SINGAPORE — Consumer intelligence firm NielsenIQ unveils its latest Unwrapping Opportunities in the Snackiverse: Asia Pacific State of Snacking 2024 Report, spotlighting the dynamic trends reshaping the $64-billion snacking and confectionery market.
From health-conscious options to mood-enhancing treats, brands are innovating to meet the evolving demands of a region that prizes convenience and variety. The report covers the latest trends in snacking and confectionery across the region, including the growing demand for healthier options and how brands are innovating to meet evolving consumer preferences.
Singapore emerges as the region’s snacking capital, with consumers spending an average of USD $121.30 per buyer in 2024—the highest in Asia Pacific and up from $119.30 in 2023. The city-state reflects broader APAC trends, where snacking is not just a habit but a lifestyle choice. Key growth categories include gum and candy (+18%), other snacks (+15%), and chocolates (+7%).
Across Southeast Asia, flavor preferences are just as diverse as the region itself. In Singapore, Original, Cheese, and Spicy top the charts, while Southeast Asia leans toward BBQ, Spicy, and Cheese—a testament to the region’s preference for bold and distinct flavors.
The report highlights a shift in consumer behavior, with 84% of respondents identifying convenience as the leading factor in snack choices. Health is increasingly being identified as a focus:
- 73% of consumers prefer snacks with low calories or healthier ingredients.
- 69% seek snacks that enhance mood, such ones that offer stress relief.
- 33% are turning to portion controlled snacks in a bid to keep health conscious
While health and variety reign, affordability remains critical. Price drops are the leading factor in brand choice. Online reviews, recommendations from family and friends, and offline visibility continue to drive product discovery, reflecting a hybrid approach to consumer engagement.
The confectionery industry in APAC is poised for even greater evolution, driven by a blend of indulgence and innovation. As consumers seek more personalized and health-conscious options, brands that adapt to these shifts will find themselves thriving in the vibrant Snackiverse.
For the full report, visit NielsenIQ’s website.
About NIQ
NielsenIQ (NIQ) is the world’s leading consumer intelligence company, delivering the most complete understanding of consumer buying behaviour and revealing new pathways to growth. NIQ combined with GfK in 2023, bringing together the two industry leaders with unparalleled global reach. Today, NIQ has operations in more than 95 countries covering 97% of GDP.
For more information, please visit www.niq.com.
