Salty snacks, especially potato chips, tortilla chips and puffed snacks sees strong double-digit growth over the entire review period including 2021. Widespread aggressive promotions and marketing campaigns also continue to bolster the demand for these products.
Strong marketing and promotions help Simba (Pty) Ltd maintain its leading position in savoury snacks, while National Brands Ltd remains in second place although both companies lose value share in 2021 as private label intensifies competition. Simba’s leading position can be attributed to the aggressive price promotion of its flagship brands Simba, Lay’s, Niknaks and Doritos.
Generally, high income groups are not affected by economic conditions and will continue to drive nut and seed sales over the coming years. However, lower middle-income consumers are more vulnerable to economic conditions and will refrain from buying tree nuts and seeds as they are expensive in South Africa.
The economic fallout as a result of the COVID-19 pandemic and general economic woes of South Africa is expected to see many consumers reducing their spending on food as disposable incomes continue to decrease in the short term. Savoury snacks is likely to see modest retail value sales growth at constant 2021 prices as well as volume growth as consumers prioritise essential goods over the forecast period.
Taking into consideration the economic challenges that are expected over the forecast period in South Africa, consumers will continue to look for different ways to save money. Savoury snacks like potato chips, tortilla chips and puffed snacks are exceptionally popular with South African consumers and consumed at parties and other social gatherings.
Healthy snacks are expected to play a more important role over the forecast period. The COVID-19 pandemic put health and wellness at the forefront and consumers became more aware of food as supplementary to one’s health.
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Understand the latest market trends and future growth opportunities for the Sweet and Savoury Snacks industry in South Africa with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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