To combat rising food inflation, in April 2021 Russia imposed a three-month ban on exports of sunflower seeds, and announced they would be subject to a new export tax when this ban expired. These measures have driven up costs for Georgian companies that import these commodities, either to package and sell as snacks in their own right or for use as ingredients in the manufacturing of other products.
Vegetable, pulse and bread chips looks set to show the fastest growth in volume and current value sales within savoury snacks in 2021. With COVID-19 still taking a heavy toll on Georgia’s economy, heightened price-sensitivity will strengthen consumer interest in this category, which has seen the entry of several more affordable domestic brands in recent years.
PepsiCo will remain the outright leader in savoury snacks in 2021. The company’s overall value share is expected to increase from 2020, as it has been able to weather the impact of COVID-19 better than most thanks to its broad portfolio, extensive distribution reach and consistently strong marketing support for its brands.
Vegetable, pulse and bread chips looks set to remain the most dynamic performer within savoury snacks in retail volume and current value growth terms over the forecast period. Aside from its competitive price positioning and increasing appeal among consumers seeking healthier alternatives, the category should continue to benefit from growth in domestic production.
Domestic companies are expected to strengthen their presence in savoury snacks over the forecast period. In the short-to-medium term, gains will be supported by the fact that the recent depreciation of the Georgian lari has reinforced the price advantage domestic products traditionally enjoy over imported brands.
Despite the likelihood of greater fragmentation, PepsiCo is expected to remain the clear leader in savoury snacks over the forecast period. The multinational giant enjoys early mover advantages in a number of key categories, including potato chips, while brands such as Lay's and Doritos benefit from continuous advertising support and prominent shelf positions in modern and traditional grocery retailers outlets.
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Understand the latest market trends and future growth opportunities for the Sweet and Savoury Snacks industry in Georgia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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