2014-04-10 17:03:02 - Sweet and Savoury Snacks in the US - a new market research report on companiesandmarkets.com
Sweet and savoury snack products were able to see substantial growth from both health- and indulgence- orientated products in 2013. Snack-orientated consumers increasingly demand two things from their products, healthier options or snacks that are more flavourful and indulgent. Products such as nuts have increasingly positioned themselves as a healthy snack that can provide numerous health benefits, such as increased fibre and protein. Other snack companies have focused on making bolder and more complex tastes, such as the March 2013 introduction of Cheetos Mix-Ups, which combine numerous Cheetos products. And some of the most successful new products in 2013 have come from products that attempt to fulfil both taste and health needs, such as Popchips, which typically advertise their products´
low fat and calorie content while also releasing new innovative flavours.
PepsiCo Inc´s Frito-Lay Co division continues to lead sweet and savoury snacks, commanding a value share of 41% in 2013. The company remains the leading player in chips/crisps, extruded snacks, tortilla/corn chips and other sweet and savoury snacks and has recently started a push to validate and label some of its own products as gluten-free. In addition, the company continues to leverage the brand equity of its major snack brands in foodservice channels, such as via the release of various Taco Bell products that incorporate Doritos and Fritos.
Sweet and savoury snacks is projected to record CAGRs of 3% and 1% in constant value and volume terms, respectively, over 2013-2018. With the trend of snacking between meals likely to continue among younger consumers, the category will remain heavily prevalent in US eating habits. In addition, manufacturers will continue to compete with each other by improving both the flavour and health attributes of many of their brands as consumers now demand both from their snack products.
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