For confectionary giant Mondelēz, the snacking market is set to get even sweeter, according to Glenn Caton, its senior vice president of growth for AMEA.
“Around the world, our estimate is snacking is around a US$1.2 trillion opportunity,” said Caton at the recent Food Industry Asia (FIA) Food for Future Summit held in Singapore.
“Worldwide, we are seeing about 4-5% growth,” he added, observing that the “core snacking categories” of biscuits and chocolates will continue to be the biggest chunk of the industry’s overall growth. For healthy snacks such as nuts and seeds, he estimated growth “to be double that rate – and in many cases, more”.
Mondelēz is the global leader in biscuits, chocolate and candy – while being number two in gum, according to Nielsen global data – but Caton emphasized that consumer concern about wellness “are very relevant and a very important part for our business in order for us to find success globally”.