Urbanisation has historically driven snackification, with snacks typically characterised by convenience and portability traits that enable on-the-go and impulse snacking moments. With “anytime, anywhere” now less dependent on storefronts and physical touchpoints, there is greater focus on ubiquity, value and more targeted health attributes. These factors all point towards an evolved future of key traits that may lead to successful innovation.
This report comes in PPT.
Historically, urbanisation has driven snackification. Convenience and portability were key due to time pressures and a growing on-demand culture. Two years following the onset of the Coronavirus pandemic, digitalisation and technology became key elements, while premiumisation is negatively affected by the economic costs of the pandemic. Lastly, health priorities remain important offering innovation opportunities.
In order to adapt to consumers’ new normal, two pillars of innovation will enable snacks players to keep the product offering more relevant than ever. Snacks manufacturers need to launch new formats for their best-selling brands and innovate in permissible indulgence. Health attributes must be accompanied by clear messages and with no compromise on taste.
The demand for impulse will not be eradicated. Rather, there is a need for new fulfilment methods, hence digital advancements and the emergence of new business models must be leveraged. New snacking occasions must be actively created that are remotely accessible to consumers throughout the day by aligning with occasions such as celebrations at home.
Opportunities lie in fulfilling consumers’ snacking motivations of meal replacement, self-reward and distracted snacking. Businesses must create innovations aligned with freshly evolved consumer needs that serve these snacking occasions to better position themselves to gain greater share of stomach and wallet in the post-pandemic era.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!