Asia Pacific Snacks Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The Asia Pacific snacks market reached around USD 660.73 Billion in 2024. The market is projected to grow at a CAGR of 3.70% between 2025 and 2034 to reach nearly USD 950.19 Billion by 2034.

Asia Pacific Snacks Market Growth

As per the market analysis, there are significant differences between snacking habits and preferences of Chinese consumers as compared to the rest of the world. For instance, Chinese people consume fewer snacks (merely 7 kgs) as compared to their counterparts in countries such as Japan (18 kg), the United Kingdom (36 kg), and the United States (42 kg) annually. While the average per capita consumption of almonds worldwide is 170 grams, an average Chinese individual consumes 30 grams of almonds annually, which is significantly lower than consumers living in Japan (260 grams) and the United States (1070 grams). This is expected to prompt market players to introduce healthy nut-based snacks, thereby accelerating the market development.

The penetration, frequency, and monetary value of snacks in Australia have soared by over 400% in recent times. Vegetable snacks have captured most consumer attention, with nearly 37% of Australians consuming cucumber snacks and 35% of them consuming celery. The shift towards healthy eating is expected to play a critical role in driving market growth over the forecast period.

Key Trends and Developments

Increasing demand for sugar-free products in China; rising proportion of young, middle-class consumers in Vietnam's population; limited edition collaborations; and the growing adoption of sustainable and ethical practices are favouring the Asia Pacific snacks market expansion

September 2024

Mondelez International Inc. acquired a Chinese behemoth of frozen cakes and pastries, Evirth, where it already held a minority stake. This is expected to substantially increase its product demand in China, where bakery products are expected to witness a double-digit growth in demand.

August 2024

Mars, Incorporated, a leading family-owned business engaged in providing food products and pet care essentials, announced its decision to acquire Kellanova for a total amount of $35.9 billion. In 2023, Kellanova generated a net sales revenue of over $13 billion from 180 countries worldwide. This is expected to bolster Mars, Incorporated’s portfolio of sustainable snacking products in major regional markets, such as the Asia Pacific.

October 2023

TNA Solutions established a new confectionery manufacturing facility in Sydney (Australia) to provide robust packaging and processing solutions to various confectionery and nutraceutical companies.

April 2021

Nestle inaugurated a new production facility in Shah Alam, Malaysia, which is expected to produce 8000 tons of plant-based foods (such as mince, schnitzels, and plant-based burgers, among others) under the brand name, Harvest Gourmet.

Increasing demand for sugar-free products in China

As an increasing number of people are pursuing active lifestyles, the demand for low-sugar/ no-sugar products has surged dramatically in China. For instance, between January and October 2022, Pepsico Inc. recorded a 132% jump in the sale of low-sugar colas in China, indicating a sustained demand for less sweet beverage products.

Rising proportion of young, middle-class consumers in Vietnam’s population

By 2030, the size of Vietnam’s middle-class population is expected to reach 95 million. As per the United Nations fund, 25% of Vietnam’s population is aged between 16-30 years, and over 20% of them are aged below 14 years.

Limited edition collaborations

Many snacking companies are introducing limited edition snacking products to experiment with new flavours and ingredients. By partnering up with local influencers and artists, they are introducing unique packaging for snacking products, which enhances their consumer appeal by generating a sense of exclusivity.

Growing adoption of sustainable and ethical practices

Major companies in the market are actively engaging in responsible sourcing of food ingredients to ensure proper supply chain management that adheres to the principles of environmental sustainability, apart from ensuring fair labour practices. These efforts are enhancing brand reputation and attracting more consumers towards different companies.

Asia Pacific Snacks Market Trends

Vietnam is expected to emerge as one of the fastest-growing markets for snacking products. This can be attributed to the increasing appetite for small-portion meals among younger consumers, who spend around $0.70 per snack. Additionally, snacking is seen as an effective way to improve mood levels by 79% of people worldwide, and there has been a notable shift in healthy snacking behaviours among people, which is expected to drive the market growth.

Asia Pacific Snacks Industry Segmentation

The report titled “Asia Pacific Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Bakery Snacks
• Confectionery Snacks
• Frozen Snacks
• Fruit Snacks
• Others

Market Breakup by Distribution Channel

• Hypermarkets/Supermarkets
• Convenience Stores
• Online Channels
• Others

Market Breakup by Country

• China
• Japan
• India
• ASEAN
• Australia
• Others

Asia Pacific Snacks Market Share

Based on country, the market is segmented into China, India, Japan, ASEAN, and Australia, among others. India dominated the market, representing 12% of the overall market share in 2023. Over the forecast period of 2025-2034, India is expected to grow at a CAGR of 4.2% as the demand for healthy snacking products such as roasted makhanas and peanuts, and organic chocolate soars.

Leading Companies in the Asia Pacific Snacks Market

Major market players are focusing on solidifying their market competitiveness in existing business fields while continuously developing new businesses and reinforcing their overseas operations.

Kellanova

Kellanova was founded in 2023 and is headquartered in Chicago, Illinois (USA). Through its strategy of Differentiate, Drive, and Deliver, it aims to create Better Days for nearly 4 billion people worldwide by 2030. It is engaged in manufacturing a wide range of snacks, including noodles, and cereals, among others.

General Mills, Inc.

General Mills, Inc. was founded in 1866 and is headquartered in Minneapolis, Minnesota (USA). It is a public limited company which specialises in the production and marketing of consumer-packaged goods and food products.

Mondelez International Inc.

Mondelez International Inc. was founded in October 2012 and is headquartered in the United States. It is the world’s #1 biscuit company and #2 chocolate company. It has a market presence in over 150 countries and generated a net revenue of $36 billion in 2023. Its wide-ranging product portfolio includes baked snacks, chewing gums, and powdered beverage products, among others.

LOTTE Corporation

LOTTE Corporation was founded in the 1948 and is headquartered in South Korea. Its LOTTE Wellfood business segment was established in 1967 and is engaged in providing a wide range of food confectionery items, processed foods, food ingredients, liquors, and even dining businesses worldwide.

Other major market players are Pepsico, Inc., Nestle S.A., Calbee, Inc., Orion Corporation, Britannia Industries Limited, and Mars Incorporated, Inc., among others.