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,...
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....
During 2020 snacks sales slowed as consumption of products bought on impulse and consumption on the go halted. However, as restrictions ease in 2021, demand will see some recovery. Ice cream and savoury snacks will enjoy the strongest growth rates benefiting from both rising consumption outside the home as well as at home. Consumer lifestyles,...
Sales of snacks are set to see modest growth in 2021. Lengthy periods spent at home during the pandemic favoured tortilla chips, potato chips, cookies, and plain biscuits. Moreover, the loosening of restrictions in 2021 will aid recovery of ice cream outside the home. Once COVID-19 recedes, market stimulation will come from Westernisation,...
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 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...
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...
Snacks have been benefiting from urbanisation and an expanding mid-income group in Bangladesh, with consumers attracted to the growing range of flavours and formats from both local and international players. Nonetheless, distribution for many products still remains limited to urban areas while the category also faces stiff competition from...
Due to an expected easing of COVID-19 restrictions in 2021, the snacks market is set to record positive growth in 2021 after experiencing a contraction in 2020. Nonetheless, poverty and income inequality are being exacerbated by the pandemic with disposable incomes on the decline. As a result, the consumer base for snacks remains small, comprised...
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...