Snac World - Official State of the Industry 2023 - 14

SNACK
PRODUCT
SALES
SOAR
Total Snacks
Cookies
Crackers
Potato Chips
Bars
Other Salted Snacks
Tortilla Chips
Snack Nuts/Seeds/Corn Nuts
Cheese Snacks
Dried Meat Snacks
Pretzels
Popcorn
Corn Snacks
Other Snacks
Pork Rinds
Dollar Sales
($mil)
$28,363.1
$10,468.1
$8,453.0
$7,795.2
$6,614.6
$6,357.9
$6,149.6
$4,774.5
$2,638.1
$2,457.0
$1,770.8
$1,706.8
$1,540.5
$1,471.3
$404.1
%
Change
15.6%
12.3%
12.8%
14.5%
10.3%
16.9%
16.6%
-1.7%
13.9%
1.2%
17.5%
13.1%
21.1%
5.7%
-2.1%
Unit Sales
(mil)
8,002.5
2,871.7
2,391.4
2,665.5
1,407.4
1,124.3
1,809.7
944.6
820.0
494.8
457.2
469.4
494.7
316.5
161.6
%
Change
-0.9%
-4.1%
-4.0%
-1.0%
-8.3%
-4.5%
0.7%
-5.1%
-1.6%
-10.6%
2.3%
-0.1%
3.6%
-3.5%
-9.5%
Source: IRI
Total US Multi-outlet | 52 Weeks Ending 1-8-23 | Note: Many companies may have multiple brand listings in the IRI data.
Creative promotions can help achieve this goal.
" Being innovative in how we interact with consumers
is critical as we try to break through the clutter
of today's online environment, " Mr. Johnson said.
" We've seen great success using social platforms as
an opportunity to have an ongoing conversation with
consumers, where their comments and DMs help us
truly understand the pulse of how they are feeling.
We've found strong engagement in adding value to
our consumers' lives, for example our recipe inspiration
posts for brands like Tostitos and Doritos. "
BOOSTING INNOVATION FOR THE FUTURE
Consumers are looking to indulge with snacks offering
familiar flavors in exciting combinations that help
create an enjoyable experience. Looking ahead,
consumers will continue to adjust to changing lifestyles
and snacking occasions will evolve and expand.
As people become more mobile, there will be
more room in the market for on-the-go products.
" Whether healthy or indulgent or both at the same
time, those on-the-go products that can be eaten
while actually in transit will appeal, " Ms. Dornblaser
observed. " These products will go beyond the usual
bar-type products to other snacks that can be eaten
easily out of hand or without creating a mess. "
She added that the opportunities for product
development lie in easy-to-understand formulations,
14
SNAC WORLD 2023
communication of the inherent goodness of products,
like fiber and flavonoids, flavor experimentation
and communication of just plain fun. This balance
guides Frito-Lay's new product development.
" We are very mindful of innovating snacks that
deliver on our brand promises while delighting consumers
across all their snacking occasions, " Mr.
Johnson said.
It is vital that the industry return to thoughtful
product innovation, which is how snacks flourish.
Innovation that will grow the category will center
and crossover three themes for the future: experience,
flavor and health.
New products should boosts the snacking experience.
The next successful new snacks will excite
consumers with interesting flavor combinations
expanding on familiar favorites. And those that
consider underlying consumer health and wellness
needs will be successful.
" Taste and convenience are still paramount, but
producers must get back to innovation, " Ms. Lyons
Wyatt concluded. " This industry thrives on it, and it
is what drives growth. "
Leveraging social media and other marketing
strategies will help producers create excitement
around innovation for brands in different ways while
promoting snacks that surprise and delight consumers
and continue to grow the industry.

Snac World - Official State of the Industry 2023

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