Dominating the Ready-to-Eat Savoury Snacks Market in 2024: Key Players and Market Share Insights

The ready-to-eat savoury snacks market is experiencing significant growth, and 2024 is set to be a pivotal year for brands in this industry. From chips and pretzels to other savoury treats, the global appetite for these convenient snacks continues to rise, making it an exciting space for food companies. A recent report has revealed the market share breakdown of the leading players expected to shape this market in 2024.

Leading Companies in the Ready-to-Eat Savoury Snacks Market

The competition in the global ready-to-eat savoury snacks market is fierce, and some key companies are carving out significant shares for themselves. Based on the global revenue share, here’s a snapshot of the top players:

1. PepsiCo, Inc. – 16.4% Market Share
   PepsiCo is the undisputed leader in the savoury snacks market, capturing 16.4% of the global revenue share in 2024. The company’s dominance is driven by its well-known brands such as Lay’s, Doritos, and Cheetos, which continue to perform well globally. PepsiCo’s vast distribution network and innovative marketing strategies have solidified its position at the top of the market.

2. Kellogg’s – 13.5% Market Share
   Kellogg’s, another powerhouse in the snack industry, holds the second spot with 13.5% of the global market share. Their portfolio of brands like Pringles continues to grow in popularity, making them a key player in the savoury snacks space. Known for their variety and convenience, Kellogg’s products are found in virtually every grocery store worldwide.

3. Conagra Brands Inc. – 9.3% Market Share
   Conagra, with its brands like Slim Jim and Angie's Boomchickapop, is carving out a significant share of the ready-to-eat savoury snacks market. With a focus on innovation and a diverse product range, Conagra is poised for strong growth, securing 9.3% of the global market.

4. Calbee, Inc. – 8.5% Market Share
   Calbee is a major player in the Asian market, known for its variety of snack products such as chips and crackers. In 2024, the company is expected to command 8.5% of the global market. As the brand expands its footprint in global markets, Calbee continues to see impressive growth, particularly in the snack food sector.

5. Grupo Bimbo – 8.2% Market Share
   Grupo Bimbo, a leader in baked goods, also has a strong presence in the ready-to-eat savoury snacks market. Holding an 8.2% market share, the company’s product offerings include chips, crackers, and other savoury treats, making them a significant contender in the global snack space.

6. Mondelez International, Inc. – 5.3% Market Share
   Mondelez, known for its global brands like Ritz and Triscuit, continues to expand its footprint in the ready-to-eat savoury snack category. With a 5.3% share, Mondelez’s ability to innovate with new flavours and snack combinations has helped them stay competitive in this fast-growing market.

7. Nestlé S.A. – 3.6% Market Share
   Nestlé, with its vast portfolio of food products, holds a smaller share in the savoury snacks market at 3.6%. However, the company’s strong brand presence and commitment to healthy snack alternatives have earned them a place among the top players in the industry.

8. ITC Limited – 7.2% Market Share
   ITC, an Indian multinational, is making waves in the ready-to-eat savoury snacks market, particularly in Asia. With a 7.2% share, ITC has seen significant growth due to its popular snack brands like Bingo and Yippee.

9. Intersnack Group – 6.1% Market Share
   Intersnack, a leading European snack company, holds a 6.1% share of the market. Known for brands like Chio Chips and Pom-Bär, Intersnack has built a reputation for quality and taste, making it a notable competitor globally.

The Rising Influence of Other Players

While the leading players dominate a significant portion of the market, the remaining 13.1% is shared by various other smaller yet impactful companies. These companies may not have the massive scale of PepsiCo or Kellogg’s, but they play a crucial role in meeting regional preferences and offering niche products to consumers.

Trends and Insights for 2024

• Health-Conscious Snacking: As consumer preferences shift towards healthier options, companies are increasingly focusing on offering baked snacks, gluten-free, and low-sodium alternatives to cater to health-conscious individuals.
• Sustainability and Ethical Sourcing: In response to growing concerns over sustainability, many companies are investing in eco-friendly packaging and ethical sourcing practices, meeting the demand from eco-aware consumers.
• Innovation in Flavors: The demand for exciting and unique flavours continues to grow, with companies experimenting with bold combinations and regional flavours to attract a diverse customer base.

Conclusion

As we look towards 2024, the ready-to-eat savoury snacks market is set to be shaped by a combination of innovation, market dominance from established players, and the emergence of new trends. PepsiCo’s continued dominance, Kellogg’s growth, and the impressive strides from companies like Conagra and Calbee show that this sector is primed for further expansion and competition. It will be fascinating to see how these brands adapt to changing consumer tastes and preferences while maintaining their share of the market in an increasingly crowded landscape.

For snack enthusiasts and market watchers alike, 2024 promises to be an exciting year for the ready-to-eat savoury snacks market.