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Report
Pakistan Savory Snack Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 80 Pages I Mordor Intelligence
The Pakistani savory snack market is projected to register a CAGR of 9.41% during the forecast period, 2022-2027.
The COVID-19 pandemic significantly impacted the savory snacks market in Pakistan as impulse sales were hit by lockdown due to stock shortages, which increased the at-home consumption of snack products in Pakistan. The COVID-19 pandemic resulted in the generation of opportunities for many savory snack industry private players to emerge in the markets to cater to the inflated demand. The demand for innovative savory snacks has been predominantly high as these are a quick and convenient means of satisfying hunger in between meals.
Over the medium term, the consumers in the country constantly seek convenient snacking options that are being upgraded by the major manufacturers operating in the Pakistani savory snack market. The change in consumers' preference has shown a greater inclination toward spicy flavors of savory snacks in Pakistan.
The flavorful innovation is the single-most factor retaining the momentum of the savory snack industry in Pakistan. The market has witnessed the launch of innovative snacks with a wide variety of flavors, such as smoke, vinegar, honey, spice, pizza, and barbecue, to name a few.
New domestic brands of affordable and high-quality potato chips led to the replacement of loose Off-Brand chips. Higher disposable incomes, increasing brand awareness, and introducing various flavors contribute to the market growth.
Pakistan Savory Snack Market Trends
Increasing Demand for Convenient Snacking Options
Consumers in the country are constantly seeking convenient snacking options that are being upgraded by the major manufacturers operating in the market studied. The demand for convenient snacks is increasing due to changes in social and economic patterns, as well as increased expenditure on food and beverages. Convenient snacks, like potato chips, extruded snacks, nuts and seeds, and popcorn, are becoming extremely popular, especially among the working population of the country, the rising young generation of consumers, and the people living in hostels due to their hectic lifestyles.
Moreover, the on-the-go snacking concept is linked to easy consumption. It is relatively easier to handle savory snacks like popcorn, and potato chips, to name a few. Also, popcorn, nuts and seeds, and extruded snacks can help in preventing people from getting too hungry for junk foods, as these serve as ideal eatables in between breaks or whenever they are hungry without having to cook every time. Savory snacking options help the consumers save time on cooking at home, especially in times of minor hunger urges, and also serve as convenient tiffin options for school/college-going children and even in between work sessions.
Departmental Stores Segment Holds a Significant Market Share
Consumers in urban areas have been recently switching from traditional grocery stores to branded grocery chains due to changing consumer lifestyles, the availability of global brands, and technological interventions. This change in consumer behavior is, in turn, expected to drive the savory snack market through departmental stores. The segment accounts for the highest share in the savory snack market, owing to its friendly format among consumers with a real feel of shopping experience. The distributed specialty departments dedicated to specific product categories offer convenient shopping experiences to the consumers and are expected to drive the growth of the market through departmental stores over the forecast period.
Pakistan Savory Snack Market Competitor Analysis
The Pakistani savory snack market is highly competitive due to the presence of various local and international vendors. Some of the major players in the market are PepsiCo Inc., Capital Group of Companies, Haldiram's, Nimco's, Shahi, Bhaya Foods Industries, and United Snacks. One of the most important strategies companies are implementing is putting in major efforts to penetrate the retail channels, which eases the circulation of products into the consumer market. Most of the major companies operating in the Pakistani market offer a wide range of products to their consumers. For instance, Shahi owns state-of-the-art manufacturing facilities, allowing the company to meet heavy demands for savory snacks, majorly arising from the country's urban areas.
Moreover, key players are now focusing on social media platforms and online distribution channels for the online marketing and branding of their products to attract more customers.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Potato Chips
5.1.2 Extruded Snacks
5.1.3 Nuts and Seeds
5.1.4 Popcorn
5.1.5 Other Product Types
5.2 By Distribution Channel
5.2.1 Supermarkets/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Positioning Analysis
6.3 Company Profiles
6.3.1 PepsiCo Inc.
6.3.2 Capital Group of Companies
6.3.3 United Snacks (Pvt) Limited
6.3.4 Nimco Corner
6.3.5 Shahi Group
6.3.6 Rehmat-e-Shereen
6.3.7 Dalda Foods Ltd
6.3.8 Bhaya Foods Industries
6.3.9 The Kellogg Company
6.3.10 Ismail Industries
6.3.11 Kernelpop
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
8 IMPACT OF COVID-19 ON THE MARKET
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