Mondelez International is poised to drive the APAC market forward with its focus on baked snacks. The company has launched a new US$5 million bakery-focused facility in Singapore, aimed at boosting product innovation across Southeast Asia, Australia, New Zealand, and Japan.
Market Trends
Investment in Innovation: Mondelez has inaugurated a US$5 million Regional Biscuit and Baked Snacks Lab and Innovation Kitchen in Singapore. This facility is dedicated to innovating biscuits and baked snacks, targeting specific price points to ensure products are accessible and affordable.
Fusion Bakery Development: The innovation strategy at this facility merges art and science to create fusion bakery products. These products combine traditional flavours with modern snack formats, catering to the evolving tastes and preferences of consumers in the region.
Rising Demand for Health-Focused Snacks: By 2030, 50% of consumers in Southeast Asia will be Gen Z and Gen Alpha, who have high demands for convenience and health-focused snacks. Mondelez's focus on developing healthier and more convenient snack options positions the company to meet this growing demand.
Strategic Actions
Focus on Innovation in Baked Snacks: Exporters should invest in innovation labs and facilities to drive product development and meet consumer demands for healthier and convenient baked snacks. This investment will enable the creation of unique and appealing products that stand out in the market.
Create Fusion Bakery Products: Combining traditional flavours with modern snack formats can result in unique offerings that appeal to local tastes. Exporters should leverage this approach to cater to the diverse preferences of consumers in the region.
Ensure Accessibility and Affordability: Targeting specific price points to ensure products are accessible and affordable is crucial for expanding market reach and consumer base. Exporters should focus on creating products that are both high-quality and cost-effective.
Leverage Localisation: Increased localisation in product development can enhance market penetration and competitiveness. Exporters should tailor their products to meet the specific tastes and preferences of local markets, ensuring a stronger connection with consumers.
Mondelez's strategic focus on bakery innovation and its investment in the new facility in Singapore highlight the importance of innovation, affordability, and localisation in driving market growth. Exporters can benefit by emulating these strategies, investing in product development, and creating unique, accessible, and locally tailored baked snacks to meet the growing demands of the APAC market.
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