‘Snackification’ Is A Strong Trend Contender In The Global Food Industry This Year
With a millennial era on the rise, food industry experts revealed that "snackification," a growing food trend, will be among the key drivers for growth in the food manufacturing and distribution sector this year.
Industry analysts pointed out that 2019 will be a year of huge changes in the food sector with more younger consumers leaning on snacks instead of full meals. According to Food Business News, Insights and Innovation Manager for Innova Market Insights, Virginia Lee, said the latest surveys revealed younger consumers tend to approach mealtime on a lighter note.
"We're finding that food innovation is focused on snackification," she said, adding that Babybel cheese crackers and Skippy Peanut Butter & Jelly are among the favorites these days.
In the past, consumers, in general, made sure to have full meals but with a millennial generation replacing meals with snacks, food manufacturers are also starting to adapt to the changes. Lee said many food manufacturing firms are considering snacks when the agenda on new products raise.
The "snackification" trend is not limited to food that consumers consider as "snacks." According to Lee, products that aren't necessarily under this category are being transformed into snack options by younger consumers who are more conscious of their weight.
Earlier this month, it was predicted that the potato chip industry will most likely benefit from increased snackification in global markets, particularly in the United States. A recent study suggested that around 15 percent of occasions with food are focused on snacks.
An apparent decline in meat-based meals could also further boost growth in the snackification food trend. In fact, the trend has been labeled as a potential driver in boosting growth in the chocolate-based spread market.
Analysts recommended that the food industry should consider looking into snackification options to better attend to the needs of the growing millennial population. Some of the snack choices that food manufacturers can put into consideration are specialty snacks.
The specialty snack category includes "on-the-go" food such as snack bars with low-fat ingredients. Bakery-based snacks are also largely becoming popular as well as nut and seed-based light food products.
Among the key players in the expansion of the snackification trend are Kellogg Company, Mars, Frito Lays, Kraft Heinz Company, Diamond Foods, Calbee, Inc., Conagra Brands, General Mills, and others.
Snack bars are expected to dominate the global food market in the coming years as consumers start recognizing the snackification trend on a positive note. Food manufacturers and distributors are also expected to feature more specialty snacks through diverse packaging options and various flavors.