Snack World - May 2014 - (Page 18)
STATE OF THE INDUSTRY REPORT
State of the
Snack Industry:
Bold New World
Intense flavors, new products, busy lifestyles
and more frequent snacking fuel sales.
BY BOB GATTY
W
ith snacking across the nation and
many countries abroad increasing
steadily, snack companies must pay
close attention to consumers' continually shifting
needs, desires and tastes - all of which influence
their snack purchasing habits.
There are plenty of opportunities evident in the
data if snack marketers take the time and effort to
look, and there is much to be learned from a huge
variety of snack sellers, some new to this category,
who have become increasingly creative in their
merchandising and promotion strategies.
In a "State of the Snack Industry" special report at
the Snack Food Association's SNAXPO convention
in early March, industry analyst Sally
Lyons Wyatt offered insight into
some of the trends evidenced
by consumer snack sales over
the past year and suggested
steps marketers can take
BROUGHT TO YOU BY
HEAT & CONTROL, J.R. SHORT,
PRINTPACK, RUDOLPH FOODS
AND GE CAPITAL
18
Snack World
May 2014
www.sfa.org
to get a piece of the action. "Consumers' lifestyles
have changed, and people are eating on the go,"
observed Ms. Wyatt, IRI executive and general manager, client insights. "Take advantage of comerchandising opportunities - for example, market rice cakes with refrigerated spreads. Merchandising can deliver a big lift in sales. Be bold about
what you want to put in the store."
She noted that despite economic challenges
causing consumers to be cautious with their
money, more than $1 trillion is spent annually on
food. In fact, 43% of that is spent on edible food
purchased at multi-store outlets and convenience
stores (MULO=C). Remarkably, IRI data shows that
86% of consumers eat snacks of one kind or another, with snack purchasing frequency increasing
at a healthy rate. In fact, 51% said they consume
three or more snacks daily, up from 21% just four
years ago.
The average number of snacks consumed daily
jumped from 1.9 per person in 2010 to 2.8 this year.
Mini meals are becoming increasingly popular with
28% of US consumers saying they eat four or five
such meals every day. Thirty-eight percent said
they eat three square meals and several snacks
each day, while 21% said they eat on the run and
grab food whenever they can.
While core snack volume dipped 0.8% industrywide, dollar sales increased 2.8%, generated by
increased prices, outpacing overall CPG sales,
which increased 1.6%.
http://www.sfa.org
Table of Contents for the Digital Edition of Snack World - May 2014
Snack World - May 2014
Table of Contents
Letter from SFA - Chairman's Introduction
Supplier Insight - Building Relationships
2014 SFA Legislative Summit
State of the Industry - Bold New World
IRI charts include more robust data
State of the Industry - Simply Pure Enjoyment
State of the Industry - Going Cantina and Going Wild
The M(other) Lode of Invention
State of the Industry - Atop the Trends
State of the Industry - Bold Moves for a New Generation
State of the Industry - Producing a Protein Powerhouse
State of the Industry - Best of Both Worlds
Complex Seasonings Create New Markets
Where’s the Beef?
State of the Industry - All in the Family
State of the Industry - Hot and Sometimes Not
Chairman Profile - Small Town Atmosphere, Big-Time Value
SNAXPO Recap - President Bush Highlights SNAXPO 2014
Business Member Profile - Powerhouse Partnership
Associate Member Profile - Innovation Leads to Solutions
Products & Services
Ad Index
Snack World - May 2014
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