Table of Contents
Overview
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- What you need to know
- Key issues covered in this report
- Definition
Executive Summary
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- Market overview
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- Figure 1: Total US sales and forecast of salty snacks, at current prices, 2014-24
- Impact of COVID-19 on salty snacks
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- Figure 2: Short, medium and long term impact of COVID-19 on Salty Snacks, April 2020
- Top takeaways
- The issues
- Salty snack consumption sees little net change in the past year
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- Figure 3: Change in salty snack consumption, January 2020
- Popcorn, pretzels, and corn snacks could use a boost
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- Figure 4: Share of sales of salty snacks, by segment, 2017-19
- The opportunities
- Increased snacking drives increased salty snack consumption
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- Figure 5: Reasons for eating more salty snacks, January 2020
- A third of salty snacks eaters eat 3-4 types
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- Figure 6: Salty snack consumption repertoire analysis – purchase for self, January 2020
- Parents’ carts can be expanded with kid and adult options
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- Figure 7: Salty snack statements – exploration, by parental status, January 2020
The Impact of COVID-19 on Salty Snacks
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- Figure 8: Short, medium and long term impact of COVID-19 on Salty Snacks, April 2020
- Opportunities and Threats
- Salty snacks take a bite out of stress
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- Figure 9: Coronavirus life disruption concern, March-April 2020
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- Figure 10: Snack motivations, November 2018
- Brands can brag about non-perishability; bolster DTC availability
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- Figure 11: Salty snack purchase location, January 2020
- Brands have a chance to meet more than food cravings
- Channel challenges
- Established brands will benefit from familiarity and availability
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- Figure 12: Perception of food/drink brands, February 2019
- …yet getting back on the path to wellbeing will eventually resume
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Impact on the Salty Snacks Market
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- Salty snacks should see a welcomed 2020 bump from COVID-19
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- Figure 13: Total US sales and forecast of salty snacks, at current prices, 2014-24
- How the crisis will affect salty snacks’ key consumer segments
- Young shoppers already drawn toward PL and value snacks
- Parents are gonna need a bigger cart
- How a COVID-19 recession will reshape the salty snacks industry
- Growth activity will shift from upstarts back to leaders
- Private label will continue to thrive
- Hits to value brands may be balanced out by tier switching
- Online food and drink sales will accelerate
- COVID-19: US context
The Market – What You Need to Know
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- Salty snacks see strong sales growth, should brace for slowdown post-COVID-19
- Cheese and “other” salty snacks grow category share with “nutrition” focus
- Salty snacks lead the competition, but must innovate to stay relevant
- COVID-19 outbreak provides an opportunity for salty snack brands
Market Size and Forecast
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- Salty snacks should see a 2020 bump from COVID-19
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- Figure 14: Total US sales and forecast of salty snacks, at current prices, 2014-24
- Figure 15: Total US sales and forecast of salty snacks, at inflation-adjusted prices, 2014-24
Market Breakdown
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- Meat snacks maintain 20% share of salty snack sales
- Cheese snack boost driven by Keto craze
- Popcorn bubble bursts, can be revived
- Pretzels lose the largest share; time for a turnaround
- Corn snack momentum fading; options for growth exist
- BFY options help to boost “other” salty snack growth
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- Figure 16: Share of sales of salty snacks, by segment, 2017-19
- Figure 17: Total US retail sales and forecast of salty snacks, by segment, 2014-24
- “Other” retail channels strengthen lead against the competition
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- Figure 18: Total US retail sales of salty snacks, by channel, at current prices, 2017 and 2019
Market Perspective
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- Snack categories battle it out to rise with the strong snack tide
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- Figure 19: Snacking frequency, January 2015 and November 2018
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- Figure 20: Percentage growth in select snack categories, 2014-19
The Impact of COVID-19 on Salty Snacks
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- COVID-19 outbreak provides an opportunity for salty snack brands
Key Players – What You Need to Know
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- PepsiCo maintains dominance; all leaders grow
- Cheese snacks post big gains following smart innovation
- Pretzels are overdue for a disruptive twist
- Category moves in right direction with sugar; now how about that salt?
