Salty Snack Food in the United States Report
EXECUTIVE SUMMARY
The snack market has become complex in North America. Many companies have been heavily promoting the value of their products as a snack food, often increasing the energy density of their products.
The recent recession has changed people's shopping habits. According to a report published by PWC consulting, ("Basket Cases," The Economist, October 16, 2010) 93% of American consumers say they have changed their purchasing behavior as a result of the economic downturn. The snack food sector, however, has done well in terms of weathering the global economic storm.
Some consumers are buying smaller packets, which are cheaper, or huge ones, which are generally better value. Furthermore, some 18% of packaged goods buyers switched from a premium brand to a cheaper one during the recession. While the majority of consumers still buy their favorite brands, many are looking for better value options, such as their brand on sale. These price-conscious consumers view both taste and convenience as equally important when making their purchases.
The Frito Lay Corporation dominates in the snack food sector, with 6 of their brands among the top 10 most popular. Market data shows chips/crisps and tortilla/corn chips are the two most popular snack selections of American consumers, with chips/crisps capturing the highest value sales.
Within the salty snack sector, modest growth is predicted in the chip/crisps category until 2013 with volume sales slipping slightly, all the while maintaining its first place lead through to 2015. Tortilla/corn chips will continue their steady rise in volume sales over the next four years, holding their second place position. The most growth will be seen in the nuts category, reaching volume growth of 2.49% in 2015.
