Roasted Snack Market Size, Share, Growth, And Industry Analysis, By Type (Nuts, rains, Cereals, Others), By Application (Store-Based, Non-Store Based), Regional Insights and Forecast To 2032

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Roasted Snack Market Report Overview

Global roasted snack market size was anticipated to be worth USD 6.12 billion in 2023, projected to reach USD 8.49 billion by 2032 at a 3.7% CAGR during the forecast period.

Dry and roasted snacks made from cereal are referred to as roasted snacks. By exposing food to extremely high temperatures (about 180°C), roasting removes practically all of the moisture content of foods like nuts, grains, cereals, and other items. Because water takes up the majority of its mass, this results in a considerable decrease in weight. These kinds of foods still have a lot of calories compared to other dried goods like potato chips, albeit roasting only typically removes approximately 30% of the calories from them.

Some of the causes driving this increase include the rising demand for nutritious food and the number of consumers who are health-conscious. Additionally, a favorable effect is anticipated from the rise in disposable income that has caused a greater emphasis on food consumption.

Salty and flavored nibbles make up Roasted snacks. It offers a selection of popcorn, nuts, and seeds, as well as several kinds of chips and crisps. These totally Roasted goods are regarded as healthful because they use less butter and oil. The popularity of snacks is growing due to a number of benefits, including their high energy content, the extra nutrients they provide, particularly in the form of nuts and seeds, and their capacity to moderate hunger and reduce overeating at following meals. Two further significant factors driving the market's growth are an increase in the demand for multigrain chips and the invention of newly Roasted products. For instance, the Guilt Free Industries Limited Brand Too Yumm! released its newest snack product line, Karare, in December 2018. Karare's USP is that it is baked, not fried. Consumers' daily eating habits are being impacted by hurried lifestyles and increasing urbanization. As a result, more light, convenient, and adaptable snacking options are gradually replacing main meals, fueling the rise of the Roasted snacks market.

COVID-19 Impact: Growth Was Favored by Higher Retail Sales of Roasted Snacks During COVID-19

The COVID-19 pandemic has been unprecedented and staggering, with the Roasted Snack Market experiencing higher/lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 outbreak and the ensuing regulations implemented by numerous countries led to the market's stringent closure, which alienated customers socially. Customers prefer to keep a supply of necessary items on hand at home, especially snacks like these Roasted snacks. Convenient and on-the-go snacking frequently includes Roasted snacks. As a result, sales in 2020, when the COVID-19 epidemic slowed down activity and caused many people to stay at home, were about ordinary. However, in 2021, as restrictions were loosened and people resumed their regular activities, the snack category had a recovery.

Latest Trends

"Growing demand for quick and portable snacks is propelling market expansion"

The market for roasted snacks has expanded dramatically as consumers' preferences for quick, portable snacking have grown. Consumers are continuously looking for easy meal options that may be quickly consumed while on the go or during busy schedules in today's fast-paced environment. Roasted snacks are a great option because of the substantial need for snacks that provide convenience and nutrition as a result of this change in consumer behavior. The fact that roasted snacks are ready to eat is one of the main factors contributing to their popularity as options for on-the-go meals. Traditional fried snacks need to be cooked or further prepared, but roasted snacks are already cooked and wrapped and may be eaten right out of the bag. Since no cooking utensils or equipment are required, this makes them very practical for customers who are always on the go or do not have access to a kitchen.

Roasted Snack Market Segmentation

• By Type

According to type, the market can be segmented into nuts, grains, cereals, others. Nuts are anticipated to be the leading segment.

• By Application

Based on application, the market can be divided into store-based, non-store based. Store-based will be the dominating segment.

Driving Factors

"Consumer Preference for Roasted Foods is Growing, Driving Market Growth"

The growing preference of consumers for Roasted foods over fried foods is a key factor driving the market's expansion. In addition, compared to their counterparts, fried dishes, Roasted foods are regarded as low-cholesterol foods. Furthermore, because fried foods are cooked at high temperatures, they lose all of their nutritional value. Due to the increased demand for healthful food items, consumer dietary habits have undergone a considerable adjustment. Consumers today favour Roasted snacks with a health focus that are tasty and convenient while also contributing to good health. As a result, Roasted snacks are regarded as being more wholesome and healthier than fried snacks. Additionally, some customers are prepared to spend more on wholesome snack items. In order to satisfy consumer demand for Roasted snacks, manufacturers concentrate on the introduction of new goods. For instance, the nachos brand Cornitos added Roasted snacks to their product lineup in January 2022. Delicious flavours and wholesome components including beans, chickpeas and potatoes may be found in the new line.

"Growing Consumer Demand for Healthy Snacking Habits to Drive Market Growth"

Due to the availability of several snacks with diverse flavours and a substantial change in customers' eating habits, the demand for healthy food products is quickly rising. Consumers today prefer nutritious snack foods since they may keep them in good health and they also taste well. Additionally, the working millennial generation is driving the market for low-calorie, low-fat, gluten-free, whole wheat snacks such snacks and Roasted goods without chemical preservatives and flavours. Products like toasted pita chips, roasted veggie chips, and nutritious muesli bars are excellent sources of fibre that aid in weight loss by making the consumer feel satisfied for a long period of time. Therefore, all of the aforementioned variables work to open up market prospects for customer preference for healthy snack products.

Restraining Factors

"Market growth is hampered by low market penetration in developing countries"

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Due to a lack of production facilities and a high price compared to snack replacement items, Roasted snacks have a small market penetration, particularly in underdeveloped nations. The consumer buys freshly baked, unpackaged treats every day. Because of this, they avoid buying packaged Roasted goods. Many manufacturing firms assert that their bread items are wholesome and nourishing. Consumption of these items, however, is more frequently linked to the rise in obesity and chronic illnesses including cancer and cardiovascular disease. The sales of Roasted snack goods have suffered as a result of this aspect. The strong climatic dependency on the production of essential bread ingredients also contributes to the price fluctuations of Roasted snacks. Temperature rise, excessive heat, torrential rain or flooding, and other severe weather can affect the yield and quality of different crops, causing price swings and subpar investment returns. Low market penetration in developing nations and raw material price volatility hence restrain market expansion.

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Roasted Snack Market Regional Insights

"Due to a rise in the consumption of Roasted snack products, Asia Pacific will have the largest share"

Europe, North America, South America, Asia Pacific, the Middle East, and Africa are all included in the market analysis. Due to growing production of healthy snacks in countries like India, China, Japan, and Australia, the Asia Pacific region held a significant market share for Roasted snacks. Additionally, Asian consumers are rapidly becoming more health conscious, which is driving up demand for sugar-free snack food items. Customers want to try out well-known products because they have a variety of interests and palates. To fulfil the changing needs of consumers, manufacturers are consequently continually diversifying and improving their product lines. For instance, Dabur India launched more products under the Real Health subbrand in February 2022. Additionally, the company intended to introduce dried fruit and value-added party snacks under the Real Health brand. Furthermore, the popularity of healthy lifestyle trends in China and Japan raised the need for gluten-free goods, fueling the market.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP ROASTED SNACK COMPANIES

• Biena (US)
• Jayone Foods(US)
• Don't Go Nuts (US)
• Godrej (India)
• SunOpta Inc. (Canada)
• PepsiCo (US)
• Thanasi Foods LLC (US)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.