The Asia Pacific snacks market reached around USD 660.73 Billion in 2024. The market is projected to grow at a CAGR of 3.70% between 2025 and 2034 to reach nearly USD 950.19 Billion by 2034.
Asia Pacific Snacks Market Growth
As per the market analysis, there are significant differences between snacking habits and preferences of Chinese consumers as compared to the rest of the world. For instance, Chinese people consume fewer snacks (merely 7 kgs) as compared to their counterparts in countries such as Japan (18 kg), the United Kingdom (36 kg), and the United States (42 kg) annually. While the average per capita consumption of almonds worldwide is 170 grams, an average Chinese individual consumes 30 grams of almonds annually, which is significantly lower than consumers living in Japan (260 grams) and the United States (1070 grams). This is expected to prompt market players to introduce healthy nut-based snacks, thereby accelerating the market development.
The penetration, frequency, and monetary value of snacks in Australia have soared by over 400% in recent times. Vegetable snacks have captured most consumer attention, with nearly 37% of Australians consuming cucumber snacks and 35% of them consuming celery. The shift towards healthy eating is expected to play a critical role in driving market growth over the forecast period.
Key Trends and Developments
Increasing demand for sugar-free products in China; rising proportion of young, middle-class consumers in Vietnam's population; limited edition collaborations; and the growing adoption of sustainable and ethical practices are favouring the Asia Pacific snacks market expansion
September 2024
Mondelez International Inc. acquired a Chinese behemoth of frozen cakes and pastries, Evirth, where it already held a minority stake. This is expected to substantially increase its product demand in China, where bakery products are expected to witness a double-digit growth in demand.
August 2024
Mars, Incorporated, a leading family-owned business engaged in providing food products and pet care essentials, announced its decision to acquire Kellanova for a total amount of $35.9 billion. In 2023, Kellanova generated a net sales revenue of over $13 billion from 180 countries worldwide. This is expected to bolster Mars, Incorporated’s portfolio of sustainable snacking products in major regional markets, such as the Asia Pacific.
October 2023
TNA Solutions established a new confectionery manufacturing facility in Sydney (Australia) to provide robust packaging and processing solutions to various confectionery and nutraceutical companies.
April 2021
Nestle inaugurated a new production facility in Shah Alam, Malaysia, which is expected to produce 8000 tons of plant-based foods (such as mince, schnitzels, and plant-based burgers, among others) under the brand name, Harvest Gourmet.
Increasing demand for sugar-free products in China
As an increasing number of people are pursuing active lifestyles, the demand for low-sugar/ no-sugar products has surged dramatically in China. For instance, between January and October 2022, Pepsico Inc. recorded a 132% jump in the sale of low-sugar colas in China, indicating a sustained demand for less sweet beverage products.
Rising proportion of young, middle-class consumers in Vietnam’s population
By 2030, the size of Vietnam’s middle-class population is expected to reach 95 million. As per the United Nations fund, 25% of Vietnam’s population is aged between 16-30 years, and over 20% of them are aged below 14 years.
Limited edition collaborations
Many snacking companies are introducing limited edition snacking products to experiment with new flavours and ingredients. By partnering up with local influencers and artists, they are introducing unique packaging for snacking products, which enhances their consumer appeal by generating a sense of exclusivity.
Growing adoption of sustainable and ethical practices
Major companies in the market are actively engaging in responsible sourcing of food ingredients to ensure proper supply chain management that adheres to the principles of environmental sustainability, apart from ensuring fair labour practices. These efforts are enhancing brand reputation and attracting more consumers towards different companies.
Asia Pacific Snacks Market Trends
Vietnam is expected to emerge as one of the fastest-growing markets for snacking products. This can be attributed to the increasing appetite for small-portion meals among younger consumers, who spend around $0.70 per snack. Additionally, snacking is seen as an effective way to improve mood levels by 79% of people worldwide, and there has been a notable shift in healthy snacking behaviours among people, which is expected to drive the market growth.
Asia Pacific Snacks Industry Segmentation
The EMR’s report titled “Asia Pacific Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
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