Japan’s savory snacks market expected to reach US$11.1bn in 2024, says GlobalData

The Japanese savory snacks sector is projected to grow from J¥1,067.4bn  (US$9.8bn) in 2019 to J¥1,059bn (US$11.1bn) in 2024 at a compound annual growth rate (CAGR) of -0.2%, says GlobalData, a leading data and analytics company.

GlobalData’s report, ‘Japan Savory snacks – Market Assessment and Forecasts to 2024’, reveals that the sector is majorly driven by the potato chips category, which is forecast to register the fastest value CAGR of 0.1% during 2019–2024. The category is followed by ethnic/traditional snacks and processed snacks, which is expected to record negative CAGRs of 0.17% and 0.18% respectively, during the next five years.

Sanchi Agarwal, Consumer Analyst at GlobalData, says: “The savory snacks sector in Japan is being driven by continuous innovation in terms of flavors and formulations to appeal to the young experimental consumers, who lead busy lives and try to fit more activities in their increasingly time scarce lives. However, a rapidly ageing population in Japan poses a challenge to the sector growth as older consumers often look for healthy and ‘better-for-you’ food options as against processed foods.”

“Hypermarkets & supermarkets’ was the leading distribution channel in the Japanese savory snacks sector in 2019. It was followed by convenience stores and department stores.

The per capita expenditure of savory snacks in Japan increased from US$67.8 in 2014 to US$78.1 in 2019, which was higher than both the global (US$21.3) and the regional (US$14.3) level. The per capita expenditure of savory snacks in Japan is expected to reach US$90.2 in 2024.

Calbee, Inc., Kameda Seika Co.,Ltd. and Sanko Seika were the top three companies in the Japanese savory snacks sector. Calbee and Sanko were the leading brands in the Japanese savory snacks sector in value terms in 2019.

Ms Agarwal concludes: “Currently, the proportion of over-65-years-olds in Japan is approximately one-fifth of the total population and is rapidly growing. Older consumers demand foods with health benefits, which snacks are rarely associated with. Moreover, snacking throughout the day has not been common in the past, which makes older consumers even less likely to purchase savory snacks. Thus, fortification or the use of healthier ingredients will be key for the savory snacks manufacturers when targeting this large and wealthy consumers’ groups.”

Media Enquiries

If you are a member of the press or media and require any further information, please get in touch, as we're very happy to help.



DECODED Your daily industry news round-up

This site is registered on wpml.org as a development site.