Roasted Snacks Market Size, Share, Industry, Forecast and outlook (2024-2031)

Roasted Snacks Market is segmented By Source (Fruits & Vegetables, Grains & Pulses, Others), By Nature (Organic, Conventional), By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Sales, Others) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Roasted Snacks Market Size

The Global Roasted Snacks Market reached USD 5.1 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 8.1 billion by 2030. The market is growing at a CAGR of 6.1% during the forecast period 2024-2031. They are introducing a wide range of roasted snack varieties in various flavors and seasoning options.

As consumers prioritize healthier snacking options, the demand for roasted snacks has witnessed a steady rise. Roasted snacks are perceived as a healthier alternative to fried or high-fat snacks due to their lower oil content and minimal processing. This growing health consciousness among consumers is expected to fuel the market's growth as more individuals seek nutritious snack options.

To cater to evolving consumer preferences, market players are focusing on flavor innovation and product diversification. This constant innovation and variety in product offerings are anticipated to attract a larger consumer base and drive market growth. 

Roasted Snacks Market Summary

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Roasted Snacks Market Dynamics

Increasing Health Consciousness and Demand for Healthier Snacks Drives Market Growth

The increasing health consciousness and demand for healthier snacking options are expected to drive the global roasted snacks market. Consumers are becoming more aware of the impact of their dietary choices on their health and are actively seeking out snacks that are perceived as healthier alternatives. The rising demand for healthier snacks creates opportunities for market growth. Manufacturers are offerings new products of roasted snacks, incorporating different flavors, ingredients, and nutritional profiles. 

For instance, on March 15, 2023, Rajdhani Besan expanded its product portfolio to include a range of new offerings. These include cornflakes, choco flakes, oats, roasted chana, makhana, and sabudana. With a focus on quality, the company emphasizes the use of fresh and carefully selected ingredients. To maintain optimal hygiene standards, the products undergo packaging and processing in state-of-the-art facilities, ensuring the removal of any impurities. 

Rising Demand for Convenient and On-The-Go Snacks Drive Market Growth

The rising demand for convenient and on-the-go snacking options is expected to drive the global roasted snacks market. With increasing urbanization, busy lifestyles, and changing dietary habits, consumers are seeking snacks that offer convenience and portability. The market is witnessing a shift in consumer preferences towards snacks that are consumed anytime, anywhere. This trend is fueled by factors like long commutes, hectic work schedules, and the need for quick and satisfying snack options. 

In response to the demand for convenience and on-the-go snacking options, market players are focusing on product innovation and packaging formats that enhance portability and ease of consumption. For instance, on January 18, 2023, ProV Foods, a brand under the Mumbai-based startup Proventus Agrocom, introduced a new product line called ProV Minis, specifically tailored for the Indian market. ProV Minis are compact snack packs consisting of flavored dry fruits, nuts, and seeds, designed to provide convenient and nutritious on-the-go snacking options. Priced at Rs 30 per pack, ProV Minis offer an affordable choice for health-conscious individuals seeking portable nutrition.

Increasing Competition From Other Snack Alternatives Hamper the Market Growth

Increasing competition from other snack categories and healthier alternatives can potentially restrain the growth of the global roasted snacks market. With a wide range of snack categories vying for consumer attention and market share, the snack industry is highly competitive. The traditional snack options are established a strong presence in the market and are often preferred by consumers due to their familiarity and wide availability. As a result, roasted snacks are facing the challenge of capturing market share and standing out among these popular alternatives.

Consumers who prioritize health and wellness may opt for these alternatives over roasted snacks, perceiving them to have better nutritional profiles or cleaner ingredient lists. This shift in consumer preferences towards healthier alternatives poses a challenge to the growth of the roasted snacks market.

Roasted Snacks Market Segmentation Analysis

The global roasted snacks market is segmented based on source, nature, distribution channel, and region.

Increasing Demand for Organic Roasted Snacks with Health-Conscious People

The organic segment held a substantial share of the global roasted snacks market. Roasted snacks in the organic segment are often perceived as healthier options compared to conventional snacks. The absence of synthetic chemicals and GMOs, coupled with the use of organic ingredients, appeals to health-conscious consumers. The segment's alignment with the growing emphasis on health and wellness contributes to its market dominance.

