Table of Contents
Overview
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- What you need to know
- Definition
Executive Summary
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- Salty snack sales rise
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- Figure 1: Total US retail sales and forecast of salty snacks, at current prices, 2011-21
- The issues
- Pretzels and pork rinds experience stagnant growth
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- Figure 2: Total US retail sales and forecast of salty snacks, by segment, at current prices, 2011-16
- RTE popcorn outshines microwavable
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- Figure 3: MULO sales of popcorn segments, 2012-16
- The opportunities
- There are still whitespaces for salty snack brands
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- Figure 4: Salty snack statement agreement, February 2017
- New product trial motivators vary by consumer demographics
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- Figure 5: Salty snack new product purchase motivators, by generation, February 2017
- Salty snacks can satisfy different occasions
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- Figure 6: Salty snack occasion, by snack categories, February 2017
- Understanding consumer types
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- Figure 7: Meat snack product interest, by salty snack segmentation, February 2017
- What it means
The Market - What You Need to Know
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- Sales of salty snacks continue to grow
- Consumers have a multitude of snacks to choose
- Forget Millennials, iGens are key snackers
Market Size and Forecast
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- Salty snacks market experiences steady growth
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- Figure 8: Total US retail sales and forecast of salty snacks, at current prices, 2011-21
- Figure 9: Total US retail sales and forecast of salty snacks, at current prices, 2011-21
Market Breakdown
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- Meat snacks continue to outperform other snacks
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- Figure 10: Total US retail sales and forecast of salty snacks, by segment, at current prices, 2011-16
- Figure 11: Total US retail sales and forecast of salty snacks, cheese snacks, popcorn, and pretzels, at current prices, 2011-21
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- Figure 12: Total US retail sales and forecast of salty snacks, by corn snacks, meat snacks, and pork rinds, at current prices, 2011-21
- Figure 13: Total US retail sales of salty snacks, by segment share, 2014 and 2016
- C-stores and “other” retailers see strong salty snack sales
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- Figure 14: Total US retail sales of salty snacks, by channel, at current prices, 2011-16
Market Perspective
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- Consumers are inundated with snack choices
Market Factors
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- Snacking is a frequent universal occasion
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- Figure 15: Food statement agreement, any agree, Fall 2016
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- Figure 16: Snacking attitudes, Fall 2012-16
Understanding iGens
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- Figure 17: Population by generation, 2012-22
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- Figure 18: Distribution of generations by race and Hispanic origin, 2017
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Key Players – What You Need to Know
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- PepsiCo is the largest salty snack company
- Popcorn and meat snacks benefit from flavors, familiarity, and premium varieties
- Pretzels and non-RTE popcorn are getting lost in the market
- Innovative products are bringing new opportunities and challenges
Company and Brand Sales of Salty Snacks
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- PepsiCo’s share of the salty snacks market continues to grow
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- Figure 19: MULO sales of salty snacks, by leading companies, rolling 52 weeks 2015 and 2016
What’s Working?
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- Popcorn flavors diversify
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- Figure 20: New popcorn products, flavor component group, 2012-17
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- Figure 21: New popcorn products, select flavors, 2012-17
- Jerky: trendy and classic at the same time
- While many jerky brands are growing, the following are some noteworthy brands:
- Meat snacks go premium/feel good
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- Figure 22: New meat snack products, select claims, 2012-17
- Regular Cheetos is a billion dollar brand
What’s Struggling?
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- Pretzels need to look to new opportunities for growth
- Growth of RTE popcorn comes at expense of microwavable/kernels
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- Figure 23: MULO sales of popcorn segments, 2012-16
- Meat snack bars may be too unique…for now
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- Figure 24: Meat snack bars, purchase intent score, March 2016-March2017
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- Figure 25: Meat snack bars, product attributes March 2016-March2017
- Figure 26: Meat snack bars, purchase intent score March 2016-March2017
What’s Next?
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- Organic snacks becoming more commonplace
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- Figure 27: All salty snack products, organic claims, 2012-17
- Refrigerated meat snacks compete with dried brands
- Is sorghum the next RTE popcorn?
