UK Savory Snacks Marketis estimated to exceed $5.6 billion in 2027, growing at a CAGR of 5.5% during the forecast period (2021-2027). UK e-commerce retailers focus on initiatives that involve the use of tools including artificial intelligence (AI) and machine learning to optimize their business operation and also provide customer satisfaction. Moreover, there exists a high penetration of the internet in the country. As per Eurostat, in 2019, the proportion of individuals using the internet was 96% of the total population, of which 87% purchased online. Easy access to the internet and increasing online shopping are some key factors driving the savory snacks market in the country. The supermarkets have experienced some good sales before as well as after the announcement of the complete lockdown in the country. Out of fear of running out of food, the people in UK have chosen to store extra food during the pandemic. Hence, the impact of the COVID-19 on the food & beverage industry is versatile for some sub-segments, for instance, supermarkets have registered good sales of savory snacks whereas, and restaurants are barely managing to survive the COVID-19 pandemic.
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Rising Demand for Savory Snacks Supporting the Market Growth
UK is among the top five consumers of cashew and pecan. The country has the largest consumption of peanuts, followed by almonds. In 2018, UK’s peanut consumption accounted for 100,856 metric tons (MT), almonds consumption was 24,253 MT, the consumption of nuts and seeds in UK are continuously increasing, which in turn, is driving the savory snacks market in UK. Exotic flavors will drive innovation in the market: A rapid demand for exotic flavors, with certainly no compromise on taste from consumers’ side, with growing preference for healthy products, will drive innovation in the market during the forecast period. Unique tastes, textures, and flavors aids in raising its number of consumers in UK, leading to the growth in the market value in UK. The new range of products has entered into the market and is gaining a significant increase in the country. The products with a combination of sweet and savory taste are gaining traction in UK. Popcorn and nuts have already seen such combinations, such as honey roasted peanuts and sweet and salty popcorn.
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Scope of the UK Savory Snacks Market
Market Coverage
- The market number available for 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- By Product Type and Distribution Channel
- Competitive Landscape-Intersnack Group Gmbh & Co. KG, McCain Foods, Ltd., ITC, Ltd., Mondelez International, Inc., JFC International.
Recent Strategic Initiatives in the UK Savory Snacks Market
- In May 2020, the company declared the launch of two direct-to-consumer websites, including Snacks.com and PantryShop.com, where shoppers can order a range of PepsiCo’s food and beverage brands. With the increasing consumers’ inclination towards online platforms for their food and beverage requirements during the COVID-19 pandemic. These websites will offer shoppers easy and fast access to PepsiCo’s products.
- In July 2018, Intersnack Group revealed that its British arm, KP Snacks, which makes KP nuts, Hula Hoops, Butterkist popcorn, and Tyrrells crisps, had bought UK-based potato crisps maker Popchips. KP Snacks bought the Popchips brand in UK and Europe however, another company, Popchips Inc, would continue to operate separately in North America and other markets.
UK Savory Snacks Market- Segmentation
By Product Type
- 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.)
