Consumers want a lot from their snacks. They want a steady stream of new flavors to keep them engaged, and increasingly, they want more nutritionally dense versions of traditional chips, pretzels, and puffs. Manufacturers have been happy to comply with a slew of “alternative” better-for-you snacks in a variety of new flavors.
Plant-based snacks are a significant source of growth in the category and, while they still represent a small percentage of overall category sales, growth in the segment is outpacing that of traditional snacks.
“According to the FMI/The Hartman Group’s ‘U.S. Grocery Shopper Trends COVID-19 Tracker’ report, 44% of consumers say they are eating healthier during the pandemic,” says Rasheda Boyd, senior marketing director at PopCorners, which markets that brand as well as soybean and cassava-based Flex Protein Crisps and Flourish Veggie Crisps gluten-free air-popped snacks. “Moreover, The Hartman Group’s recent ‘Snacking: Emerging, Evolving, and Disrupted’ report indicates that 48% of all food and beverage occasions are snacking occasions. This tells us that the better-for-you snack category is here to stay and is only increasing in demand.”
Category giant PepsiCo, which has already acquired PopCorners as well as Bare Snacks, maker of baked fruit and veggie chips, recently revealed a joint venture with El Segundo, Calif.-based meat-substitute manufacturer Beyond Meat Inc., a move that will likely lead to even more action in the segment.
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