Busy consumers are looking for the convenience of on-the-go nutritional food and beverages, which makes the snack category a natural on-the-go solution. The demand for “Snackification,” including portability, convenience, and satiety of products, is driving the healthy snack market, and heavily influencing the development of new on-the-go products that attract consumer attention and capitalize on market share.
Whether a brand is an established player in the on-the-go nutrition category or looking to enter the game, it should consider these market dynamics:
Understand the marketplace. According to GlobalData, the global market for savory snacks is expected to grow from US$94.5 billion in 2015 to $138.2 billion by 2020. Data from SPINS showed puffed snacks and probiotics are leading the growth in the US$20 billion on-the-go “shelf-stable chips, pretzels and snacks” category.
Identify the target market. Nearly 95 percent of Americans snack at least once a day, while nearly half reach for snacks two to three times a day. With snacking occasions on the rise, consumers are looking for healthier options made with recognizable ingredients.
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