The performance of sweet biscuits, snack bars and fruit snacks in 2021 is expected to continue to highlight the impact of recent price rises, partly from currency devaluation, with the category registering strong double-digit current value growth but only a slight rise in demand. Furthermore, COVID-19 is likely to cause economic growth constraints and increased unemployment, thereby increasing consumers’ price sensitivity.
Murot Chokolate SP OOO is set to retain its recently secured first place alongside Almero Group within sweet biscuits, snack bars and fruit snacks in 2021. The domestic company’s Krember brand, which is present across various categories in both biscuits and confectionery, continues to benefit from its relative affordability, with the significant decline in consumer purchasing at the end of the review period fuelling a major shift towards cheaper products.
Snack bar sales are negligible in Uzbekistan; however, the health and wellness trend increasing in the country start-ups is driving snack bar growth. Generally, snack bars are sold through gyms and e-commerce channels, specifically social media, but have now expanded into small cafés and modern grocery retailers in central Tashkent.
The economic impact of COVID-19 is likely to see consumers reduce spending on food as disposable income falls. In value terms, consumers may well eschew premium snacking products in favour of value for money options.
Competition between local and Russian brands is expected to continue to intensify over the coming years. Large domestic manufacturers such as Murot Chokolate and Fayz Dekor Biznes continue to strengthen their positions, and intensification of competition is expected to threaten the position of other popular foreign brands such as Yubileinoye from Mondelez International.
Dried and processed fruit snacks volume sales are likely to remain modest over the forecast period, although retail value sales will be robust. While dried fruit will remain a staple feature in Uzbekistan, high prices are likely to hamper development.
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This report originates from Passport, our Sweet Biscuits, Snack Bars and Fruit Snacks research and analysis database.
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