Snacks form an important part of the American diet, and are eaten by every segment of the population. Americans look for spontaneous food alternatives due to their busy lifestyles, which means consumers often multitask, trying to eat while they also engage in other activities. The increasing desire to create time to relax from work, find fun products, and the desire for new experiences among American consumers is expected to increase the demand for a different variety of snacks.
Most Snack foods are considered to be indulgence food. However, high income levels and health consciousness have raised demand for low fat and non-fat snack products that still taste good.
Key Market Issues
A growing proportion of Millennials (those who are born between 1978 and 2000) among the U.S. population and rising living standards will fuel the growth for consumer packaged goods in the country.
Throughout 2009 to 2012 Hypermarkets and Supermarkets have remained consumers' preferred retail format for Food items in the U.S.
Convenience is of growing importance in U.S. food culture, as consumers look for quick and easy options as a result of busy lifestyles, an increasing number of single parent households, and arise in the number of working women.
Women account for the majority of snacks consumption by volume. Both male and female markets are focused on a time-rich and older population. In addition, consumer analysis based on Wealth Groups reveals that moderate income men and affluent women have the highest consumption share.
The desire to seek out indulgent products that help consumers relax and enjoy personal space are important key touch points for consumers that should be used to drive product benefits and communications.
· This price sensitivity has driven a reduction in pack size by manufacturers, rather than an increase in price.
· Increasing health-consciousness is leading to increased demand for products with functional and natural ingredients. Functional snacks such as nuts are gaining in popularity among American consumers.
· With a rapidly aging population, marketers face the challenge of targeting middle-aged consumers and their specific nutritional needs and consumption habits. Manufacturers of Savory Snacks have adopted product innovation as a key strategy to win over new consumers, and also gain market share from competitors.
· Young and urban-based consumers will continue to seek out fun products and those that help them relax, leading to the growth of Savory Snacks products in the country.
· The Savory Snacks sector constitutes the largest market for Flexible Packaging in terms of total pack numbers. Robust growth in Potato Chips and Processed Snacks is expected to further boost demand for Flexible packaging, as it provides size flexibility, and ease of storage and transportation.
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SOURCE: Reportlinker via PR Newswire
-Edited and posted by Rick Lingle, Technical Editor