Culinology - June 2017 - 46

PETITS fours

Global savory snack market
ripe for growth
Euromonitor International projects that the savory
snacks market in the US may reach $50 billion
by the year 2021 as the category continues to
see steady growth. While that is good news for
the industry, Jared Koerten, senior food analyst,
Euromonitor International, said there is even better news in other parts of the world where savory
snacks are starting to trend.
The US is a $46 billion market currently, controlling one-third of the total global market. More
than 12% of Americans' spending on packaged foods goes to savory snacks, according to
Euromonitor, driving modest but steady growth at
2.2% per year over the past 10 years.
"So if you're in the US, great, you're in the epicenter of the global savory snacks market," Mr.
Koerten said while presenting at SNAXPO 2017,
held this past April in Savannah. "It's a great place
to be. On the other hand, if you're thinking about
expansion opportunities, you're missing about
two-thirds of the global market."
Confectionery still leads the snack market in
Europe and Australasia. Yogurt snacks remain
popular in the Middle East, Africa and Asia

Pacific. Sweet biscuits, meanwhile, lead the pack
in Latin America. Mr. Koerten noted that despite
each region's unique snacking preference, if savory snacks could move closer to the US level of
popularity, the industry would see tremendous
growth and expansion opportunities around the
world.
Developed markets like the US, Europe and
Australasia have the highest per capita spending
on snacks. Depending on the region, consumers spend $300 to 500 annually on snacks, up
2.4% over the past five years, Mr. Koerten said. In
emerging markets, per capita spending is under
$100 but the growth rates in snack spending are
increasing 8% to 12% over that same period.
"When you think about the growth opportunities for long-term expansion potential, a lot of that
is going to come from these emerging markets,"
Mr. Koerten said. "Yes, a promising future for savory snacks in the US. But if we throw that into a
global context, step back and ask, 'how does this
looks globally?' You can see that it's not going to
be a leading market in terms of the fastest growing savory snack markets around the globe."

How Tyson Tastemakers
is changing the game
The creation of Tyson Tastemakers
represented an opportunity for disruption, said Mario Valdovino, corporate executive chef and director
of culinary innovation research and
development at Tyson Foods, Inc.,
Springdale, Ark.
"Modern consumers have shifted
to brands that really deliver experiences instead of products," Mr.
Valdovino said during a session at the
Research Chefs Association's Annual
Conference last March.
Tyson Tastemakers debuted last
year as a range of meal kits sold

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Culinology | JUNE 2017

on-line and delivered to consumers
through AmazonFresh. Each package
includes a recipe card, pre-seasoned
meats, pre-portioned and prepped
vegetables and sauces or seasonings.
Menus change seasonally and feature globally-inspired dishes such as
Cuban roasted pulled pork, Irish stout
beef stew and Korean-style tacos.
Over the course of a year, a team
within Tyson Foods developed the
Tyson Tastemakers brand, laid the
groundwork for a new operating
model within the company and commercialized the platform in a new,

nontraditional
channel.
The company
plans to scale Tyson
Tastemakers in a sustainable and
profitable way, Mr. Valdovino said,
moving beyond e-commerce with a
regional launch into select brick-andmortar stores with click-and-collect
business models, and eventually
available nationwide.
"It's important for us to recognize
the consumer's expectations are
shifting," he said.

Table of Contents for the Digital Edition of Culinology - June 2017