Salty Snacks - China - January 2014
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“The China snacks market has been growing rapidly over the past five years and this trend is expected to continue. There is still a considerable amount of room for development due to the current low per capita consumption of snacks in China, with future growth supported by China’s steady economic growth, the continuous increase in Chinese consumers’ disposable income, the increased importance of leisure, which typically lends itself to consumers eating more snacks, the development of online and offline shopping channels, and the growing emphasis that Chinese consumers place on eating healthy food.
As the snacks market covers a wide variety of snack types and is currently fragmented with a large number of domestic and international players competing against each other, manufacturers might consider adopting a multi-brand strategy to meet the demand for different types of snacking food from different consumer segments – depending on their respective attitudes towards salty snacks – so as to more effectively expand both business scope and consumer reach.
For companies dealing with nuts and seeds, the opportunity lies in premiumisation, as currently there are no leading brands playing in this area. Regarding crisps and other puffed snacks, the key challenge lies in product innovation with the aim of attracting more consumers with appealing flavours while at the same time providing safety and health assurances.”
– Laurel Gu – Senior Research Analyst
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