European Savory Snacks Marketis expected to reach $29.8 billion in 2027 growing at a CAGR of 4.6% during the forecast period (2021-2027). European savory snacks industry holds a considerable share in the global market due to the rising industrialization, which in turn, is increasing the demand for on-the-go food products in the region. However, the rising health awareness and health benefits for nuts and seeds are expected to augment the demand for nuts and seeds in the savory snacks market during the forecast period. This factor is further backed by the rising conventional retailing channels and e-commerce platform, offering a different variety of savory snacks at considerably discounted prices, which is further supporting the market growth. Most of the brick-and-mortar retail shops were closed as a precautionary measure by the European government through a series of lockdown plans to contain the spread of the COVID-19. This, in turn, created significant demand for online shopping of essential and non-essential products such as groceries, clothing, and accessories, among other products. The COVID-19 pandemic has severely impacted various sectors including supply systems in the region. For instance, the COVID-19 pandemic exposed the disruptive food supply system in the UK.
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Growing Demand for Savory Snacks
The overall value of EU processed potato production nearly reached $11.3 billion in 2017 or 1.5% of the overall production of the European food industry. Frozen chips and crisps were the most significant products in terms of production value in 2017. The huge production and consumption of savory snacks raw materials, such as potatoes and almonds, augments the savory snacks market growth in Europe. The European food processing and snack industry are the large users of nuts and seeds, both as an ingredient, for traditional sweets and pastries, and re-processing and re-export to third countries, such as the US, the main source of almonds for European importers.
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Scope of the European Savory Snacks Market
Market Coverage
- The market number available – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- By Product Type and Distribution Channel
- Competitive Landscape- General Mills, Inc., Arca Continental, S.A.B. De C.V., Intersnack Group GmbH, Nestlé S.A., Lorenz Bahlsen Snack-World Gmbh & Co KG
Recent Strategic Initiatives in the European Savory Snacks Market
- In May 2020, General Mills Convenience introduced salty snacks with a flavor punch. Chex Mix MAX’D includes the Chex Mix components—Chex pieces, rye chips, pretzels, and breadsticks, with a spicy flavor.
- In June 2018, Intersnack Group announced that it had reached an agreement for its KP Snacks business to acquire Tyrrells, Inc. and its global portfolio of better-for-you, premium snack brands (“Tyrrells”) from the Hershey Co. and its subsidiaries for an undisclosed amount. The Tyrrells business included a Head Office and two manufacturing sites in the UK, along with US manufacturing capabilities, the Aroma Snacks business in Germany, and Yarra Valley Snack Foods in Australia.
European Savory Snacks Market-Segmentation
By Product
- Extruded Snacks
- Potato Chips
- Nuts & Seeds
- Meat Snacks
- Popcorn
- Others
By Distribution Channel
- Conventional Stores (Offline)
- Online Retail
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
