Snac World - Official State of the Industry 2023 - 20
STATE OF THE INDUSTRY
HEALTHY AND AFFORDABLE
It's no surprise that private label, value and mainstream
brands grew their share during the past year
over the premium and
super premium brands.
Private label suffered
during the pandemic as
shoppers sought premium
comfort, but private label
has rallied, increasing share
over the past two quarters.
" The flexibility of snacking
contributes to its durability, "
Ms. Cochran said.
" As inflation took hold in
the last year, we saw savory
snacks drive the category,
making up 57% of
the total category. Drilling
a bit deeper, we saw
private label, value and
Frito-Lay North America
mainstream brands begin to grow share in the last
year. This dynamic is different from what we saw
pre-COVID and during COVID. Again, driving home
the ability of the category to respond to our consumers. "
Consumers
are also turning away from more expensive
snacks like meat snacks - volume sales
were down 8% over the past 13 weeks - while
affordable kid-friendly fruit snacks that easily slip
into lunch boxes saw a 9% volume sales gain over
the same period.
The majority of better-for-you (BFY) brands are
in the super premium tier of snacking, but that tier
has decelerated since 2019 because cheaper BFY
brands are driving growth in that category.
" There's a growing influence moving down to
premium and the mainstream sections on the price
tiers within BFY, " Mr. Florio said. " That's coming
from PopCorners, then you have some traditional
salty snacks like Kettle brand making BFY chips. "
Although health and wellness claims are still
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Snac World - Official State of the Industry 2023
Table of Contents for the Digital Edition of Snac World - Official State of the Industry 2023
Snac World - Official State of the Industry 2023 - Intro
Snac World - Official State of the Industry 2023 - 1
Snac World - Official State of the Industry 2023 - 2
Snac World - Official State of the Industry 2023 - 3
Snac World - Official State of the Industry 2023 - 4
Snac World - Official State of the Industry 2023 - 5
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