Tuesday, September 17, 2019

Growth in snacking segment in Asia

Sep 12. 2019
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By The Nation

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The snacking segment is currently valued at more than US$139.4 billion in the Asia Pacific region alone and over the next four years it is expected to grow by 12 per cent  as consumers increasingly seek healthier snacking options at more times throughout the day. NZMP, Fonterra’s global ingredients and solutions business, is set to showcase how its world-class dairy ingredients and insights meet this growing trend at the Food Ingredients Asia (Fi Asia) trade show at Bangkok International Trade & Exhibition Centre on 11 – 13 September 2019.

 

Globally 61 per cent of consumers enjoy snacking between meals , while 26 per cent of Thai consumers eat snacks as a dinner replacement, and 45 per cent are paying more attention to the nutritional value in the snacks they eat[3]. As a result, the snacking segment in Thailand is expected to grow by almost 15 per cent over the next four years to be valued at more than US$3.5 billion[4].

 

NZMP’s General Manager for South & East Asia, Hamish Gowans, explained, “The ‘snackification’ trend has evolved to become a stand-alone consumption occasion as people replace traditional meal times with regular snacking, and demand for more nutritious options drives growth.

 

“Previously snacking was driven by convenience, however today’s consumers are also seeking food and beverage options with natural ingredients, minimal additives a clearly stated origin, that sustains them for longer and supports their dietary and exercise goals,” said Mr Gowans.

 

As the population across Asia ages there is an increasing awareness of the importance of healthy and active lifestyles with consumers increasingly conscious of their food choices and exercising more.

 

 

 

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