Market Trends of Pakistan Savory Snack Industry
Demand for Nuts and Seeds is Increasing
Consumers in the country are constantly seeking convenient snacking options that are being upgraded by major manufacturers. The industry is mainly driven by the growing awareness of the health benefits of nuts and seeds, as they are rich sources of fiber, protein, vitamins, antioxidants, and other essential minerals, and the increasing popularity of the paleo diet. They are a good source of saturated fats and help maintain a healthy heart and brain. Due to the nutritional benefits, they serve as excellent meal substitutes.
The prevalence of diabetes across the nation has encouraged many consumers to switch to nuts and seeds snacking options. As per the World Bank data, approximately 26.7% of the adult population residing in Pakistan had diabetes in 2022. The on-the-go snacking concept is linked to easy consumption. Also, nuts and seeds as snacking options help consumers save time cooking at home, especially in times of minor hunger urges, serve as convenient tiffin options for school/college-going children, and even between work sessions.
The Growing Number of Supermarkets in Pakistan is Expected to Boost the Sales of Potato Chips
Consumers in urban areas have switched from traditional grocery stores to branded grocery chains due to changing consumer lifestyles, the availability of global brands, and technological interventions. This change in consumer behavior is expected to drive the market for potato chips through supermarkets. The segment accounts for a substantial share of the potato chip market, owing to its friendly format and the real feeling of shopping experience among consumers. Supermarkets provide heavy discounts and rewards that attract consumers to purchase potato chips through supermarkets.
Many supermarket chains have been expanding their presence across Asia, including Pakistan. As of 2021, there were four Carrefour outlets across Asia. Discount offers and ease of shopping also attract consumers to supermarkets. Majid Al Futtaim invested around INR 14.3 billion in new store openings in Q1 2024 in Lahore, Pakistan. Majid Al Futtaim, which owns the exclusive rights to operate Carrefour in Pakistan, announced the inauguration of a new Carrefour supermarket in Askari 10 in Lahore.
Consumers prefer making fewer trips to the stores to receive more value for their money, which increases the sales of snacks, including potato chips, via supermarkets/hypermarkets across the nation. Thus, increasing retail business in Pakistan is expected to boost the potato chip market in the country.
