Industry Overview - The snack and baking industry is undergoing a significant transformation from "shallow water" to "deep water" [4] - The competition is shifting from simple taste innovation to a new dimension of "product innovation + scenario exploration + value delivery" [5] Market Potential - The snack market in China has substantial growth potential, with per capita annual consumption of savory snacks at only 2 kg compared to 15 kg in the US and nearly 7 kg in Australia, indicating a significant gap [3] - The lower-tier markets are showing a 10.4% growth in fast-moving consumer goods, highlighting the potential for snack brands to thrive in these areas [5] Consumer Trends - Five major trends in snack innovation have emerged: health consciousness, emotional satisfaction, new Chinese styles, functionality, and flexible meal options [7][8] - Consumers are increasingly focused on health attributes, shifting from "harmless" to "beneficial" snacks, with a growing preference for scientifically balanced nutrition [8] Emotional Value - Snacks are becoming important emotional regulators, with products designed to address stress management and sleep aid gaining popularity [9] - The younger generation views snacks not just as energy sources but as tools for emotional buffering [9] Cultural Influence - The rise of national trends is revitalizing traditional ingredients, with local specialties and intangible cultural heritage driving innovation in snacks [9] - The concept of "medicinal food" is gaining traction, with a projected annual growth rate of 20%-30% for snacks incorporating these elements [9] Functional Snacks - The boundary between snacks and supplements is blurring, with increasing consumer demand for functional snacks that offer benefits like sleep aid and immune support [10] - Modular snack design is seen as a future direction, allowing for versatile consumption scenarios [11] Brand Strategies - Companies are focusing on rapid product development and marketing strategies that resonate with consumers, emphasizing emotional connections and cultural relevance [17] - Successful brands are leveraging consumer insights to innovate and enhance product offerings, ensuring they meet evolving consumer needs [17]