Snacks continue to be on the upswing in Chinese market

The snack industry is entering the fast growth lane in China, with the combination of consumption upgrades and new distribution channels set to create an industry with an estimated output value of 3 trillion yuan ($433 billion) in 2020, a new industry report said.

According to the Snack Report released by the Circulation Industry Promotion Center, an affiliate of the Ministry of Commerce, the snack industry has already reached an output value in excess of 2.2 trillion yuan in China.

The report shows that the snack industry grew from 424 billion yuan in 2006 to 2.2 trillion yuan in 2016, a growth rate of 422 percent.