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Reduced Restaurant Dining & Rising Consumer Health Awareness Fuel $64 Billion U.S. Snack Food Market
Health continues to be a strong motivator for food and beverage purchases among U.S. consumers, and Packaged Facts forecasts that it will remain so for the foreseeable future.
In Snack Foods in the U.S., 4th Edition, market research publisher Packaged Facts reports that U.S. retail sales of packaged snacks reached $64 billion in 2010, up from $56 billion in 2006, for a compound annual growth rate (CAGR) of 3%. U.S. retail sales of packaged snacks are projected to reach $77 billion by 2015, with annual growth rates edging up from 3.5% in 2011 to 4% by 2013.
“The boundaries between meals and snacks are growing ever blurrier, creating consumer consumption habits that will resonate for generations. The children of today, comfortable with replacing entire meals with snacks, will pass these lifestyle traits on to their children, ensuring that snacking will remain a big part of American life,” says David Sprinkle, research director and publisher of Packaged Facts.
Health continues to be a strong motivator for food and beverage purchases among U.S. consumers, and Packaged Facts forecasts that it will remain so for the foreseeable future. The pursuit of wellness spans all age groups: the aging population is seeking ways to feel younger and more vital, and the nation as a whole has realized that healthy eating habits need to be taught early on to fight the obesity epidemic. Packaged Facts’ March 2011 Food Shopper Insights Survey reveals that the majority of adult consumers surveyed are actively working to improve their physical health (69%) and incorporate wellness goals and concerns into their daily routines (52%).
As consumers seek ways to achieve a healthier lifestyle, snack foods that are marketed as “better for you” will remain popular. Companies are realizing that they must highlight attributes such as vitamins, minerals, fiber content and lower sodium to both educate consumers and take advantage of demand for such products. At the same time, with the ever-growing abundance of “better-for-
Snack Foods in the U.S., 4th Edition examines the market for packaged sweet and salty snacks within the context of broader food industry trends in new product development and marketing. The report investigates not only the sales data, new product introductions and market positioning strategies, but also the lifestyle patterns that contribute to the rise and fall of snacking trends. This completely revised edition provides an omnibus approach to the market, examining snacks via two broad classifications, sweet and salty/savory, while providing greater detail for dozens of categories and segments.
A new feature of this study is data from Packaged Facts’ March 2011 Food Shopper Insights Survey. By capturing the shopping patterns and attitudes of adults who have shopped for groceries within 24 hours of being surveyed, these data paint a detailed picture of U.S. snack trends by broader consumer health goals and nutrition concerns, ingredient concerns such as low-sugar and gluten-free, purchase motivators such as “family favorite” and “product looked appetizing,”
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About Packaged Facts – Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer goods and retailing, foods and beverages, demographics, pet products and services, and financial products. Packaged Facts also offers a full range of custom research services. To learn more, visit: www.packagedfacts.com. Follow us on Facebook, LinkedIn and Twitter.
Page Updated Last on: Jul 22, 2011