can be divided into the following major categories: Potato chips, extruded snacks, nuts and seeds, traditional snacks, meat snacks, popcorn, and other savory snacks. Potatoes, nuts, seeds, corn, wheat, rice, tapioca, and oats are the most commonly used as ingredients in the preparation of savory snacks.
Covered in this report
The report covers the present scenario and the growth prospects of the savory snacks market in the US for 2017-2021. To calculate the market size, the report considers the revenue generated through the sales of different types of savory snacks in the US including potato chips, extruded snacks, nuts and snacks, traditional/ethnic snacks, popcorn, meat snacks, pretzels, and other snacks sold through many retail outlets and food service establishments, but not limited to hypermarkets, supermarkets, convenience stores, independent retailers, discount stores, warehouse clubs, and others.
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Technavio’s report, Savory Snacks Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Savory Snacks Market in the US 2017-2021
Technavio recognizes the following companies as the key players in the savory snacks market in the US: Calbee, Kellogg, Lamb Weston, McCain Foods, and PepsiCo.
Other Prominent Vendors in the market are: Amplify Snack Brands, Blue Diamond Growers, Boulder Brands, Conagra Brands, General Mills, Hain Celestial, Herr Foods, Natural Intentions, The Meatsnacks Group, and Snyder’s-Lance.
Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is Technological innovations. The technological innovations currently happening in the market will help the manufacturers to come up with more appealing products. As the food industry is constantly evolving, manufacturers are focusing on providing high-quality products to the consumers by using efficient processing equipment.”
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According to the report, one of the major drivers for this market is Evolving taste preferences. The eating habits of consumers are changing due to the increased rate of urbanization and busier lifestyles. The consumers are increasingly replacing meals with tastier convenient snacking options. This growing trend of “snackification” among consumers is driving the growth of savory snack market in the US. This has given rise to portable on-the-go formats. Consumers, especially millennials, are eager to experiment with new varieties. Hence, manufacturers are coming up with product innovations, brand extensions, and the introduction of new brands to try and catch up to the changing taste preferences of the consumers. Manufacturers are engaging in the launch of varieties of savory snack products by using different ingredients and flavors. The new product development and innovation are two key factors driving the market growth in the savory snacks market in the US.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in raw material costs. The savory snack market in the US is highly dependent on raw materials like corn, potatoes, nuts, meats, and others. Any fluctuations in the price of raw materials will affect the market negatively. This will, in turn, affect the manufacturing cost and profit margins of the vendors.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Mr. Jeet Jain