The growing awareness of environmental sustainability is contributing to the popularity of organic roasted snacks. Organic farming is emphasizing the use of environmentally friendly methods. This is resonating with consumers who seek products that have a lower environmental impact, which further drives organic segment growth in the market.

Roasted Snacks Market Geographical Share

Increasing Availability and Accessible of Roasted Snacks in North America 

North America region has a dominant position in the global roasted market. Roasted snacks are readily available and easily accessible in North America. They find in a wide range of retail outlets, including grocery stores, convenience stores, and specialty snack shops. The availability of roasted snacks in various settings ensures easy access for consumers, contributing to the market dominance of North America.

Market players in the region invest in research and development to introduce new flavors, textures, and packaging formats for roasted snacks. For instance, on January 16, 2023, Cibo Vita Inc., the company Powered by Plants brand, introduced a line of artisanal roasted nuts. These innovative nut varieties are now available in over 500 Hudson News locations. With a focus on premium quality, these new offerings bring forth unique flavors and textures to delight consumers. The artisanal roasted nuts are attractively priced at $6.99 per bag, making them an accessible and indulgent snack option.

Market Competitive Landscape

The major global roasted snacks market players include Biena, Jayone Foods, Inc., Don't Go Nuts, Godrej, SunOpta Inc., PepsiCo, Thanasi Foods LLC, Nestlé S.A., B&G Foods Inc., and Mondelēz International Inc.

COVID-19 Impact on Roasted Snacks Market

The pandemic led to disruptions in supply chains, including the sourcing of raw materials and distribution of finished products. Lockdowns, travel restrictions, and social distancing measures resulted in logistical challenges and delays in the movement of goods, affecting the availability and timely delivery of roasted snacks in the market. 

However, the pandemic brought about changes in consumer behavior and preferences. With people spending more time at home due to lockdowns and remote work arrangements, there was a shift towards increased snacking including roasted snacks.

Artificial Intelligence Impact Analysis

Artificial intelligence (AI) can optimize the roasted snacks market's supply chain by analyzing demand patterns, forecasting inventory needs, and optimizing logistics and distribution. By incorporating AI-driven demand forecasting models, manufacturers can reduce waste, streamline inventory management, and ensure the timely delivery of products to meet market demands.

Maintaining consistent quality and ensuring food safety is crucial for any food product, including roasted snacks. AI-powered technologies, such as computer vision and machine learning, can be used to monitor production processes, detect defects or contaminants, and ensure compliance with food safety regulations. AI can help improve quality control measures, reduce product recalls, and enhance consumer trust in the market.

By Source 

• Fruits & Vegetables
• Grains & Pulses
• Others

By Nature

• Organic
• Conventional

By Distribution Channel 

• Organic Supermarkets & Hypermarkets
• Convenience Stores
• Online Sales
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On January 3, 2023, Marico Limited, a packaged consumer goods company, broadened its packaged foods portfolio by introducing a line of ready-to-eat snacks. Among the newly launched products are the Saffola Munchiez Ragi Chips and Saffola Munchiez Roasted Makhana, available in a range of delicious flavors. Initially, these products are being sold in general trade stores, and Marico has plans to expand their availability to modern trade outlets and e-commerce platforms shortly.
• On January 25, 2022, Greendot Health Foods Pvt. Ltd., the brand behind Cornitos, expanded its range of offerings with the introduction of a new baked snack called Crusties. This innovative snack comes in a variety of flavors, including Chana Crusties Dilli Chaat, Rajma Crusties King Curry, Chana Crusties Cheesy Garlic, Rajma Crusties Lemon Chili, Potato Crusties Peri, and Potato Crusties Italian Cheese. The launch of Crusties showcases Cornitos' commitment to providing consumers with diverse and flavorful snacking options.
• On May 17, 2021, PepsiCo expanded the Frito-Lay snack factory in Casa Grande, Arizona, as per the plans it unveiled. This expansion project entailed a significant capital investment of $100 million and created around 200 new job opportunities, contributing to the economic growth of the region. With the expansion of the facility, PepsiCo has strengthened its production capabilities and further solidified its presence in the snack market.

Why Purchase the Report?

• To visualize the global roasted snacks market segmentation based on source, nature, distribution channel, and region, as well as understand key commercial assets and players.

• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous data points of the roasted snacks market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global roasted snacks market report would provide approximately 61 tables, 57 figures, and 118 Pages

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies