Market Trends of Pakistan Savory Snack Industry
Increasing Demand for Convenient Snacking Options
- Consumers in the country constantly seek convenient snacking options that are being upgraded by the major manufacturers operating in the studied market. The demand for convenient snacks is increasing due to changes in social and economic patterns, as well as increased expenditure on food and beverages. Convenient snacks, like potato chips, extruded snacks, nuts and seeds, and popcorn, are becoming extremely popular, especially among the working population of the country, the rising young generation of consumers, and the people living in hostels due to their hectic lifestyles.
- Furthermore, the prevalence of diabetes across the nation has encouraged many consumers to switch to savory snacking options. As per the World Bank data, approximately 30.8% of the population residing in Pakistan had diabetes in 2021. This factor is also expected to contribute to the market's growth. Moreover, the on-the-go snacking concept is linked to easy consumption. It is relatively easier to handle savory snacks like popcorn, and potato chips, to name a few.
- Also, popcorn, nuts and seeds, and extruded snacks can help prevent people from getting too hungry for junk foods, as these serve as ideal eatables between breaks or whenever they are hungry without having to cook every time. Savory snacking options help the consumers save time on cooking at home, especially in times of minor hunger urges, and also serve as convenient tiffin options for school/college-going children and even between work sessions.
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Supermarkets as the Fastest Growing Distribution Channel
- Consumers in urban areas have recently switched from traditional grocery stores to branded grocery chains due to changing consumer lifestyles, the availability of global brands, and technological interventions. This change in consumer behavior is, in turn, expected to drive the savory snack market through supermarkets. The segment accounts for a substantial share of the savory snack market, owing to its friendly format among consumers with a real feel of shopping experience.
- The supermarket/hypermarket channels are thus the foremost preference of the savory snack manufacturers to launch new products and increase their market share because of the increasing footfalls witnessed compared to other distribution channels.
- Moreover, the increasing market share of the hypermarket segment can be attributed to the consumers' practice of purchasing products in bulk and family packs. Consumers prefer making fewer trips to the stores to receive more value for their money, which, in turn, is increasing the sales of savory snacks via supermarkets/hypermarkets across the nation.
- Many supermarket chains have been expanding their presence across Asia, including Pakistan. As of 2021, there were 4 Carrefour outlets across Asia. Discount offers and ease of shopping have also attracted consumers to supermarkets. These factors are expected to drive the market's growth through supermarkets over the forecast period.
