Asian Urbanization Drives Demand For Convenient Snacks, Packaged Foods

Rapidly urbanizing Asian countries – i.e., Vietnam, Philippines, India, Thailand, Singapore and Indonesia – with growing disposable incomes and aggressive investment from multinational companies, are increasingly interested in snacking. Growth is especially hot for sweet and savory snacks and frozen desserts. Consumers are especially attracted to Western-style snacks in addition to their traditional snacks. Hand-in-hand with the urbanization trend are impulse, indulgence, and convenience, a good sign for ready meals and processed food. Three countries – India, Indonesia and Vietnam – are booming markets for packaged food. In terms of companies, Mondelez International Inc. is doing especially well with their lines of cookies, snack bars and candy.