The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJun 2016
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The story of snacks outperforming the rest of the market is one that is now a little overplayed. It is true that snacks have grown faster in recent years, but what is also true is that a growing segment of the non-snack food market is rebranding itself as snack replacements. This briefing explores how these snack replacement products have been performing by segmenting the food market according to pack size. With a variety of mini food items now on offer, the snacks proposition suddenly increased
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Over time, busier consumers’ lifestyles, the changing role of women in the household and other cultural factors have led to consumers shifting away from sit-down meals at home towards irregular snack consumption out of the home. The rise of snacking has not only led to the development of the conventional snacks industry, but is now starting to change how non-conventional snacks are sold to consumers, creating a new field of competition for snack brands.
The data suggests that consumers that are more accustomed to eating conventional snacks tend to be far more likely to also purchase snack replacements. This revelation has implications for brands on both sides of the snacks fence and will ultimately lead to conventional snack brands extending their reach into new territories and non-snack brands building a greater portfolio of products suitable for on-the-go consumption.
The “War on Sugar” led by the media and activist groups has somewhat dented the potential growth of sweet snacks due to their reliance on sugar (and to a lesser degree, sweeteners). This has left a much bigger space for savoury snacks to grow, potentially yielding much better sales growth in future.
Viewed as naturally nutritious, dairy products, in particular liquid varieties, have become an obvious option for brands looking to build a “healthy/ier snack” line extension. Chocolate and cereal brands have so far gained the most traction.
Snack companies such as Mondelez may currently think of their biggest rivals as Mars or PepsiCo but the reality is that as the blurring of categories continues and the very definition of “snacks” changes, Yili, Dean Foods and Lactalis may be the real competitors of the future.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.