The global baked savoury snacks market is undergoing significant transformation, driven by evolving consumer preferences, health consciousness, and innovations in product offerings. In the forecast period of 2024-2032, the market is estimated to grow at a Compound Annual Growth Rate (CAGR) of 4.10%. This growth is a direct response to the increasing demand for healthier, convenient, and flavourful snack options. As consumers become more aware of the impact of their dietary choices on overall health, the baked savoury snacks market is expected to align with these shifts by offering products that cater to health-conscious consumers without compromising on taste.
This article explores the dynamics of the global baked savoury snacks market, including key drivers, trends, opportunities, challenges, and regional analysis, alongside a look at key players shaping the landscape.
Market Overview
Definition and Types of Baked Savoury Snacks
Baked savoury snacks refer to a category of snack foods that are made by baking rather than frying, making them generally healthier due to lower fat content. These snacks are enjoyed globally, with a wide range of products available such as crackers, chips, pretzels, baked tortillas, puffed snacks, and other savoury snack varieties.
Baked savoury snacks offer consumers a variety of textures and flavours, from light and crispy to crunchy and dense, catering to various taste preferences. The key defining factor in this category is the healthier preparation method, which appeals to health-conscious consumers.
Market Size and Growth Projections
The global baked savoury snacks market was valued at USD 29.42 billion in 2023 and is projected to grow steadily over the forecast period. The market is anticipated to reach USD 42.69 billion by 2032, reflecting a CAGR of 4.10% from 2024 to 2032. This growth is fuelled by rising demand for healthier snack alternatives, greater disposable incomes, and continuous product innovation in the food sector.
Get a Free Sample Report with a Table of Contents
Market Drivers
Health and Wellness Trends
The growing trend towards healthier lifestyles is one of the most significant drivers in the baked savoury snacks market. Consumers, particularly millennials and Gen Z, are increasingly looking for products that align with their health-conscious behaviours. They prefer snacks that are low in fat, calories, and artificial ingredients. This demand has pushed manufacturers to innovate by introducing baked snacks that are rich in nutrients, gluten-free, low-carb, and high in protein.
The shift towards baked snacks is particularly noticeable in comparison to fried counterparts, as baked products generally have fewer calories and lower levels of unhealthy fats. As health awareness rises globally, baked savoury snacks have positioned themselves as a healthier snacking choice.
Shift Towards Convenient Snacking
Busy lifestyles and the growing trend of on-the-go consumption have significantly influenced the demand for convenient snacking solutions. Baked savoury snacks are considered a quick, easy, and accessible snack, which makes them a popular choice among working professionals, students, and busy families. The convenience of packaging, portability, and relatively longer shelf life of baked snacks all contribute to their rising demand.
Growing Preference for Plant-Based Snacks
The plant-based food trend has gained traction over the past decade, driven by increased awareness of the environmental, health, and ethical implications of animal-based diets. This has led to the development of plant-based baked savoury snacks, which are made with plant-based ingredients like legumes, grains, and vegetables.
Plant-based baked snacks such as chickpea chips, lentil crisps, and quinoa-based crackers are increasingly available in the market, attracting a new segment of consumers who are looking for vegan, gluten-free, or dairy-free alternatives.
Product Innovation and Premiumization
Product innovation remains a critical growth factor for the baked savoury snacks market. Brands are focusing on offering new and unique flavours, incorporating exotic ingredients, and offering premium versions of traditional snacks. This premiumisation strategy caters to affluent consumers looking for more sophisticated and high-quality snack products.
Additionally, flavour combinations such as cheese and herbs, spicy variations, and ethnic-inspired options are gaining popularity, which further contributes to market growth.
Market Restraints
High Competition and Market Saturation
The baked savoury snacks market is highly competitive, with numerous established players competing for market share. This intense competition often results in price wars, which can impact profitability for manufacturers. Furthermore, market saturation in developed regions means that growth opportunities in these markets are limited, pushing companies to focus on innovation and differentiation to remain relevant.
Pricing Pressures on Manufacturers
While the demand for healthier snacks is on the rise, baked savoury snacks generally have higher production costs due to the need for quality ingredients, packaging, and more complex manufacturing processes. These higher costs can lead to pricing pressures, particularly when catering to price-sensitive consumers in emerging markets.
Availability of Substitutes
The availability of alternative snacking options, such as nuts, fruits, protein bars, and traditional fried snacks, presents a challenge for the baked savoury snacks market. Consumer preferences can quickly shift towards substitutes, especially if new products offer similar convenience and flavour at a lower price point.
Segmentation of the Global Baked Savoury Snacks Market
By Product Type
- Baked Chips: These are one of the most popular segments in the market. Baked potato chips, tortilla chips, and multigrain chips are all part of this category.
- Crackers: Baked crackers, including salted, seasoned, and cheese-flavoured crackers, are a staple in the savoury snacks market.
- Pretzels: Baked pretzels, both traditional and innovative flavours, have gained traction in the baked snack category.
