SINGAPORE, 16 January 2025 – The snacking and confectionery market across Asia Pacific (APAC) is experiencing rapid growth, with a 10% increase in both volume and value in 2024. According to NielsenIQ’s new Unwrapping Opportunities in the Snackiverse: Asia Pacific State of Snacking 2024 Report, the market is valued at US$64 billion, representing a significant opportunity for brands.

In Singapore, consumers lead the region in annual snacking expenditures, spending an average of US$121.30 per buyer in 2024. Across APAC, the snacking landscape is evolving, shaped by demands for convenience, healthier choices and a strong interest in exploring new options, with 73% of consumers eager to try new brands and products. This curiosity is fueled by a diverse array of key discovery channels, including online reviews (38%), recommendations from family and friends (36%) and offline visibility (31%). 

Some key findings from the report include:

  • Convenience, health consciousness, and mood-boosting snacks are shaping consumer choices in APAC
    • Convenience stands out as the top priority for APAC' consumers when choosing snacks and confectionery, with 84% emphasising its importance. This is followed by a preference for low-calorie options and snacks with healthier ingredients (73%) as well as mood-enhancing options, such as stress-relieving snacks (69%).
    • Portion-controlled snacks are becoming an increasingly popular choice among APAC consumers, with 33% incorporating portion-controlled meal kits or prepared foods into their snacking routines.
    • Consumer preferences for healthier snacks vary significantly across age groups:
      • Boomers (60+ years) prioritise low-sugar options over low-calorie snacks or those with healthier ingredients, reflecting a focus on managing specific health concerns.
      • Millennials (28-43 years) value snacks with enhanced flavour, high fibre and functional benefits, ranking these attributes above low-sugar options as they balance health with versatility.
      • Gen Z (18-27 years) seeks snacks that improve mood, deliver bold flavors and offer unique varieties, aligning with their desire for emotional well-being along with novelty.
  • Health-conscious snacking fuels industry evolution across APAC
    • The confectionery industry in APAC is expected to expand its range of health-oriented products in response to the growing demand for healthier options among consumers.
    • The increasing popularity of protein snacks and new protein product lines by brands is leading to increased diversification beyond bars to include chips, ice cream, cookies and more.
  • Singapore tops APAC in snack spending 
  • Singapore leads Asia in snacking and confectionery trends, with consumers spending an average of USD $121.30 per buyer in 2024—the highest in the region and an increase from USD $119.30 in 2023. 
    • This growth is fuelled by strong performance in key categories, including gum and candy (+18%), other snacks (+15%) and chocolates (+7%) in the same time period.
    • Beyond health, variety is key, with 62% of APAC consumers placing a high value on unique snack options. In Singapore, Original, Cheese and Spicy flavours were reported as top choices for snacks, while BBQ, Spicy and Cheese flavours dominated Southeast Asia. 
Price sensitivity remains a major factor in decision-making among locals, with price drops being the leading influence on brand choice. 

To download the report, please visit NielsenIQ’s website here. 

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