Why is Big Food booming in emerging markets?

Why is Big Food booming in emerging markets?

FMCG giants such as Nestlé, Mondelēz International and Kraft Heinz have been seeing strong growth in emerging markets. Why? Consumers in these markets are becoming wealthier and increasingly living in urban areas, meaning that the consumer base is becoming larger. Furthermore, in Europe, Big Food is locked in competition with private label; in emerging markets this is not a factor.