Customers buy snack at the supermarket. Snacks are replacing traditional meals. (Photo: Internet)HCM City (VNS/VNA) - Snacksare replacing traditional meals as busy modern life changes consumer behaviour,making the snack market lucrative globally including in Vietnam, expertssaid.
A survey of the market by The Harris Poll and MondelezInternational in 12 countries found six out of 10 preferring to eatmany small meals throughout the day as opposed to a few larger ones.
That number rises to seven in 10 among millennials.
About 76 percent of parents use snacks to pass culturalsnacking rituals on to their children.
In the Vietnamese market, snacks aresold at both traditional retail shops and convenience stores.
Last year Nielsen released a reporton 2017 which said while the fast-moving consumer goods (FMCG) segment sawvolatility in sales growth, one category showing ample growth opportunity wassnack foods.
Nielsen surveyed both traditionaland modern trade channels and found that the sales of food increased by 7 percentand contributed 16.3 percent to total FMCG sales.
However, a closer look found thegrowth of regular categories like instant noodles, soy and oyster sauce, fishsauce, and MSG was not as fast compared to impulse categories such as biscuits,cake pies and snacks, especially snacks which grew at 21 percent.
A company executive said: “Snacksfoods in many markets around the globe enjoyed significant growth thanks toincreased appetite for snacking products. This impressive growth in so-calledindulgence or non-essential categories is a good indicator that consumers inmany countries are willing and ready to spend beyond the daily necessities,creating a good opportunity for FMCG companies in these markets.”
According to a recent study byKantar Worldpanel, which deals in consumer knowledge and insights based oncontinuous consumer panels, the Vietnamese snack market, which was valued at 518 million USD in 2015, is expected to grow to 1 billion USD by 2020.
A seller in District 7 said snacksales are increasing as students and office workers buy to eat during breaks.
He also said that the market isbecoming increasingly diverse with many new products being launched by bothdomestic and foreign companies.
Snack company Mondelez Kinh Do saidthere an increasing number of people in Vietnam, especially youths, arelooking for high-quality and more convenient products, and willing to spendmore on certain high-value foods.
Besides, the rising number of womenin the workforce leads to increased snacking behaviour while working mothersneed products and brands that they feel comfortable about giving theirchildren, the company said.
The company’s managing director,Hemant Rupani, said the Vietnam snack market has great potential. Seeing this,the company is researching to bring new products, including some madeexclusively for the country, he said, adding it is also expanding to ruralareas.
A woman who asked not to benamed told Viet Nam News since she is very busy and herchildren have many classes to attend snacks are a good choice for both.
“Sometimes I don’t have time togo to the market or cook, and so snacks are good for us. There are many goodsnacks.
“Besides, manufacturers have startedto make snacks that are good for people’s health like low-calorie items andsnacks for people with diabetes.”
The Vietnamese market has attractedforeign companies from all over the world./.
VNA
