The snacking and confectionery market across Asia Pacific (APAC) is experiencing rapid growth, with a 10% increase in both volume and value in 2024. According to NielsenIQ’s new Unwrapping Opportunities in the Snackiverse: Asia Pacific State of Snacking 2024 Report, the market is valued at US$64 billion, representing a significant opportunity for brands.
In Singapore, consumers lead the region in annual snacking expenditures, spending an average of US$121.30 per buyer in 2024. Across APAC, the snacking landscape is evolving, shaped by demands for convenience, healthier choices and a strong interest in exploring new options, with 73% of consumers eager to try new brands and products. This curiosity is fueled by a diverse array of key discovery channels, including online reviews (38%), recommendations from family and friends (36%) and offline visibility (31%).
Some key findings from the report include:
- Convenience, health consciousness, and mood-boosting snacks are shaping consumer choices in APAC
- Convenience stands out as the top priority for APAC’ consumers when choosing snacks and confectionery, with 84% emphasising its importance. This is followed by a preference for low-calorie options and snacks with healthier ingredients (73%) as well as mood-enhancing options, such as stress-relieving snacks (69%).
- Portion-controlled snacks are becoming an increasingly popular choice among APAC consumers, with 33% incorporating portion-controlled meal kits or prepared foods into their snacking routines.
- Consumer preferences for healthier snacks vary significantly across age groups:
- Boomers (60+ years) prioritise low-sugar options over low-calorie snacks or those with healthier ingredients, reflecting a focus on managing specific health concerns.
- Millennials (28-43 years) value snacks with enhanced flavour, high fibre and functional benefits, ranking these attributes above low-sugar options as they balance health with versatility.
- Gen Z (18-27 years) seeks snacks that improve mood, deliver bold flavors and offer unique varieties, aligning with their desire for emotional well-being along with novelty.
- Health-conscious snacking fuels industry evolution across APAC
- The confectionery industry in APAC is expected to expand its range of health-oriented products in response to the growing demand for healthier options among consumers.
- The increasing popularity of protein snacks and new protein product lines by brands is leading to increased diversification beyond bars to include chips, ice cream, cookies and more.
- Singapore tops APAC in snack spending
- Singapore leads Asia in snacking and confectionery trends, with consumers spending an average of USD $121.30 per buyer in 2024—the highest in the region and an increase from USD $119.30 in 2023.
- This growth is fuelled by strong performance in key categories, including gum and candy (+18%), other snacks (+15%) and chocolates (+7%) in the same time period.
- Beyond health, variety is key, with 62% of APAC consumers placing a high value on unique snack options. In Singapore, Original, Cheese and Spicy flavours were reported as top choices for snacks, while BBQ, Spicy and Cheese flavours dominated Southeast Asia.
- Price sensitivity remains a major factor in decision-making among locals, with price drops being the leading influence on brand choice.
To download the report, please visit NielsenIQ’s website here.
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