Though the fast-moving consumer goods market has witnessed slower growth this year, the snack food segment has managed to buck the trend with good growth rates.

 

According to a new study from Kantar Worldpanel China, a consultancy that specializes in fast moving consumer goods, the snack foods sector posted average growth of 10.6 percent for the 12-month period ending October, compared with 5.6 percent growth for the whole food sector in the same period.

 

"We expect the relatively strong performance to continue for the rest of the year also, as consumers are willing to spend more on snacks to enrich their lifestyles," said Jason Yu, general manager of Kantar Worldpanel China.

 

"The real stand-outs in terms of growth have been: yogurt at 18 percent, chocolate at 16 percent and biscuits at 12 percent."

 

In the more "Western" snacks like chocolates and biscuits, multinational brands are still the leaders in market movement and innovation. Most of the local brands are just followers in this segment, the Kantar study said.

 

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