- Puffed Snacks: Baked puffed snacks, including rice cakes and puffed chips, are increasingly popular, especially as a lighter alternative to fried options.
By Distribution Channel
- Supermarkets and Hypermarkets: This is the largest distribution channel for baked savoury snacks. These stores provide a wide selection of brands, making it a go-to destination for snack purchases.
- Convenience Stores: Convenience stores have emerged as an important distribution channel, especially for on-the-go consumption.
- Online Retail: E-commerce has seen a rise in popularity for food and snacks, especially during the pandemic, and this trend continues to grow.
By Region
The market for baked savoury snacks varies significantly across regions, with varying consumer preferences, trends, and economic conditions.
- North America: North America holds the largest share of the global baked savoury snacks market. The demand for healthier, more natural snack options is high, and companies in the region are focusing on product innovation and premiumisation.
- Europe: Europe is also a significant market, with trends around organic and gluten-free baked snacks seeing strong growth.
- Asia-Pacific: The Asia-Pacific region is expected to witness the highest growth rate due to urbanisation, a growing middle class, and increasing awareness of healthy eating habits.
- Latin America and the Middle East & Africa: Both regions are expected to see moderate growth, with evolving dietary habits and an increase in demand for healthier snacks.
Regional Market Analysis
North America
North America remains the dominant region for baked savoury snacks, accounting for a significant market share. The rising consumer demand for healthier, low-calorie snacks and convenience has led to increased investments from companies to innovate and cater to these needs. Additionally, the growing popularity of plant-based diets, organic food, and gluten-free products has fueled the growth of baked savoury snacks in this region.
Europe
In Europe, the demand for baked savoury snacks is shifting towards organic, low-sodium, and gluten-free options. As more consumers in Europe focus on clean labels and transparency, manufacturers are adapting their offerings to meet these demands. The increasing popularity of health-conscious snacks, especially among millennials and Generation Z, is also driving the market in this region.
Asia-Pacific
The Asia-Pacific market is experiencing rapid growth, driven by the increasing urbanisation, rising disposable income, and changing eating habits. Health-conscious snacks are gaining popularity, and local flavours are being integrated into baked savoury snacks to cater to regional preferences.
Latin America & Middle East Africa
Both Latin America and the Middle East & Africa regions are seeing steady growth, with consumers becoming more aware of the importance of healthy eating. Manufacturers are focusing on introducing region-specific flavours to appeal to local tastes, while also catering to the increasing demand for healthier snack options.
Key Market Trends
Innovations in Flavour and Ingredients
Consumers are seeking more adventurous snack options with unique and bold flavours. As a result, brands are experimenting with new flavour profiles, such as spicy, sweet-savoury, and ethnic-inspired varieties, to capture consumer attention and stand out in the competitive landscape.
Packaging and Sustainability
Sustainable packaging is becoming increasingly important to consumers, particularly among younger demographics. Eco-friendly packaging and the use of recyclable or biodegradable materials are key focus areas for manufacturers. Additionally, sustainable sourcing of ingredients is also gaining traction.
Digital Transformation in Marketing and Distribution
The rise of e-commerce and social media marketing is transforming the way baked savoury snacks are sold and marketed. Brands are leveraging online platforms for direct sales, digital advertising, and influencer marketing to reach a broader audience.
Competitive Landscape
Key Players in the Market
The baked savoury snacks market is fragmented, with numerous regional and global players competing for market share. Key players in the market include:
- PepsiCo Inc.
- Kraft Heinz
- Mondelez International
- Pringles (Kellogg’s)
- General Mills, Inc.
- The Hershey Company
- Intersnack Group
Mergers and Acquisitions
Mergers and acquisitions (M&A) are common in the baked savoury snacks market as companies seek to expand their product portfolios and regional presence. For example, large multinational snack manufacturers are acquiring smaller brands that cater to niche markets, such as health-focused or organic snacks.
Explore More Reports:
Laboratory Electronic Balance Market: https://www.expertmarketresearch.com/reports/laboratory-electronic-balance-market
Malaysia Cereal Bars Market: https://www.expertmarketresearch.com/reports/malaysia-cereal-bars-market
Middle East Concrete Market: https://www.expertmarketresearch.com/reports/middle-east-concrete-market
Opportunities and Future Outlook
Growth Opportunities in Emerging Markets
As disposable incomes rise and consumer preferences evolve in emerging markets such as Asia-Pacific and Latin America, baked savoury snacks present significant growth potential. Expanding into these markets with regionally tailored products can provide manufacturers with a competitive edge.
Sustainability Trends in Packaging and Ingredients
Sustainability will continue to play a major role in shaping the future of the baked savoury snacks market. The move towards sustainable packaging and sourcing practices will not only help brands meet consumer demands but also comply with increasing environmental regulations.
Health-Conscious Product Development
Product development focused on health and wellness will remain a central focus for the baked savoury snacks market. Opportunities lie in developing snacks with functional benefits, such as those enriched with proteins, fibres, or probiotics.