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Snacking - understanding existing trends, capitalizing on new trends and looking to counteract inhibitors in the market

  • May 2014
  • 85 pages
  • GlobalData
Report ID: 2116217

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Summary

Snacking – understanding existing trends, capitalizing on new trends and looking to counteract inhibitors in the market is a detailed insight report highlighting the most important trends and untapped opportunities in snacking markets. The increase of fragmented meal times and the need for on-the-go products in both developed and emerging economies are directly influencing consumer product choices, fundamentally changing the way that people snack. The change in consumer lifestyles including skipping meals and increased snacking on-the-go means that retailers and manufacturers need to keep up to date with salient issues that are affecting consumers’ eating habits. The report identifies the key consumer groups to target and provides recommendations to capitalize on growing trends that are driving consumption.

Key Findings

• The Snacking market is growing substantially faster than the Meals and Meal Components markets.
• Fragmented meal times are leaving consumers more dependent on snacks for their nutritional intake, creating an opportunity for healthy snacks and meals blurring.
• Time scarcity, whether real or perceived, is rife amongst consumers who are seeking out convenient snacking items that can be consumed whilst on-the-go and in place of traditional meal time items.
• While manufacturers need to appreciate the growing health consciousness of consumers they must remember that taste and indulgence will always remain key motivators for the consumption of snacking items.
• Snack consumption varies by time of day with consumers being inherently healthier in the morning and seeking indulgent snacks that aid escapism by the afternoon.
• Retailers should be aware of the increasing popularity of saver menus from quick serve restaurants as these pose strong competition for the future of the snacking market.

Synopsis

Snacking – understanding existing trends, capitalizing on new trends and looking to counteract inhibitors in the market highlights key consumer groups that offer both new and ongoing opportunities for development. It identifies and dispels myths surrounding health seeking and time scarcity in snacking and outlines how to effectively position differentiated products to target these needs. Important consumption motivations and changes in consumer behaviour are analysed and recommendations for manufacturers and retailers are drawn from this, identifying profitable markets and areas for innovation.

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• Key consumer demographic groups driving the consumption of Snacks based on demographic profiles: Developed Economies (France, Germany, Italy, Spain, the UK and the US) and Emerging Economies (Brazil, Russia, India and China). The figures showcase how frequently consumers snack and pinpoint exactly which regions are growing.
• Which demographic groups ‘over’ consume, for instance groups of consumers that eat a larger share of snacks when compared to their share of the population.
• Analysis of emerging consumer trends including meal time fragmentation and exactly how this is affecting the snacking market; in addition the report outlines products that have successfully capitalized on existing trends and the trends that are available for manufacturers to target with innovation in the future.
• Unique insights into market data and the implications of this to manufactures and retailers operating in the snacking market; for instance how the influence of the new health conscious wave of consumers is driving growth in the yogurt market.

Reasons To Buy

• Consumer analysis and case studies provide insight into the snacking market and clear opportunities for new product development are explored.
• Canadean’s unique consumer data, developed from extensive consumption surveys and consumer group tracking, quantifies the influence of 20 consumption motivations across 5 snacking categories, hence granting a thorough understanding of consumer behavior.
• The recommended actions and analysis throughout the report will allow manufacturers to align their research and development and marketing strategy with the stand out trends influencing consumer behavior.

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