(Source Inside Retail Asia | 4 April 2017)
China’s healthy snack trend is creating massive opportunities for FMCG companies and retailers according to a new report from research house Mintel.
While snacking is often thought of as an indulgent and convenient alternative to traditional meal times, many Chinese consumers are now focusing on their health. Mintel’s report reveals that four in 10 urban Chinese consumers eat more nuts and seeds today compared to six months ago. Pointing to the rise in popularity of these healthy snacks, 58 percent of consumers say that nuts and seeds taste good and 44 percent say they are convenient to eat, while only 9 percent say nuts and seeds are unhealthy.
It seems that nuts are high in demand in China as product launch activity is also on the rise. Mintel Global New Products Database (GNPD) reveals that 17.5 percent of snack products launched in China between 2014 and 2016 were nuts, compared to 15.3 percent of those launched globally.
The healthy snacking trend is contributing to the growing popularity of nuts and seeds in retail channels as well. In China’s retail snack market, nuts and seeds is the largest category, with a retail value of RMB263.7 billion (US$38.3 billion). Mintel forecasts the segment will grow at a CAGR of 10.7 per cent in value between 2015 and 2020, reaching RMB345.6 billion.
Ching Yang, senior food and drink analyst at Mintel, said Chinese consumers have become more aware of the health benefits of nuts and seeds.