Pakistan Savory Snack Market -Segmented by Type (Crisps/Chips, Extruded Snacks, Nuts and Seeds, Popcorn and Other Product Types), Distribution Channel (Hypermarkets/Supermarkets, Specialty Store, Departmental Store and Other Distribution Channels), and Geography - Growth, Trends and Forecasts (2018 - 2023)
Pakistan Savory Snack Market Insights
The Pakistan savory snack market recorded a revenue of USD 512.03 million in 2017, and is expected to reach USD 874.53 million by 2023, registering a CAGR of 9.34% during the forecast period.
The consumers in the country constantly seek convenient snacking options that are being upgraded by the major manufacturers operating in the Pakistan savory snack market.
Pakistan Savory Snack Market Dynamics
The consumers in Pakistan follow the impulse buying patterns, as snacks are viewed as food products that should not be incorporated into daily diets. Thus the consumers are more likely to grab a product than choosing one.
The consumers in Pakistan make their purchase decision considering the factors, like quality, features (like spiciness), design, branding, and package sizes.
The change in consumer’s preference has shown 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 but a few.
Pakistan Savory Snack Market Segmentation
The Pakistan savory snack market is highly dominated by the crisps/chips segment, with a market share of 37.6% in 2017, followed by extruded snacks and other types of savory snacks, such as locally-made namkeen, etc.
Local departmental stores hold a prominent share of approximately 40% in the retail sales of savory snacks in Pakistan. Hypermarkets/Supermarkets are expected to record the highest CAGR of 10.48% during 2018-2023. Strengthening of the local retail stores is expected to drive the market during the forecast period.
Pakistan Savory Snack Regional Market Analysis
Karachi and Lahore are the major metropolitan cities in Pakistan who contribute majorly to the savory snack.
Key Developments in Pakistan Savory Snack Market
January 2018 -Pop Nosh introduces first ever gourmet popcorns in Pakistan
November 2017 - Spar International announced a partnership with Burque group, and resulted in opening of the first retailer store in Karachi.
Competitive Landscape of Pakistan Savory Snack Market
Pakistan Savory Snack Market Major Players -PepsiCo Inc., Capital Group of Companies, Haldiram’s, Nimco’s, Shahi, Bhaya Foods Industries and United Snacks, among others.
PepsiCo dominates the market and holds a significant share of 81.3% of the retail sales value with its popular international brands -Lays, Kurkure, and Cheetos.
Reasons to Purchase Pakistan Savory Snack Market Research Report
Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
Market dynamics which essentially consider the factors which are impelling the presentmarket scenario along with growth opportunities of the market in the years to come.
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects.
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
Competitive landscape involving the market share of major players along with the key strategies adopted for development in the past five years.
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major market players.
3 months analyst support along with the Market Estimates sheet in excel.
Customization of the Pakistan Savory Snack Market Research Report
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