Eating occasions and snacking patterns have been altered. With rising concern for health, consumers are seeking out nutritionally qualified snacks with more attention to what is considered “good for me”. In addition, out-of-home occasions are reemerging; however, high prices are forcing consumers to scrutinise value propositions. Product offerings must be re-evaluated to assure fit for modern occasions and brands must deliver on shifting expectations in value, health and mobility.
This report comes in PPT.
As activities out of the home revive, compared to previous years of home seclusions, channel opportunities are re-awakening and nutrient needs are expanding. Impulse habits are expected to slightly benefit from more mobile consumers, given the growing opportunities to intercept consumers beyond the home; however, financial pressures are altering how impulses are acted upon.
The line drawn between a completely healthy or indulgent snack is expected to blur further as nutrition/health priorities pervade newer innovations and consumers continue acting on their personal standards of health. But as marketing and regulated claims and features create confusion around health, consumers are expected to rely more on their intuition to guide them to what looks, feels, and tastes good. All in all, amidst the growth of more nutritional snacking, taste will continue to be a priority for all food choices, supporting the growth of permissibly indulgent formulations and features that enable healthy snacks to be seen and felt as desirable.
Even considering the resilience of snacks sales growth amidst prices hikes, manufacturers should expect that consumers are facing tougher decisions in their purchasing. More considered/pre-planned purchases and less inclination towards impulses will challenge manufacturers’ agility in executing on point of purchase. And consumers’ inflated perception of good value will challenge how manufacturers market cost-worthy benefits. Snack players should be focused on lowering value hurdles by innovatively promoting benefits and utility.
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