Having seen strong growth up until 2019, buoyed by strong macroeconomic growth, an expanding middle class, urbanisation and a youthful population, sales of snacks stalled following the outbreak of COVID-19 in 2020. Nevertheless, the success of Cambodia’s vaccination programme has provided hope of a recovery in 2021, despite a rise in COVID-19...
Western food trends, the entry of more women into the workforce and the expansion of chained supermarkets and hypermarkets supports the popularity of snacks, especially in urban areas. However, high unemployment rates and pre-pandemic economic uncertainty hindered consumers from spending on non-essentials, resulting in waning demand before...
Having declined during 2020, retail volume sales of snacks will return to growth during 2021, as restrictions on movement are relaxed and the economic shock of the pandemic begins to fade. Confectionery, particularly chocolate confectionery, and ice cream were particularly hard hit by the pandemic, as they are generally regarded as luxuries,...
Economic growth and an expanding urban middle class supported strong growth in sales of snacks for much of the review period, although low disposable incomes in rural areas hinder demand and many consumers save their money for basic essentials. The COVID-19 pandemic in 2020 hit sales badly, with foodservice volume plummeting and retail volume...
Sri Lanka has a strong snacking culture and this has been boosted by the outbreak of COVID-19 with consumers forced to spend more time at home during 2020/2021. Despite rising health concerns many people continue to indulge their children with snacks, with many products receiving widespread distribution in both urban and rural areas. While...
Retail volume sales of snacks continued to expand in 2020, in spite of disruption arising from COVID-19, with demand for sweet biscuits and savoury snacks particularly strong. However, retail volume sales of confectionery declined, while those of ice cream were flat because these products are perceived more as indulgences by local consumers....
Laos was relatively successful in containing COVID-19 but the measures taken have put a strain on the local economy with widespread job losses and falling income. This continues to be reflected in slower growth in snacks in 2021, although many of these products remain popular, especially among the core base of mid- high-income urban consumers....
Polarisation was the key trend in snacks in Iraq in 2020 and 2021 as consumers gravitated towards either the cheapest options available or premium imported brands. Although the security situation has improved considerably, the COVID-19 situation placed pressure on sales of snacks due to social restrictions and the adverse economic impact of...
Prior to the onset of the pandemic, retail volume sales of snacks had exhibited strong growth due to the expansion of the country’s middle class, but the economic shock of COVID-19 brought this to a halt during 2020, with ice cream performing particularly badly. Demand for savoury and sweet biscuits proved to be fairly robust, although many...
There was a sharp decline in retail volume sales of snacks in Ghana during 2020, as real GDP growth slowed to its lowest rate in almost four decades due to disruption arising from COVID-19. Snacks are regarded as a luxury by most local consumers, so many responded to the pandemic by reducing their spending on these products. Retail volume...