Kuwait Snacks Market Research Report: Forecast (2024-2030)

Market Insights & Analysis: Kuwait Snacks Market (2024-30):

The Kuwait Snacks Market is estimated to grow at a CAGR of around 5.29% during the forecast period, i.e., 2024-30. The expansion of the market is driven by the increasing popularity of multicultural cuisines and a growing emphasis on health consciousness among consumers. The International Trade Administration (ITA) highlights that investments outside Kuwait are inspired by the fact that nearly 90% of the country's land is inappropriate for agriculture. This strategic investment approach is geared towards improving food & snack production abilities to meet the escalating need, thereby contributing to the overall market growth. These initiatives not only strengthen food security but also exert influence on the pricing dynamics of snacks & related products across the industry.

Moreover, key competitors in the snacks industry, such as Nestle and Mars Inc., are also actively involved in the production of innovative & personalized snack offerings. These products are tailored to address myriad dietary needs, including lactose-free options & the exclusion of specific components for individuals with allergies. The development of specialized snack products prepared with ingredients prudent for allergic populations significantly enhances the demand for such offerings. This trend is anticipated to drive sustained growth in the national industry throughout the forecast period.

Additionally, the market is witnessing a surge in consumer demand for unique & culturally diverse snack options. Also, with increasingly multicultural inhabitants, there is a growing appetite for snacks that cater to diverse taste preferences & cultural backgrounds. Furthermore, health-conscious consumers are seeking snacks that align with their dietary preferences, contributing to the rise in demand for healthier & functional snack options. As major players continue to innovate & introduce products that resonate with these trends, the Kuwait Snacks Market is destined for continued expansion.

Kuwait Snacks Market Driver:

Increasing Advancement in E-commerce Platform to Fuel Market Growth – E-commerce is one of the digitalizing platforms in Kuwait due to high internet access and growth in online shopping platforms. This platform is fulfilling the customer's demand of the customers by offering the delivery of snacks and other food products in less time. The biggest companies, such as Ferrero, Kellogg, etc., are offering direct-to-consumer connections for the delivery of various snacks through their official company website. As the internet technology is advancing, providing 4G to 5G internet connectivity, it drives easy & secure transactions, thereby increasing the popularity of the e-commerce platform, which resulted in increasing the demand for snacks. For instance:

In 2022, a new e-commerce platform named Raha was launched in Kuwait, which is the first fully automated e-grocery start-up involving various products, snacks, and other groceries that are elevating the traditional grocery experience to a convenient digital experience.

Moreover, e-commerce is coming up as a viable solution offering increasing demand for online shopping of snacks from local & international manufacturers in a lesser time efficiently & effectively, further enhancing the Kuwait Snack Market size in the coming years.

Kuwait Snacks Market Opportunity:

Introduction of AI Technology in Food Production Sector to Present Opportunistic Arena for the Market – Over the past few years, the demand for AI has expanded in various sectors, and now it is being deployed in the food & beverage industry in Kuwait and other parts of the Middle East. Lately, AI has been implemented in the food & snack processing system to ensure the production of the products in less operational time with the proper food quality standard assurance compared to the traditional method of food processing with comparatively longer time. Many snack companies, such as Mars Inc., Nestle, etc., are working to develop & innovate AI technology in their food processing systems procedures to ease operations.

Hence, the advancement in the food processing system of snacks by including AI technology to figure out errors & failures in real-time, prevent production loss, have a faster production rate, and others, is aiding in satisfying the snacks demand, further creating profitable opportunities for the Kuwait Snacks Market in the projected years.  

Kuwait Snacks Market Challenge:

Inclusion of Food Additives in Snacks to Limit the Industry Growth –  Snacks often incorporate food additives for purposes such as preservation & texture enhancement. However, not all additives are suitable for human consumption. In response to this concern, the government of Kuwait has implemented various food safety regulations covering pre-packaged food, food additives, and food hygiene. These regulations are aimed at ensuring that snacks & other food items adhere to established standards before reaching consumers. Compliance with these regulations guarantees that any additives present in snacks meet specified requirements, serve their intended function, and pose no harm to consumers.

However, due to the rising demand for snacks due to Kuwait's busy lifestyle, there is a concurrent upsurge in the usage of food additives to extend the shelf life of these products and to keep up the demand pace. Therefore, this is resulting in the rejection of many snacks & their adoption by consumers, as nowadays individuals are too concerned about healthy food and avoid artificial additive food items. Consequently, this would have a negative impact on the Kuwait Snacks Market, further impeding its growth.

Kuwait Snacks Market (2024-30): Segmentation Analysis

Kuwait Snacks Market study by MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024–2030 at the global, regional, and national levels. In accordance to the analysis, the market has been further classified as:

Based on Product Type:

• Biscuits, Snack Bars, and Fruit Snacks
• Savory Snacks
• Ice Cream
• Sugar Confectionery
• Chocolate Confectionery

Savory Snacks is expected to hold the majority share of the Kuwait Snacks Market during 2024-30. Individuals across the country prefer savory flavor-based snacks, including salty snacks, potato chips, nuts, seeds, savory biscuits, etc., more than other types of snacks in the market. These snacks consist of all the vitamins, minerals, fibers, healthy fats, and other nutrient components that are highly acceptable to the population in Kuwait.

Moreover, compared to sweet snacks, which are rich in high calories & sugar, savory snacks are more nutritive, offering sustained energy & supporting healthy weight management by consumption of less calorie products. Furthermore, their variety in texture and unique crispy & crunchy elements create a more interesting experience than the sweet snacks. Therefore, demand for these snacks is anticipated to elevate the market share, owing to its convenience & nutritional benefit.

Based on the Distribution Channel:

• Online
• Offline

The Online distribution channel captured a notable share of the Kuwait Snacks Market during 2018-2022 and is predicted to follow the same trend in the years ahead. In recent years, the online shopping platform for snacks has grown owing to improved internet access, which has a positive impact on the Snacks Market as it serves as a convenient distribution channel with direct and secure transactions.

Furthermore, the government is actively involved in the development of the ICT (Information and Communication Technology) sector through the 'New Kuwait 2035' Kuwait National Development Plan (KNDP). This plan includes the advancement of 5G technology and broadband networks, which will encourage online distribution channels. Additionally, market growth is expected to be fueled by advances in ICT technology, which is increasing the demand for an online ordering system for snacks, thereby increasing the Kuwait Snacks Market share in the coming years.

Kuwait Snacks Industry Recent Development:

• 2022: Nestle company launched new confectionery products in the form of chocolate buttons, including KitKat Bites and KitKat Aero Melts.

Gain a Competitive Edge with Kuwait Snacks Market Report

• Kuwait Snacks Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
• Kuwait Snacks Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.