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Innovation In Healthy Snacks: Growth Opportunities In Guilt-Free, Functional And Hi-Energy Products
Business Insights, Jan 2008, Pages: 133
Consumers are increasingly looking to eat healthily, and this is reflected in growing demand for snack products perceived as nutritious. A new generation of snack products are emerging that contain new functional ingredients, use fat and sugar replacers and are developed with new cooking processes to make them healthier. Recent innovations include drinks to replace snacking occasions, satiety promoting products and vitality boosting snacks. It is these latest developments that will lead the way in the future. Innovation in healthy Snacks is a new management report published by Business Insights that tracks the development of healthier snacking options within the wider market.
It looks at how different companies are gaining competitive advantage through healthier snack formulation and positioning. The current status and potential of key areas such as low no, functional, natural organic and sports fitness snacks is assessed, together with emergent areas and marketing trends. Develop more effective strategies for healthy snacks using this report’s analysis of the development of the healthy snacks market by country and product category.
Key Issues examined by this Report
-Public health concerns such as obesity and related illnesses are exercising a high degree of influence over the wider snacks industry. In the US, companies are co-operating with government and interest groups with a view to developing snacks t hat conform to specific nutritional criteria. This trend is expected to spread internationally.
- Reformulation of snack ranges with lower fat and salt levels is blurring the distinction between better-for-you snacks and standard products. Using less unhealthy fats in snacks manufacture is becoming widespread, along with modifying the manufacturing process using ‘baked’ and ‘unprocessed’ methods instead.
- Positive nutrition is playing a major role in the market, with the new generation of healthy snacks based on healthier ingredients including organics and those with funct ional properties.
- Functional snacks are also evolving along the lines of healthy indulgence products, with consumers enjoying guilt-free indulgence through eating snacks that also provide health benefits.
This report will enable you to..
- Identify key players in the healthy snacks market including PepsiCo, General Mills and Kraft. These companies have adapted core ranges and launched new products in order to benefit from the trend in healthy snacking.
- Predict future market growth levels with this report's up-to-date healthy snacking occasions data, and understand the major issues that are impacting on snacking now and in the future using functional snacks and sports bars market value data.
- Anticipate the impact of key trends in the healthy snacks market and quantify the new and emerging opportunities from growth areas including functional, organic, low/no, sports and fitness and healthy indulgence snacks.
- Improve targeting and the effectiveness of your NPD strategies with this report’s analysis of Product scan data of over 2,700 healthy snack products launched between 2004 and 2007, detailing regional contribution, category coverage, product claims and fast-growth flavours.
Key Findings
- Organic snacks now account for 2% of the savory snack market in Europe and the US with sales of $820 million in 2007. The US market is growing at more than 20% per annum and higher growth is anticipated in Europe.
- Natural is the most common claim on healthy snacks, used by 7.5% of products launched in 2007. The claim has increased in share since 2005. Organic is also a fast-growth claim.
- The $1.2 billion functional snack sector is growing fast in Europe, now accounting for 13% of savoury snack sales in Italy. Penetration is expected to develop significantly in countries such as the US and UK where functional snack share is still low.
- Healthy snacking occasions now outweigh unhealthy snacking across Europe and the US. A third of consumers see healthy snacking as a way to get important nutrients into their diet.
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