Snac World - Official State of the Industry 2024 - 42

APPLE CHIPS
STATE OF THE INDUSTRY
PEELING
A
An apple a day keeps the doctor away, but the
Apple Chip market needs physicians, EMTs
and consumers to buy more of these nutritious
snacks to nurse this once buoyant category
back to health. In 2021 during the pandemic,
sales growth topped 28% annually. In 2022,
however, sales rose only 2.8% or one-tenth of
the previous year's rate.
Now Apple Chips are taking
a bruising, tumbling 8.2%,
while units fell about the same
percentage. The performance
of several top brands was
downright rotten, dropping double
digits. That said, expanding
private label sales offset some
of these declines, indicating that
overall inflation is taking a bite out
of branded sales as budget-minded
consumers trade down or shift
purchases to more economic
products. In fact, the Circana 2023
Snacking Survey indicated 61%
of consumers stated they switch to private label
brands when their budget gets tight.
Not to compare apples to oranges, but the
AWAY THE
CLUTTER
Latest data reveals the category's healthy halo lost some of its luster.
category also faces competition from other snack
segments such as protein chips and more innovative
new popcorn products and other whole grain
snacks that also offer a value proposition that plays
in the permissible indulgence movement.
In the broader fruit snacks arena, Rind Snacks,
a part of PepsiCo, stole a page out of the trail mix
market and rolled out its Rind Remix. The product
comes in a summer-inspired Piña Colada flavor
and features a blend of roasted cashews, organic
coconut crisps and diced pineapple that provide a
nutrient-dense treat.
Bare Snacks promotes its dried Washington apples,
bananas and mixed fruit in a variety of flavors
that can be eaten straight out of the bag or used as
an ingredient in apple cheddar bits, crumbed atop
sweet potatoes or incorporated into an apple brie
nacho platter. Senaca, too, offers menu ideas such
as caramel apple chip nachos and various salads.
The long-term outlook for this category is cautiously
optimistic. Research firms like Mordor
Intelligence and Grand View Research forecasted
mid- to upper single-digit compound annual growth
rates for the overall fruit and vegetable snack segment
through the rest of the decade.
- Dan Malovany
TOP APPLE CHIP BRANDS
PRODUCT
Total Apple Chips
Bare
Seneca
Private Label
Gourmet Nut
Greenetown Foods
Dollar Sales
($mil)
$10.2
$5.1
$2.1
$2.0
$0.4
$0.3
%
Change
-8.2%
-18.1%
-11.3%
15.5%
35.6%
-21.6%
Unit Sales
(mil)
2.6
0.6
0.9
1.0
0.1
0.03
%
Change
-8.1%
-26.1%
-19.9%
15.0%
63.9%
-21.7%
Source: Circana
Total US - Multi-outlet | 52 Weeks Ending 1-28-24 | Note: Many companies may have multiple brand listings in the Circana data.
42
SNAC WORLD 2024

Snac World - Official State of the Industry 2024

Table of Contents for the Digital Edition of Snac World - Official State of the Industry 2024

Snac World - Official State of the Industry 2024 - Intro
Snac World - Official State of the Industry 2024 - 1
Snac World - Official State of the Industry 2024 - 2
Snac World - Official State of the Industry 2024 - 3
Snac World - Official State of the Industry 2024 - 4
Snac World - Official State of the Industry 2024 - 5
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