Snack strategy: Mondelez highlights affordability, portion control and variety as key drivers for AMEA market – WATCH

Global economic and geopolitical conditions have resulted in increased demands from consumers all over the world for affordable options, even within the snacking market which maintained stable popularity after seeing rapid growth during the COVID-19 pandemic.

However, moving to simply slash prices is not a feasible strategy given rising ingredient costs as well as parallel consumer demands for product taste and health to remain as good if not better than status quo – so many brands have had to look to other strategies to make this happen.

“The demands from consumers in the Asia, Middle East and Africa (AMEA) region are really changing very fast, and particularly their expectations of snacks are almost changing from year to year,”​ Mondelez VP for Strategy and Commercial Excellence AMEA Tomas Centeno told FoodNavigator-Asia​ after presenting the results of the company’s latest State of Snacking report at Growth Asia Summit 2024.

“When it comes to snacking it is pivotal to allow consumers to make choices, which means that portfolio variety is absolutely crucial, and the wrong attitude would be to completely cut back on any particular segment of snacks.

“During economic downturns like we are seeing, the part of the business that provides affordable options is quite important as consumers want to choose products that they can afford comfortably – but it is tricky as these products not only need to have the right affordable prices, but also the right quality, and we need to hit all those factors at the same time.