Articles by 王玮

Thai Schoolchildren Fall for Henan Spicy Strips: Chinese Snacks Sweep into Southeast Asia

In September 2024, Want Want spent RMB 138 million on a business jet, citing the need for more frequent trips to overseas markets. In FY2023, Want Want's overseas business grew by double digits, with overseas markets accounting for about 20% of revenue. Facing intense domestic competition, Chinese snack brands like Want Want are expanding into Southeast Asia, leveraging the region's proximity, cultural similarities, and large Chinese diaspora. Brands such as Qiaqia, Yanjinpuzi, and Weilong are making significant inroads, with Qiaqia's Thai subsidiary contributing RMB 400 million in 2023. The region's snack market is projected to reach $13.1 billion by 2029, attracting both traditional and internet-based snack brands.