Snack sales: Quadruple times faster emerging market growth expected through 2025

KUALA LUMPUR, Oct 9 -- Snack sales are expected to grow four times faster in emerging markets than developed countries over the next five years, according to global market research company, Euromonitor International.

In a new webinar, ‘Where Do We Go from Here? The Future of Snackification Beyond 2020’, Euromonitor International examines short, mid and long-term implications on snacking amid COVID-19.

With 20 per cent longer commutes on average than in developed countries, emerging markets will drive growth, recording an expected 14 per cent increase in snack sales through 2025.

“As economies reopen, product features that were deprioritised will resurge,” said Euromonitor International food and nutrition industry manager, Jared Koerten.

“SKU (stock keeping units) rationalisation poses a threat to innovation mid-term, as manufacturers streamline portfolios and focus on essential product lines.”

The number of online SKU across snack categories saw a drastic decline in early 2020 and remains significantly lower than pre-pandemic, according to Euromonitor International’s pricing intelligence solution Via.

-- BERNAMA