Key regions: Philippines, South Korea, Canada, Japan, China
The Confectionery & Snacks market in China's food industry has been steadily growing due to factors such as increasing disposable income, changing consumer preferences, and the availability of a wide range of options in both sub-markets. However, the overall growth rate remains minimal, possibly due to the rising health consciousness among consumers and the presence of healthier snack alternatives.
Customer preferences: Consumers in China are becoming more health-conscious, driving the demand for healthier snacks and confectionery products. This trend is fueled by the growing awareness about the negative health impacts of excessive sugar and fat consumption. In response, manufacturers are introducing innovative low-sugar and low-fat options to cater to this evolving preference. Additionally, with the rise of e-commerce and online shopping, consumers are increasingly turning to online platforms to purchase snacks and confectionery, creating opportunities for online retailers and food delivery services to expand their offerings and reach.
Trends in the market: In China, the Confectionery & Snacks Market within The Food market is seeing a shift towards healthier options, driven by increasing health consciousness among consumers. This trend has led to the rise of organic and natural snacks, as well as the use of alternative sweeteners such as stevia. Additionally, there is a growing demand for functional snacks that provide added health benefits, such as protein bars and energy-boosting snacks. This trend is expected to continue, as consumers are becoming more aware of the impact of their food choices on their overall health. This presents opportunities for industry stakeholders to innovate and cater to the evolving preferences of Chinese consumers.
Local special circumstances: In China, the Confectionery & Snacks market is heavily influenced by cultural preferences for traditional Chinese flavors and ingredients such as red bean, green tea, and lychee. The country's large population and growing middle class have also led to a demand for healthier snack options, driving the growth of organic and natural products. Additionally, the Chinese government's regulations on food safety and labeling have a significant impact on the market, as consumers increasingly prioritize food safety and transparency in their purchasing decisions. These unique factors in China set it apart from other markets and greatly shape the dynamics of the Confectionery & Snacks market within The Food market industry.
Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in China is impacted by several macroeconomic factors. The country's rapidly growing economy, coupled with increasing disposable income and a large population, is driving demand for convenient and indulgent food products. Moreover, favorable government policies and investments in the food industry are fueling market growth. However, the rising health concerns and growing preference for healthy snacking options are also influencing market dynamics. As a result, manufacturers are investing in innovative and healthier product offerings to cater to changing consumer preferences. Additionally, the increasing urbanization and the growing trend of online retailing are further propelling the growth of the Confectionery & Snacks Market in China.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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