Its a new source for input when its time to rethink your positioning and develop compelling products that satisfy your customers evolving needs. (Euromonitor International), In the five years to 2019, the U.S. snack industry revenue has grown to $46.9 billion, with an annualized growth rate of 1.7%. No one knows more about how people eat and drink than The NPD Group. Spending more time at home over the past year, U.S. consumers have developed a new relationship with snacking. Indeed, new brands are making the most of this convergence of government regulations and consumer habits with new launches, such as Good & Honests popped veggie crisps, Pep & Lekkers seed snacks the Mindful Snackers new Simply Roasted range of healthier crisps. Its unifying some of the in-store practices with the online advantages of e-commerce and social media..
vOut +=', '; (Grand View Research), Snack food companies are looking for ways to make traditional foods such as cereal, fruits, meat and cheese, and soup as snacks to possibly replace conventional meals. Other top sellers included non-traditional vegetable-based savory snacks (including those with cheese), protein meat snacks, pork rinds, popcorn and pretzels. (NPD Group), The snack food industry rose to US$3.4 billion worldwide in 2017, pleasing consumer snack appetites around the world. By sharing these stories, I want to help others get started. Our State of Snacking report found that the definition of snacking is evolving among consumers globally, which is reshaping the meaning of snacking within peoples lives, said Dirk Van de Put, Chairman and CEO of Mondelz International. Matt Hodgetts, speciality and foodservice manager at Peters Yard, agrees that healthy snacks will see a boost in innovation, helped by changing government regulations. (NOSH), Japans matcha powder and Indias tikka masala and cardamom are just some of the Asian flavors currently making waves in the U.S. (Food Safety Magazine), Close to 386 billion ready-to-eat snacks were consumed by Americans last year, most of which were chowed down between breakfast, lunch, and dinner. Snack on! Over the past year, snacks have taken on a new significance for consumers. Sign up to our free newsletter and get the latest news sent direct to your inbox, Processing Equipment & Systems, Automation, Control, Packaging & Packing Materials, Containers, Up to standard: Third-party certification and company programmes compared, Creating value at source with cocoa provenance claims, Food & drink sustainability 2019 Global progress, Learn more about Lumina Intelligence Sustainability, News & Analysis on Chocolate, Candy and Biscuits. And companies are responding. vOut = vOut.toLowerCase(); Patrick Limdico is a Brand Journalist at FoodTruckEmpire.com. We track consumer behavior, attitudes, and usage motivators from diet and nutrition to shopping habits and brand awareness to help you solve your biggest business challenges. Nearly half of adults (46%) say they are snacking more during the pandemic. (BakingBusiness.com), Between 2016 to 2018, pretzels and specialty chips which is a $4 billion category in the snack food segment, increased its retail sales by 8%. Mondelez International, (NOSH), The global snack food market is expected to grow by US$217.2 Billion with a CAGR of 5.6%. There also are a lot of meat and cheese combinations. As consumers gradually get back out there with more mobile lifestyles, some of the convenience-sized, single-serve packaging will take off.. Snacking used to be considered junk food back in the day. These changing habits have ignited the development of new products and created new stocking opportunities for retailers. From mindful snacking to the return of on-the-go eating. Subscribe and get key market trends and insights relevant to your industry. It will be interesting to see which of these mini-trends that have come out of the COVID era stick and which ones will go back to the way things were, he says. They also pushed for companies to be responsible corporate citizens in everything from social responsibility to sustainability. Many consumers are buying in bulk because they are reducing the number of trips to the store, Gibbs says. (Mordor Intelligence), Snacking has taken the place of traditional meals like breakfast, lunch, and dinner unlike in the past where snacking was made in between meals. Snacks have actually replaced meals. A recent Harris Poll conducted in conjunction with Mondelez International, maker of more than 150 global snack brands, revealed a change in eating habits, and snacking plays a key role. }); Mondelz International's third annual State of Snacking report confirms today that consumers prefer snacking as a regular eating behaviour over traditional mealtime for the third consecutive year (64%), up 5% since inaugural findings reported in 2019. When it comes to better-for-you, there are a lot of perishable items, like snap peas and dip, notes Jessica Cristadoro, Chief Science Officer of Food Business Consulting LLC on bakeryandsnacks.com. (Market Research.com), According to a study, a consumers choice for snack foods isnt limited to just taste. Plus, remote work at home has changed the way we eat, with 70% of millennials preferring snacking to meals. The report also revealed gifting snacks saw a big spike, up 8% compared with 2020 levels, almost matching the increase in advertising effectiveness, at 10% year on year.
But over the past decade, snacks are evolving into a major source of ones daily nutritional needs. Theyre also brimming with B-vitamins and high in potassium, magnesium and iron.. (Grand View Research). (Food Safety Magazine), Producing snacks such as peanut butter, roasted and salted nuts, pretzels, popcorn, and potato and corn chips have achieved a rise in demand over the past 5 years to 2019. if (i!=(aTags.length-1)) Free newsletter Thats a lot of nuts, bars, and trail mix! Snack options will grow as new start-ups enter the category to meet consumer demand.
With picnic occasions growing due to Covid-19, this sector is ripe with opportunities for fine food retailers, With temperatures and shoppers excitement for socialising simultaneously rising, heres what to stock to cater for the new demand, Following last summers barbecue bonanza, another banner season for al fresco dining is on the cards. The NPD Group offers data, industry expertise, and prescriptive analytics to help you grow your business in a changing world. FMCG Gurus research shows that in February 2021, 63% of consumers stated that the virus has made them more conscious about their overall health, Will says. Home > Products > Forecasting and the Future of > The Future of Food Series > The Future of Snacking. She continues, Our seeds fit this consumer demand perfectly, because you can snack on something savoury or sweet whilst enjoying a good dose of protein, fibre and omega 3. This shows that consumers are re-evaluating their attitudes to health and wellness and questioning what issues beyond the virus could be impacting their overall health, such as current diets and lifestyles and the health risks these pose later in life.. With eagle-eyed shoppers searching for the most sustainable products on the shelves, stocking more sustainable, left-field options could find you a crowd pleaser. Although demand for healthy snacks is evidently growing, consumers are still looking to indulge while they snack, occasionally turning to products that dont necessarily have healthy credentials.
This is where brands like The Honest Bean succeed, as it is transparent about what goes into its products, with a minimal ingredient list. Snacking is even replacing some of our traditional meals. The salted snack segment alone is project to reach $109 billion in global sales by 2025. Changing consumer tastes are reshaping todays marketplace. Theyre embracing snack foods as a form of comfort and entertainment, shifting growth toward previously-challenged indulgence categories after a decade of wellness-focused needs.
Thats why at Small Giants we have developed insect-based snacks, he continues. Snacking is much more than a source of nutrition and indulgence; it also is a source of social connection and inspiration for broadened experiences. Companies are offering new flavors as well as captivating new product packages to attract new customers. Stay updated with best-in-class data and industry expertise across more than 20 industries spanning retail, food, tech, and more. It was the second largest growth category (behind personal care) during the pandemic.
Mondelzs data reveals that recommendations from family and friends is now neck-and-neck with browsing or shopping in-store when it comes to trialling new products 42% vs 44%, with in-store only seeing a slight uptick of 2% versus 2020. This idea of sustainability came from younger people aged 18 to 24 who want environment-friendly packaging.
Sally Lyons Wyatt, Executive Vice President and Practice Leader for Client Insights with IRI, confirmed this during an appearance on the SNAC Cast podcast.
