Savory Snacks Market Analysis and New Market Opportunities Explored
The global savory snacks market was valued at $111.1 billion in 2014. The market is expected to grow at a CAGR of 7.1% during 2015 to 2020, to reach $166.6 billion by 2020. The global savory snacks market is being driven by the rising urbanization, increasing per capita income (especially in developing countries), and changing food culture. The high growth of savory snacks market in Asia-Pacific region is mainly coming from the increasing demand from China and India, as they constitute large part of the global and regional population. The healthier alternatives to savory snacks, such as bakery products, fresh fruits, and juices, are hindering the savory snacks market growth; which is compelling companies to offer healthier snacking options. The demand for small pack sizes have been increasing considerably in certain countries, such as India and Mexico, due to increasing consumption from lower income groups and demographic changes. People are demanding varieties in s...