- RTE popcorn format evolves
The Consumer – What You Need to Know
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- Salty snacks are a HH staple
- Occasion often dictates which snack is chosen
- Different factors motivate consumers to try a new salty snack
- Premium and free-from snacks are still areas of opportunity
Salty Snack Purchases
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- Nine out of 10 consumers buy salty snacks
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- Figure 28: Salty snacks purchased, any HH purchase, February 2017
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- Figure 29: Salty snacks purchased, any HH purchase, February 2017
- Men out buy women in salty snack purchases
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- Figure 30: Salty snacks purchased, any HH purchase, by gender, February 2017
- iGens are heavy snack purchasers
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- Figure 31: Salty snacks purchased, any HH purchase, by generation, February 2017
- Hispanics are primary pork rind consumers
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- Figure 32: Salty snacks purchased, any HH purchase, by Hispanic origin, February 2017
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- Figure 33: Salty snacks purchased, any HH purchase, by race, February 2017
- Snack purchases vary by area
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- Figure 34: Salty snacks purchased, any HH purchase, by area, February 2017
Pretzel Deep Dive – Product Interest
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- Flavored pretzels lead the way
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- Figure 35: Pretzel product interest, February 2017
- Young consumers crave indulgent pretzels
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- Figure 36: Pretzel product interest, by age, February 2017
- Organic options appeal to Ingredient Searchers
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- Figure 37: Pretzel product interest, by salty snack segmentation, February 2017
Pretzel Deep Dive – Pretzel Pairings
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- Even better with a dip
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- Figure 38: Pretzel pairing interest. February 2017
Meat Snack Deep Dive – Product Interest
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- Take meat snacks gourmet
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- Figure 39: Meat snack product interest, February 2017
- Meat snack: TURF analysis
- Methodology
- Two types of meat snacks appeal to 65% of consumers
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- Figure 40: TURF analysis – Meat snack product interest, February 2017
- Young consumers drive interest in new meat snack formats
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- Figure 41: Meat snack product interest, by age, February 2017
- Opportunity for feel-good/free-from meat snacks
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- Figure 42: Meat snack product interest, by salty snack segmentation, February 2017
- Product deep dive: Lorissa’s Kitchen Korean BBQ Premium Steak Strips
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- Figure 43: Lorissa’s Kitchen, purchase intent score, by gender, March 2016-March 2017
Meat Snack Deep Dive – Protein Appeal
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- Meat snack bars can stand out with unique proteins
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- Figure 44: Meat snack protein appeal, February 2017
- Meat snack protein appeal: TURF analysis
- Methodology
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- Figure 45: TURF analysis –Meat snack protein appeal, February 2017
Popcorn Deep Dive – Product Interest
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- RTE buyers are open to more flavors
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- Figure 46: Popcorn product interest, February 2017
- Female consumers respond to natural popcorn products
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- Figure 47: Popcorn product interest, by gender, February 2017
- Young consumers are the target market for flavored popcorn
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- Figure 48: Popcorn product interest, by age, February 2017
- Balance “free-from” with flavor to reach a mass audience
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- Figure 49: Popcorn product interest, by age, February 2017
- Caramel popcorn is the low hanging fruit but look to new flavors as well
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- Figure 50: Desired popcorn flavors, open-ended, February 2017
Salty Snack Occasions
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- Different salty snacks satisfy various need states
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- Figure 51: Salty snack occasion, by snack categories, February 2017
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- Figure 52: Salty snack occasion, by snack categories, February 2017
- Consumers buy the same snack for different reasons
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- Figure 53: Salty snack occasion, pretzels, by gender and age, February 2017
New Product Purchase Motivators
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- Flavors lead to new product purchases
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- Figure 54: Salty snack new product purchase motivators, February 2017
- Increase trial among female consumers
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- Figure 55: Salty snack new product purchase motivators, by gender, February 2017
- Opportunity to drive trial among the generations
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- Figure 56: Salty snack new product purchase motivators, by generation, February 2017
- Consumer types are motivated by different factors
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- Figure 57: Salty snack new product purchase motivators, by salty snack segmentation, February 2017
Salty Snack Statement Agreement
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- Whitespace still exists in the crowded salty snacks market
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- Figure 58: Salty snack statement agreement, February 2017
- Men are more likely to put flavor first
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- Figure 59: Salty snack statement agreement, by gender, February 2017
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- Figure 60: Salty snack statement agreement, by gender and age, February 2017
- Nostalgia is strong with younger consumers; functional packaging appeals to older consumers
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- Figure 61: Salty snack statement agreement, by generation, February 2017
- Interest in premium correlates to income
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- Figure 62: Salty snack statement agreement, by age and HH income, February 2017
- Salty snack segmentation: Understanding the consumers
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- Figure 63: Salty snack segmentation indexes against all survey respondents, February 2017
- Salty snack segmentation: Attitudes
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- Figure 64: Salty snack statement agreement, by salty snack segmentation, February 2017
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Fan chart forecast
- Consumer survey data
- Abbreviations and terms
- Abbreviations
Appendix – Market
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- Figure 65: Total US retail sales and forecast of salty snacks, at inflation-adjusted prices, 2011-21
- Figure 66: Total US retail sales and forecast of cheese snacks, at current prices, 2011-21
- Figure 67: Total US retail sales and forecast of cheese snacks, at inflation-adjusted prices, 2011-21
- Figure 68: Total US retail sales and forecast of popcorn, at current prices, 2011-21
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- Figure 69: Total US retail sales and forecast of popcorn, at inflation-adjusted prices, 2011-21
- Figure 70: Total US retail sales and forecast of pretzels, at current prices, 2011-21
- Figure 71: Total US retail sales and forecast of pretzels, at inflation-adjusted prices, 2011-21
- Figure 72: Total US retail sales and forecast of corn snacks, at current prices, 2011-21
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- Figure 73: Total US retail sales and forecast of corn snacks, at inflation-adjusted prices, 2011-21
- Figure 74: Total US retail sales and forecast of meat snacks, at current prices, 2011-21
- Figure 75: Total US retail sales and forecast of meat snacks, at inflation-adjusted prices, 2011-21
- Figure 76: Total US retail sales and forecast of pork rinds, at current prices, 2011-21
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- Figure 77: Total US retail sales and forecast of pork rinds, at inflation-adjusted prices, 2012-21
- Figure 78: Total US retail sales of salty snacks, by channel, at current prices, 2014 and 2016
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Appendix – Key Players
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- Figure 79: MULO sales of cheese snacks, by leading companies and brands, rolling 52 weeks 2015 and 2016
- Figure 80: MULO sales of popcorn, by leading companies and brands, rolling 52 weeks 2015 and 2016
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- Figure 81: MULO sales of pretzels, by leading companies and brands, rolling 52 weeks 2015 and 2016
- Figure 82: MULO sales of corn snacks, by leading companies and brands, rolling 52 weeks 2015 and 2016
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- Figure 83: MULO sales of meat snacks, by leading companies and brands, rolling 52 weeks 2015 and 2016
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Appendix – Consumer
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- Figure 84: Table - TURF Analysis – Meat snack product interest, February 2017
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- Figure 85: Desired popcorn flavors, open-ended, top 10 flavors, February 2017
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