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The global baked savoury snacks market is witnessing robust growth due to the increasing demand for convenient food products with easy availability and low cost. Snacking between the meals has witnessed an upsurge among the consumers of all age groups. The consumers are demanding for healthy snacks that combine nutrition and convenience. The manufacturers of savoury snacks are now coming up with new baked snacks products offering new flavours to seek the consumer’s attention. For instance, In March 2020, Whisps Snacks added new flavours to its snacks range, Tangy Ranch Cheese Crisps and Nacho Cheese Crisps. These crisps are gluten-free, keto-friendly and is made from cheddar cheese which is baked instead of being fried.
The baked savoury snacks consumption has` increased among the working population across the globe as these healthy snacking aids in maintaining the body’s metabolism and also helps in controlling the hunger between the meals. The rising trend among the consumers for on-the-go food along with the availability of various baked savoury snacks such as biscuits, chips, popcorn, and others have positively impacted its market growth. The key manufacturers are focusing towards launching innovative products such as gluten-free and low carb baked snacks and this has aided in the market growth of baked savoury snacks market.
The consumers are becoming health conscious and are opting for baked snacks instead of fried due to the relatively lower fat and calorie content in the baked products. The negative health issues such as high cholesterol and obesity associated with fried snacks is nudging them to shift towards healthier baked snacks. The rise in healthy snacking trend among the consumers is driving the global baked savoury snacks market.
Key Market Driver -
Increase in Demand for Baked Savory Snacks
Key Market Restraint -
Low Market Penetration
“The lower market penetration of baked savoury snacks as compared to the extruded snacks in the developing economies is a major restraining factor in its market growth. Moreover, the affordability of extruded snacks is more compared to the baked savoury snacks. The presence of roasted nuts and seeds such as peanuts and cashews, have hampered the market growth of baked savoury snacks.”
The key companies operating in the global baked savoury snacks market are, General Mills, Inc., ITC Limited, The Kellogg’s Company, PepsiCo, Inc., Lorenz Bahlsen Snack-World GmbH & Co KG Germany, Intersnack Group GmbH & Co. KG, Chaucer Foods Ltd., Nestlé S.A., Amplify Snack Brands Inc., Campbell Soup Company
The baked savoury biscuits are among the leading types of baked savoury snacks. The baked savoury biscuits are mostly preferred by the consumers as a nutritious healthy snacking option. The ready-to-eat popcorn is also gaining popularity especially, among the millennials due to its availability in different flavours and is low in calories. The baked potato chips are extensively replacing the fried potato chips. The baked potato chips are comparatively healthy due to their lower fat content.
The supermarkets and hypermarkets are leading channels for the sales of baked savoury snacks products. The presence of distinct product shelves along with the attractive discounts on bulk-purchasing enhances the consumers buying experience. The online retail segment is also gaining traction as they provide a digitalized purchasing experience for the customers coupled with attractive discounts on product prices.
North America is witnessing significant growth in the baked savoury snacks market due to high demand for tasty and healthy snacks. The portability, convenience and indulgence offered by the baked savoury snacks are expected to drive its regional market.
Europe is expected to witness substantial growth in the baked savoury snacks market. The sedentary lifestyles of the consumers in the region has led to an increase in demand for low calorie and less fat containing nutritious snacks that are baked instead of being fried. The informed buying behaviour of the consumers have increasingly shifted their preferences towards baked savoury snacks. These factors are thus, expected to boost the growth of regional baked savoury snacks market.
Asia Pacific is anticipated to witness a considerable growth in the upcoming years. The consumption of baked savoury snacks has increased in the region owing to the growing millennial population. The younger cohort are becoming health conscious and, hence opting for healthy and baked snacks. The wide acceptance of westernized culture along with evolving taste preferences of the consumers is expected to drive the baked savoury snacks regional market.
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