Snack facts: Mondelez reveals the major trends driving growth across the category
Well-being, digital advancement, localization and speed are amongst the major trends and opportunities that global snack manufacturing giant Mondelez has identified as crucial to shaping the future of snacks in APAC and beyond.
According to Mondelez International Senior Vice President for Growth Asia Pacific, Middle East and Africa (AMEA) Glenn Caton, the value of the global snacking market currently stands at some US$1.2tn, and in AMEA the snacks market makes up some 22% of Mondelez’s global net revenue (US$5bn).
“The growth rate of the snacks market in AMEA is already outstripping that of global growth, [spearheaded] by rapid population increase and wealth growth in the region,” he said.
Salty snacking: APAC takes four of top five rankings for global product launches
The Asia Pacific region has emerged as a global leader in salty snacking markets and innovation, claiming four of the top five spots for salty snacks product launches last year.
Data from the Mintel Global New Products Database (GNPD) has revealed that China, India, Indonesia and Japan ranked first, third, fourth and fifth respectively in term of salty snacking product launches in 2018.
China outstripped its closest competitor the United States by far with 11% of total launches as opposed to the latter’s 8%, followed by India’s 7% and Indonesia and Japan both at 5%.
“Asia, particularly China, is currently driving the global snack industry,” said Mintel Food and Drink Director of Insight Marcia Mogelonsky said.
Mondelēz, Yili and Danone share three need-to-know trends dominating APAC's food and beverage industry
F&B industry leaders from around the globe have identified speed of change, localisation, and influencing consumer behaviour as three major opportunities and challenges in the industry today.
Convening at a panel at the Food Industry Asia (FIA) Summit 2019, the leaders were Maurizio Brusadelli (Mondelēz International Executive VP & President, AMEA), Pascal De Petrini (Danone SVP, Non-Executive Chairman Asia), T.C. Chatterjee (Griffith Foods CEO), Jocelyn Chng (JR Group GCEO), Franck Monmont (Cargill MD, Starches, Sweeteners and Texturizers, Asia) and Yun Zhanyou (Inner Mongolia Yili Industrial Group Assistant President).
Affordable lab-grown meat: India looks to become global cell-based meat hub
The world’s first research centre focused on research and development in the cell-based meat category has been announced in Maharashtra, India, with the first phase set to open by 2020.
Dubbed the Centre of Excellence in Cellular Agriculture, the facility is a collaborative effort by the Good Food Institute (GFI) India and the Institute of Chemical Technology (ICT) Mumbai.
“From a broad perspective, the goal [of the institute] has always been to think of India as a manufacturing and scale-up hub [for cell-based meat], and to reduce the barriers to entry for cell-based meat [into the market],” GFI India Managing Director Varun Deshpande told FoodNavigator-Asia.
‘All time high’: No end to Asia’s cocoa craze as Olam lists three factors driving market growth
With Asia’s interest in cocoa and chocolate at an ‘all time high’, Olam Cocoa has identified three key factors fuelling the region’s rising demand which looks set for continued increase across the next five years.
According to the Olam Cocoa researchers, chocolate demand at a global level will continue to rise across the next five years due to a ‘positive economic outlook which leads to higher levels of disposable income that can be spent on treat purchases’.
“In 2018, global chocolate consumption was recorded at 6 million metric tonnes, an increase of 2.5% over the past five years. A massive driver of this global demand for chocolate comes from Asia.” they said.
