According to Mordor Intelligence, the global snack food market is expected to reach $639 billion by 2023 as consumer incomes grow and economies flourish. Gain insight into leading consumer trends and how they impact snack food packaging.
Driven largely by younger consumers’ increased health consciousness, the snack food market has adapted to meet their preference for snacks with healthy, simple and all-natural ingredients. In a study conducted by IRi, healthier snack options that are seeing top dollar growth include:
- Low/no sugar dried fruit
- Low sugar trail mix
- Snack-size fresh produce
In particular 60% of consumers want snack benefits beyond nutrition (e.g., antioxidants) and 59% want snacks that contain vitamins and minerals.
To appeal to consumer desire for healthy products, packaging companies are turning toward clean labels to help build brand loyalty, convey authenticity and drive sales. These new labels help consumers easily recognize that the snack:
- Contains no artificial ingredients or synthetic chemicals
- Is sustainably produced, minimally processed or made with real ingredients
- Is non-GMO project-verified
In addition to rising health consciousness and desire to know the snack’s ingredients, consumers also prefer to:
- See what the food looks like
- Know where it came from
To address the consumers’ desire for product transparency and reassurance, packaging companies are manufacturing snack food in clear, easy-to-see packages.
Furthermore, as consumers increasingly value healthy food options, they look for snack options that aid in portion control and calorie-counting.
Packaging companies respond to this trend by creating more single-serve options and 100 calorie snack packs.
Today’s consumers are also increasingly on-the-go. Looking to purchase food that can easily fit into their busy schedules and doesn’t need to be cooked or prepared first, they’re snacking on average 5x a day, as cited by IRi.
This increase in on-the-go snack food consumption has caused packaging companies to manufacture innovative packaging that is portable and resealable. This new packaging to meet consumer needs has caused the on-the-go snack food market to reach $1.1 billion, growing at a CAGR of 10%.
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