2014-04-21 20:49:02 - Market Focus: Trends and Developments in the Savory Snacks Sector in Australia - a new market research report on companiesandmarkets.com
Public awareness of healthy diets and nutrition has increased, driven by government and private initiatives, though its effects are to yet to be strongly seen on the Australia savory snacks market. As such Savory Snacks categories such as Potato Chips and Popcorn have beaten the growth rates recorded by categories such as Nuts and Seeds and Processed Snacks throughout 2007 to 2017.However, the Australian dollar versus the US dollar fell rapidly during the second half of 2008, and then grew rapidly during 2009. This has caused volatile growth in the Australian Savory Snacks market in US$ terms, even though volumes have grown at a relatively constant rate.
Australia´s population is aging, which creates an opportunity for more health-conscious product lines, and
is becoming a more multi-cultural society due to immigration, which is increasing opportunities for ethnic food products. Price and health are becoming increasingly important for Australian consumers as the Savory Snacks sector evolves to take into account pressures on consumer spending and rising awareness of weight issues.
Woolworths and Coles account for a major share of the Australian Food market and therefore exert significant influence with suppliers. Being listed in either or both of these retailers is vital for Savory Snacks brands in Australia. IGA and ALDI are other key retailers.
Low Fat diets are increasing in Australia, which could impact potato chips and processed snack sales due to these products´ high fat content. Marketers are innovating with small size packs to provide Australians with guilt-free indulgences.
Nuts and seeds and pretzels are expected to witness very low growth rates during the forecast period as compared to the review period.
Public awareness of healthy diets and nutrition has increased, driven by government and private initiatives, though its effects are yet to be seen strongly on the Savory Snacks market. As such Potato Chips will continue to take market share from categories such as Nuts and Seeds and Processed Snacks, which tend to include healthier Savory Snacks.
While growth has been steady in local currency terms, closely matching volume growth, volatile exchange rates have added complexity to the market for international companies
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