The devaluation of the Uzbekistani currency in 2017 continues to contribute to rising prices across a range of goods and services. Consequently, the development of non-essential areas such as savoury snacks has been constrained, with consumers instead focusing on more essential items.
Pro Snack MChJ is set to lead savoury snacks in Uzbekistan in 2021, thanks to its broad brand portfolio, which includes the popular Fan, Kirieshki and Chipsony varieties. PepsiCo Inc is expected to continue to drive development within potato chips in Uzbekistan, with value sales of the company’s well-known Lay’s brand and relatively new brand Khrusteam gaining value share.
Nuts, seeds and trail mixes is extremely popular and an important part of traditional food culture in Uzbekistan. However, packed products are small in volume and comprise a low percentage of savoury snacks.
The economic fallout of COVID-19 is expected to see many consumers reducing their spending on food as disposable income decreases. Savoury snacks is likely to show sluggish volume growth from 2021 as consumers prioritise essential goods, although retail value sales are expected to remain robust across the forecast period, albeit at a decelerating rate.
The rising number of 8-17 year-olds in Uzbekistan will benefit sales of savoury snacks over the forecast period, with teenagers being among the most frequent consumers of products in this area. However, this demographic has lower levels of purchasing power than older consumers and is less inclined to opt for premium products.
The limited development of modern grocery retailers has restricted growth within savoury snacks in Uzbekistan, especially pulses. In addition, a high share of contraband and unofficial sales, as well as approximately 25% of official sales, of savoury snacks is sold in open-air markets.
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