Khor Reports: An interesting survey on snack preferences. It is a $374 billion industry. Many snacks are processed foods, so of major interest to the palm oil sector. Notably, chocolate is the most popular snack. Other important categories include chips, cookies, bread and ice cream. Check out the graphic below from Businessweek.com and also the report linkage from Nielsen and graphic on retail sales by region.
In terms of attributes, it is interesting to read that sustainable/fair trade attributes preference rate similar to organic and that low fat preferences rate lower than low salt and low sugar. In terms of very important / moderately important/ slightly important/ less (?) important:
GMO free: 43%, 30%, 16%, 11%
Low salt/sodium: 34, 37, 19, 10
Low sugar / sugar free: 34, 37, 19, 10
Low fat: 32, 36, 21, 11
Sustainable / fair trade: 35, 34, 19, 12
Organic: 34, 35, 20, 11
Report link:
Global Consumers Nibble, Nosh and Snack Their Way to Big Sales, Global | 09-30-2014
"Whether you need a quick-fix on the go or a stand-in for a meal, snacks are more than just tasty treats; they’re also big business. Global snack sales totaled $374 billion annually as of March 2014—an increase of 2%* year-over-year, according to Nielsen retail sales data.... Europe ($167 billion) and North America ($124 billion) make up the majority of worldwide snack sales, with sales flat in Europe, and growing at a 2% rate in North America, compared to the previous year. Conversely, while annual snack sales in Asia-Pacific ($46 billion), Latin America ($30 billion) and the Middle East/Africa ($7 billion) are significantly lower than in the other two regions, annual growth in these largely developing regions increased more over the past year—4% in Asia-Pacific, 9% in Latin America and 5% in the Middle East/Africa.... While sugary and salty snacks take the lion’s share of sales, the fastest-growing snack categories are the ones to watch. Sales of savory snacks, which include crackers, rice cakes and pita chips, increased 21% in the last year in Latin America. Meat snacks, like jerky and dried meat, grew 25% in the Middle East/Africa and 15% in North America. Refrigerated snacks, including yogurt, cheese snacks and pudding, jumped 6.4% in Asia-Pacific, while dips and spreads, which include salsa and hummus, rose 6.8% in Europe....“Non-sugary snacks closely aligned with meal-replacement foods are showing strong growth, which signals a shift in a consumer mindset to one focused on health,” said Dunn. “While conventional cookies, cakes and confections categories still hold the majority share of snack sales, more innovation in the healthy snacking and portable food space is necessary to adjust to this changing dynamic.”...
http://www.nielsen.com/us/en/insights/news/2014/global-consumers-nibble-nosh-and-snack-their-way-to-big-sales.html
In terms of attributes, it is interesting to read that sustainable/fair trade attributes preference rate similar to organic and that low fat preferences rate lower than low salt and low sugar. In terms of very important / moderately important/ slightly important/ less (?) important:
GMO free: 43%, 30%, 16%, 11%
Low salt/sodium: 34, 37, 19, 10
Low sugar / sugar free: 34, 37, 19, 10
Low fat: 32, 36, 21, 11
Sustainable / fair trade: 35, 34, 19, 12
Organic: 34, 35, 20, 11
source: Businesweek.com from Nielsen
global snacking study;
What the World Eats When It's Snack Time By Venessa Wong September 30, 2014
http://www.businessweek.com/articles/2014-09-30/global-snack-survey-what-the-world-eats-when-its-time-for-a-snack?campaign_id=DN093014
http://www.businessweek.com/articles/2014-09-30/global-snack-survey-what-the-world-eats-when-its-time-for-a-snack?campaign_id=DN093014
Report link:
Global Consumers Nibble, Nosh and Snack Their Way to Big Sales, Global | 09-30-2014
"Whether you need a quick-fix on the go or a stand-in for a meal, snacks are more than just tasty treats; they’re also big business. Global snack sales totaled $374 billion annually as of March 2014—an increase of 2%* year-over-year, according to Nielsen retail sales data.... Europe ($167 billion) and North America ($124 billion) make up the majority of worldwide snack sales, with sales flat in Europe, and growing at a 2% rate in North America, compared to the previous year. Conversely, while annual snack sales in Asia-Pacific ($46 billion), Latin America ($30 billion) and the Middle East/Africa ($7 billion) are significantly lower than in the other two regions, annual growth in these largely developing regions increased more over the past year—4% in Asia-Pacific, 9% in Latin America and 5% in the Middle East/Africa.... While sugary and salty snacks take the lion’s share of sales, the fastest-growing snack categories are the ones to watch. Sales of savory snacks, which include crackers, rice cakes and pita chips, increased 21% in the last year in Latin America. Meat snacks, like jerky and dried meat, grew 25% in the Middle East/Africa and 15% in North America. Refrigerated snacks, including yogurt, cheese snacks and pudding, jumped 6.4% in Asia-Pacific, while dips and spreads, which include salsa and hummus, rose 6.8% in Europe....“Non-sugary snacks closely aligned with meal-replacement foods are showing strong growth, which signals a shift in a consumer mindset to one focused on health,” said Dunn. “While conventional cookies, cakes and confections categories still hold the majority share of snack sales, more innovation in the healthy snacking and portable food space is necessary to adjust to this changing dynamic.”...
http://www.nielsen.com/us/en/insights/news/2014/global-consumers-nibble-nosh-and-snack-their-way-to-big-sales.html
