Snacks are ready-to-eat foods typically excessive in oil and flavored with salty seasonings. They are a popular food supply in the market. Consumers commonly purchase snacks to eat between two primary meals. Snack foods may have attributes that include being healthy or simply having fun. They are a giant part of the food industry. Snacks come in numerous forms, like packaged snack ingredients, other processed ingredients, and items crafted from fresh ingredients at home. Snacking Made Right Report 2022 by Mondelez International states that 70% of customers worldwide enjoy snacks at least twice an afternoon. The document also discovered that purchasers are increasingly changing conventional meals with snacks, with 60% of respondents choosing a snack instead of dinner, a tremendous growth from 46% in 2020.
China Snacks Food Market Trends
Growth in the popularity of meat snacks in China Snacks Food Industry
China is a vast nation. Chinese customers spend hours (or even days) on trains. Meat snacks have come to be a regular item. This is adding to the growth within the China snacks food market. With China’s second and third-tier cities increasingly experiencing the cutting-edge, speedy-paced life of the country’s essential cities further east, the demand for meat-based snacks (that also can be used within the kitchen) seems to continue growing notably. Beef jerky and chicken feet are the most famous. High-earners choose high-protein meat snacks. Meat snack merchandise is popular amongst younger masses, especially those with particular dietary options for excessive protein and low-fat products. The USDA states that meat snack sales have grown over the last years and are expected to reach more than 14% of overall product income in 2023.Healthy Food Consumption in the Chinese Snacks Food Market
Consumer fitness attention has expanded. Low-sugar, low-fat, fewer additives and preservative-free snack ingredients are becoming more famous in the China snacks food market. CBNData research report said that customers favored healthier, nutritionally dense snacks with lower fat content or rich in good fat. Based on customers ' notions, the top three healthy snack categories are roasted nuts, seeds, and fruits at 72%, braised meat at 55%, and pastries at 43%. Better-knowledgeable Chinese consumers pay more strict attention to product component lists and are willing to choose foods with simple substances. Snack ingredients with health-promoting additives, which include nuts seasoned with probiotics or DHA-enriched pastries, are becoming more popular. A current survey conducted by Ipsos revealed that 84% of 3,000 survey respondents aged 18-65 from tier 1-3 towns reported that they are paying greater interest to their fitness now. People aged 25 or above especially showed growing attention and satisfaction with their modern fitness condition. The trend of healthy meal intake is propelling the China snacks food market.Growth of the Generation Z (aged 16 to 24 years) Consumers
China’s Gen Zers are redefining the China snacks food market. Convenience is a trait that most of China’s younger consumers are seeking out. This is partially because Gen Z is becoming the job market's essential force. The notorious overwork lifestyle or 996 (a work schedule where the workforce starts working from 9 am to 9 pm six days a week) has squeezed the mealtime of employees. Therefore, meals that are convenient to prepare or contain minimum effort don’t take too much time to eat, catering to the short-paced life of most of China’s Gen Z. For example, in 2021, LIVEKINDLY Collective announced its launch in China with new flagship brands, Giggling Pig 咯咭藸 [Ge Ji Zhu] and Happy Chicken 哈皮鸡 [Ha Pi Ji]. Both have been advanced and manufactured domestically to cater to Chinese GenZ patron tastes and are the first brands created in-house by LIVEKINDLY Collective.Increase in the Distribution Channels
The boom in the diverse sales channels is propelling the China snacks food market. The USDA stated that approximately 80% of snack foods are bought offline, with retail chains accounting for over 40%. The snack retail channel is also developing in recognition. It is intently associated with its diverse product classes, cost-effective commodity, and comfortable and convenient consumption experience. According to a study this kind of offline store reached close to 13K in 2022 and is projected to reach 30K-45,K in 2025. The pandemic extended retail digitalization in China and e-trade snack food sales are developing. E-commerce platforms like TikTok (Dou Yin) are a new increase platform for the Chinese snack food industry.China Snacks Food Company News
PepsiCo China Limited, Nestle SA, General Mills Inc., Conagra Brands Inc., Unilever, Mondelez International, Inc., and Tyson Foods, Inc. are among the major businesses in the China snacks food market.In January 2024 - Mars China recently announced that it would launch a new variant of the SNICKERS bar featuring dark chocolate cereal.
In February 2024 - Hsu Fu Chi, a renowned Chinese snack brand, recently announced that its sweets and pastry products are now on sale at Costco stores throughout the Bay Area in the United States. This marks a significant leap for the snack giant in its efforts to enter the mainstream American market.
In April 2024 - Montdelez International Inc. expanded into China with a 53 Million Yuan ($7.34 million) investment in an intelligent warehousing center in Beijing. The company plans to introduce European-brand French desserts in China in the second half of this year, aiming to strengthen its foothold in the market.
In November 2023 - Leading Chinese snack mass retail stores Busy for You and Super Ming announced a strategic merger.
In February 2020 - PepsiCo will acquire Be & Cheery, a leading online snacks company in China, for $705 million.
Products - Market breakup in 3 viewpoints:
1. Cookies & Crackers1.1 Bar Cookies
1.1 Molded Cookies
1.1 Rolled Cookies
1.1 Drop Cookies
1.1 Others
2. Potato Chips
2.1 Organic
2.2 Conventional
3. Tortilla Chips, Flips & Pretzels
3.1 Salted
3.2 Unsalted
Distribution Channels - Market breakup in 4 viewpoints:
1. Supermarket & Hypermarkets2. Convenience Stores
3. Online Retails
4. Others
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. PepsiCo China Limited2. Nestle SA
3. General Mills Inc.
4. Conagra Brands Inc.
5. Unilever
6. Mondelez International, Inc.
7. Tyson Foods, Inc.
Table of Contents
Companies Mentioned
- PepsiCo China Limited
- Nestle SA
- General Mills Inc.
- Conagra Brands Inc.
- Unilever
- Mondelez International, Inc.
- Tyson Foods, Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | May 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 125 Billion |
| Forecasted Market Value ( USD | $ 196.3 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | China |
| No. of Companies Mentioned | 7 |
