Appetite for snack foods soars

New product activity in the global snack foods industry is defying worldwide economic problems, according to a market research analyst.
Launch numbers recorded by Innova Market Insights showed a strong double-digit increase last year, with savory and salty snacks accounting for just under two-thirds of the total, and snack nuts and seeds the remainder.
Asia and Latin America saw the biggest increases in snack launch numbers over the year, with high levels in these relatively underdeveloped regions disguising lower levels of growth in more mature markets, particularly the US, but also parts of Western Europe.
Launches in Asia accounted for nearly 40 per cent of total snack introductions, ahead of Europe with just under 30 per cent. Within Europe, the UK, Germany and the Netherlands had some of the highest levels of product activity, reflecting relatively high per capita consumption levels in these countries.
“Despite the increasing competition from other snacks, savory snacks and nuts are more than holding their own,” says Lu Ann Williams, Innova Market Insights research manager. “This is largely via growing emphasis on authenticity, originality, strong and exotic flavours and more convenient packaging concepts, often supported by a healthy or natural angle and strong branding.”
Interestingly, nearly 40 per cent of launches recorded by the market analyst last year also had a health positioning. The majority offered passive benefits, such as wholegrain, organic, gluten-free or low and light, but also – to a lesser degree – active benefits, such as vitamin and mineral fortification, levels of omega-3 fatty acids or bone health. This rises to over 60 per cent in the US.”