Southeast Asia Savory Snacks Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Southeast Asia Savory Snacks Market is segmented by Product Type (Extruded Snacks, Meat Snacks, Popcorn, Fruit and Vegetable Snacks, Potato Chips, Nuts and Seeds, and Other Savory Snacks), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Channels, Specialty Stores, and Other Distribution Channels), and Geography.

Market Snapshot

South East Asia Savory Snacks Market
Study Period:

2016 - 2026

Base Year:

2020

CAGR:

10.8 %

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Market Overview

The Southeast Asian savory snacks market is projected to register a CAGR of 10.8% during the forecast period (2020 - 2025).

  • The market studied is driven by the increasing demand for convenience food products, along with an on-the-go trend for snacking options. Snack manufacturers in Southeast Asia are challenged by their competitors who come up with traditional and new flavors. ​
  • Indonesia held the largest share in the market studied, with an increasing consumer shift toward on-the-go consumption, owing to the growing urbanization and busy life schedules. Countries, like Singapore and Malaysia, are comparatively matured markets with higher frequencies of snacking.​
  • The most consumed snack type is nuts and seeds, which consist of sunflower seeds, pumpkin seeds, walnuts, and trail mixes, among others, driven by the health-conscious population. Popcorn is the fastest growing product type in the market studied, attributed by its presence in various leisure spots, coupled with the incorporation of various flavors and convenient packing.​

Scope of the Report

The report analyzes the market for savory snacks in major countries, such as Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam, and the Rest of Southeast Asia. ​The market by product type is segmented into extruded snacks, meat snacks, popcorn, fruit and vegetable snacks, potato chips, nuts and seeds, and other savory snacks.​ The market by distribution channel is further segmented into supermarkets/hypermarkets, convenience stores, online channels, specialty stores, and other distribution channels.

By Product Type
Extruded Snacks
Meat Snacks
Popcorn
Fruit and Vegetable Snacks
Potato Chips
Nuts and Seeds
Other Savory Snacks
By Distribution Channel
Spermarkets/Hypermarkets
Convenience Stores
Online Retail Stores
Specialty Stores
Other Distribution Channels
Geography
Indonesia
Malaysia
Vietnam
Thailand
Philippines
Myanmar
Singapore
Rest of Southeast Asia

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Key Market Trends

Growing Demand for Low Sodium Snacks

High sodium intake from foods is linked to high blood pressure. Increased dietary sodium intake is a risk factor for cardiovascular diseases. Dietary data suggest that sodium intake in most SEA countries exceeded the WHO recommendation of 2 g/day. ​With growing concerns, governments are introducing national policies to promote healthy eating and active lifestyles. In Singapore, the Health Promotion Board is working with industry partners to lower the sodium content of packaged foods and to develop a “healthier salt” containing 25% less sodium than regular salt.​ Regulations and changing consumer appetites have come together to demand greater innovation for low sodium snacks by retaining the taste. Thus, various local and global players have started showcasing their products with no sodium or low sodium labels.​ For instance, Griffith Foods, based in the United States, is offering its products in Southeast Asia with its new portfolio, featuring claims, such as 50% sodium reduction to no added sodium.

SEA Savory Snacks Market trend2

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Growing Consumer Inclination Toward Extruded Snacks

The presence of multiple brands and players introducing extruded snacks is catering to the market demand for this type of savory snacks. ​For instance, Chheda's Nylon Sev is a type of savory snack made from gram flour. The ingredients are pushed through minute sieves, making them look like threads of nylon, and it is a suitable savory snack to consume at teatime. Such products are found on online sites to meet the needs of consumers across the country. The extruded savory snacks such as crisps are also available in unique flavors to attract consumers. For instance, Taro Net offers extruded snacks with a combination of salty taste and potato BBQ flavor to provide consumers the experience of foreign food.​ Further, in countries like Malaysia, extruded snacks are quite popular due to the presence of local players offering the products. For instance, Miaow Miaow Food Products Sdn Bhd, a Malaysian snack food manufacturer, offers a range of healthier extrusion snacks according to consumer preferences.

Southeast Asia Savory Snacks Market trend2

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Competitive Landscape

The innovation of products and intense promotion activities through television and digital media platforms are the key strategies adopted by players in the fragmented SEA savory snacks market.​ The companies are also adopting expansion and partnership strategies to expand their businesses across the country. For example, in June 2018, CVC Capital Partners invested in PT GarudaFood Putra Putri Jaya, one of the popular snack manufacturers in Indonesia. The company invested USD 150 million in GarudaFood to deepen its exposure to the fast-growing snack market in Indonesia.​ Similarly, at the start of 2016, Munchy Food Industries, the Malaysia-based snacks and confectionery group, invested in a manufacturing plant in Jakarta. Such strategies enable companies to establish local production and produce snacks sold at lower prices while gaining a competitive edge in the market.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Extruded Snacks

      2. 5.1.2 Meat Snacks

      3. 5.1.3 Popcorn

      4. 5.1.4 Fruit and Vegetable Snacks

      5. 5.1.5 Potato Chips

      6. 5.1.6 Nuts and Seeds

      7. 5.1.7 Other Savory Snacks

    2. 5.2 By Distribution Channel

      1. 5.2.1 Spermarkets/Hypermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Online Retail Stores

      4. 5.2.4 Specialty Stores

      5. 5.2.5 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 Indonesia

      2. 5.3.2 Malaysia

      3. 5.3.3 Vietnam

      4. 5.3.4 Thailand

      5. 5.3.5 Philippines

      6. 5.3.6 Myanmar

      7. 5.3.7 Singapore

      8. 5.3.8 Rest of Southeast Asia

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Griffith Foods

      2. 6.4.2 Kay's Naturals

      3. 6.4.3 Mondelez International

      4. 6.4.4 PepsiCo Inc.

      5. 6.4.5 VinaMit JSC

      6. 6.4.6 Seng Hua Heng Foodstuffs Pte Ltd

      7. 6.4.7 Garuda Food

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The SEA Savory Snacks Market market is studied from 2016 - 2026.

The SEA Savory Snacks Market is growing at a CAGR of 10.8% over the next 5 years.

  • Mondelēz International
  • Griffith Foods
  • Kay's Naturals
  • PepsiCo Inc.
  • Garuda Food

Are the major companies operating in SEA Savory Snacks Market.

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