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"As snack culture shifts, brands have a major opportunity to help define the future, but only if prices remain affordable enough for consumers to enjoy innovation."
Michele Scott - Associate Director, US Research Food and Drink
US consumers don’t agree on what a snack is, with only six in ten agreeing that snacks are foods eaten between meals. Snacking habits are changing alongside definitions, making it an opportune time for brands to influence how those changes shake out.
Consumer attitudes and behaviors offer guidance to brands, while the importance of snacking, associations with indulgence and meal replacement behaviors help define key consumer segments (even if snacks themselves continue without a clear definition). Specific snack choices, then, function as both a driver of habit and a result of habit, making plenty of room for varied products and messaging. The US snacks market is as rich with opportunity as it is competition, making it important for brands to understand their target markets as robustly as possible.
Threats to the category come from health concerns, certainly, but with BFY product innovation continuing alongside evolving perspectives on meals vs snacks, the bigger threat is price. While consumers do not necessarily place the burden of price moderation on brands, those most engaged with the category are planning to trade down to cheaper brands or simply buy fewer snacks if prices continue to rise. Affordability – or the lack thereof – has potential to shape the future of snacking in the coming years.
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