The report predicts the global sweet and savory snacks market to grow with a CAGR of 6.17% over the forecast period of 2016-2024.
The global market size of sweet and savory snacks was worth USD 144.0 billion and it is projected to reach to USD 219.6 billion in 2024. In terms of volume, it is projected to reach to 148.35 MMT in 2024 expanding from 104.94 MMT in 2017.
The growth in this market is primarily driven by factors such as changing lifestyles of the consumers worldwide, increasing snacking among the youth and new product launches among others. On the other hand, growing obesity concerns among the consumers, especially, from the developed countries of Europe and North America are likely to hinder the growth in this market over the forecast period. In addition, fluctuations in the raw material prices are likely to restrain the growth in this market over the forecast period.
Moreover, the global trend of preference for organic food is likely to drive the demand for organic snacks over the forecast period. This in turn, is anticipated to augment the opportunities in the global sweet and savory snacks market over the next six years. Among the regions, the North America region accounted for the largest market share in 2017, while the Asia-pacific region accounted for the second largest market for sweet and savory snacks.
Growing geriatric population in Europe is one of the primary reasons for the sluggish growth in the European sweet and savory snacks market. The significant rise in population of youth and growing disposable income per capita is likely to augment the growth in the Asia-Pacific region over the next six years. As a result the sweet and savory market in the Asia-Pacific region is projected to grow at the highest CAGR among the regions in the world market over the forecast period.
The report on sweet and savory snacks market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global sweet and savory snacks market over the period of 2018 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.
Global Sweet and Savory Snacks Market by Product Type
Crisps And Chips
Nut Based Snacks
Global Sweet and Savory Snacks Market by Distribution Channel