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Confectionery & Snacks - Mongolia

Mongolia
  • Revenue in the Confectionery & Snacks market amounts to US$528.60m in 2024. The market is expected to grow annually by 10.44% (CAGR 2024-2029).
  • In global comparison, most revenue is generated United States (US$135bn in 2024).
  • In relation to total population figures, per person revenues of US$151.30 are generated in 2024.
  • In the Confectionery & Snacks market, volume is expected to amount to 72.56m kg by 2029. The Confectionery & Snacks market is expected to show a volume growth of 4.0% in 2025.0.
  • The average volume per person in the Confectionery & Snacks market is expected to amount to 17.5kg in 2024.

Definition:

The Confectionery & Snacks market includes both confectionery and snacks subsegments. Confectionery is defined as foods with a relatively high sugar content, such as chocolate and chocolate products, sugar confectionery such as chewing gum, sweets, ice cream, preserved pastry goods and cakes. Snack Foods are typically eaten in between meals or as a quick bite.

Structure:

The market consists of two different submarkets:

  • The Confectionery market covers foods with a relatively high sugar content. This market is divided into four subsegments: chocolate confectionery, ice cream, preserved pastry goods and cakes and sugar confectionery.
  • The Snack Food market covers sweet, savory, and salty snacks. This market is divided into three submarkets: cookies and crackers, potato chips, tortilla chips, flips, and pretzels.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

In-Scope

  • Chocolate and sugar confectionery
  • Ice Cream
  • Cakes
  • Snack Food
  • Cookies and crackers

Out-Of-Scope

  • Chocolate/nut/nougat spreads
  • Peanut butter
  • Desserts
  • Out-of-home consumption
Confectionery & Snacks: market data & analysis - Cover

Market Insights report

Confectionery & Snacks: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Volume

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Price

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Sales Channels

    Most recent update: Nov 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Confectionery & Snacks Market in Mongolia is experiencing mild growth due to factors such as increasing disposable income, changing consumer preferences for indulgent snacks, and the convenience of online shopping. This growth is also driven by the growing urban population and the availability of a variety of confectionery and snack options. However, challenges such as high import costs and the preference for traditional snacks may impact the market's growth rate.

    Customer preferences:
    Consumers in Mongolia are showing a growing interest in healthier snack options, driven by an increasing focus on fitness and wellness. This has led to a rise in demand for snacks that are low in sugar, fat, and artificial ingredients. Additionally, there is a growing preference for snacks that are plant-based, organic, and made with natural ingredients. This shift towards healthier snacking options is influenced by the rising awareness of the importance of a balanced and nutritious diet, as well as the influence of Western health trends.

    Trends in the market:
    In Mongolia, the Confectionery & Snacks Market within The Food market is experiencing a rise in demand for healthier snack options, such as organic and natural products. This trend is driven by a growing awareness of the importance of healthy eating and a desire for more sustainable and ethical food choices. As a result, there is a growing market for niche products, such as vegan and gluten-free snacks. This trend is expected to continue, presenting opportunities for industry players to diversify their product offerings and cater to changing consumer preferences. Additionally, there is a rising trend of online sales and home delivery of snacks, as consumers seek convenience and safety during the pandemic. This shift towards e-commerce is likely to have long-term implications for the industry, as it opens up new distribution channels and expands market reach. Industry stakeholders should closely monitor these trends and adapt their strategies to capitalize on the opportunities presented by the changing market landscape.

    Local special circumstances:
    In Mongolia, the Confectionery & Snacks Market within The Food market is heavily influenced by the nomadic lifestyle of the population. Due to the vast and rugged terrain, traditional snacks like dried meats and dairy products are popular and readily available. Additionally, the country's harsh winters drive a demand for high-calorie snacks for sustained energy. This unique cultural context sets the Confectionery & Snacks Market in Mongolia apart from other markets and impacts consumer preferences and purchasing behavior.

    Underlying macroeconomic factors:
    The Confectionery & Snacks Market within The Food market in Mongolia is heavily influenced by macroeconomic factors such as consumer spending, inflation rates, and economic growth. As the economy continues to grow, consumers have more disposable income which leads to an increase in demand for confectionery and snack products. Additionally, government policies and regulations play a significant role in market performance, with favorable policies and investments in the food industry resulting in higher market growth. Furthermore, the growing population and changing consumer preferences towards healthier snack options are also driving the demand for innovative and healthier confectionery and snack products in Mongolia.

    Methodology

    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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    Confectionery & Snacks: market data & analysis - BackgroundConfectionery & Snacks: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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