Savoury snacks benefitted significantly from the pandemic. During the various lockdowns, consumers opted to indulge in savoury snacks when watching movies and when working from home or playing games on their computers.
The pandemic accelerated a long-term shift from smaller packages (90g and smaller) to larger packages (especially 111-201g). Pack sizes of 200g and over experienced the strongest growth.
The closure of cinemas and home seclusion also boosted consumption of tortilla chips and potato chips in 2020. Although both categories are expected to experience a significant slowdown in 2021 as society reopens and consumers begin to socialise and start going out to entertainment venues, consumption is expected to remain above pre-pandemic levels in 2021.
The trend in consumption of salty snacks will continue over the forecast period despite the rise in healthy lifestyles. However, while salty snacks will maintain a solid consumer base over the forecast period, healthy variants such as vegetable and pulse chips and reduced fat potato chips will remain small categories, although they will provide good potential.
In nuts, seeds and trail mixes, peanuts will continue to lose ground to healthier trail mixes, seeds, mixed nuts, cashews and pistachios. Despite weakening consumer purchasing power and the relatively expensive unit prices of the latter, they will remain affordable due to the wide penetration of private label, which will gain ground and strengthen its position over the forecast period.
Increased price sensitivity is expected to be observed in 2021 as a consumer response to the economic uncertainty created by the pandemic. As a result, private label is set to make further gains.
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This report originates from Passport, our Sweet and Savoury Snacks research and analysis database.
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