Company and Brand Sales of Salty Snacks
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- PepsiCo maintains dominance; all leaders grow
- Smaller “other” brands see strongest percentage growth, but may struggle in 2020
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- Figure 21: Multi-outlet sales of salty snacks, by leading companies, 52 weeks ending January 26, 2020
- Figure 22: Multi-outlet sales of salty snacks, by leading companies, rolling 52 weeks 2019 and 2020
What’s Working
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- Cheese snacks post big gains following smart innovation
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- Figure 23: Multi-outlet sales of cheese snacks, by leading companies and brands, rolling 52 weeks 2019 and 2020
- Smaller brands gain share on segment-leading Jack Link’s
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- Figure 24: Multi-outlet sales of meat snacks, by leading companies and brands, rolling 52 weeks 2019 and 2020
- “Other” salty snack leaders hold ground; BFY, pork rind movement seen
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- Figure 25: Multi-outlet sales of other salty snacks, by leading companies and brands, rolling 52 weeks 2019 and 2020
What’s Struggling
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- Pretzels need a makeover
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- Figure 26: Multi-outlet sales of pretzels, by leading companies and brands, rolling 52 weeks 2019 and 2020
- The popcorn bubble hasn’t quite burst, yet
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- Figure 27: Multi-outlet sales of popcorn, by leading companies and brands, rolling 52 weeks 2019 and 2020
- Come on corn snacks
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- Figure 28: Multi-outlet sales of corn snacks, by leading companies and brands, rolling 52 weeks 2019 and 2020
- Basic flavors abound; spicy and sweet flavors see growth
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- Figure 29: Salty snack launches, by leading flavors, 2018-20*
- Figure 30: Salty snack launches, by fastest growing flavors, 2018-20*
- Salty snacks move in the right direction with sugar reduction; now how about that salt?
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- Figure 31: Salty snack launches, by fastest growing claims, 2018-20*
- Figure 32: Salty snack launches, by sodium content, 2018-20*
What to Watch
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- Make it easy to snack on the go
- More reasons to snack
- Feed the indulgence
- The sophisticated splurge
The Consumer – What You Need to Know
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- Household penetration of salty snacks is strong; don’t get lazy
- Consumption sees little net change, but growth requires growth
- Category needs to do a better job at managing sodium content
- Morning and on-the-go snack occasions are a category white space
- The category should push online sales to secure share of pantry
Salty Snack Consumption
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- Salty snacks are consumed in 92% of households
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- Figure 33: Salty snack purchase, January 2020
- Women’s preference for calorie control seen in salty snack preference
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- Figure 34: Salty snack purchase – for self, by gender, January 2020
- Young shoppers gravitate toward value snacks and innovative snacks
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- Figure 35: Salty snack purchase – for self, by age, January 2020
- Pork rind heyday could be boosted by international tour of flavor/format
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- Figure 36: Salty snack purchase – for self, by Hispanic origin, January 2020
- Teens, and their parents, are strong snack target
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- Figure 37: Salty snack purchase – for child, January 2020
- A third of salty snacks eaters eat 3-4 types
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- Figure 38: Salty snack consumption – purchase for self, repertoire analysis, January 2020
- Salty snackers exhibit strong engagement
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- Figure 39: Salty snack statements – frequency, January 2020
- Younger salty snackers’ snack habits spread thinner
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- Figure 40: Salty snack statements – frequency, by age, January 2020
- Corn and cheese snacks, pretzel thins and RTE popcorn enjoy highest frequency consumption
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- Figure 41: Salty snack statements – frequency, by salty snack type, January 2020
Change in Salty Snack Consumption
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- Salty snack consumption sees little net change in the past year
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- Figure 42: Change in salty snack consumption, January 2020
- Increased snacking drives increased salty snack consumption
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- Figure 43: Reasons for eating more salty snacks, January 2020
- Meat snacks appeal on the go
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- Figure 44: Reasons for eating more salty snacks, by salty snack type purchased for self, January 2020
- Salt is a killer for salty snacks
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- Figure 45: Reasons for eating fewer salty snacks, January 2020
- Pretzels, cheese snacks and corn snacks see biggest sodium concerns
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- Figure 46: Reasons for eating fewer salty snacks, by salty snack type eaten, January 2020
- Calorie reduction can appeal to women
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- Figure 47: Reasons for eating fewer salty snacks, by gender, January 2020
- Health limits older shoppers; younger shoppers want to save money
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- Figure 48: Reasons for eating fewer salty snacks, by gender, January 2020
Salty Snack Consumption Occasions
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- Snacks are primarily consumed after noon and during at-home leisure
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- Figure 49: Salty snack consumption occasions, January 2020
- More than one in five young snackers do so in the morning
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- Figure 50: Salty snack consumption occasions, by age, January 2020
- Parents look to salty snacks to save time
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- Figure 51: Salty snack consumption occasions, by parental status, January 2020
Salty Snack Purchase Location
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- Supermarkets continue to reign; one in 10 snackers purchases online
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- Figure 52: Salty snack purchase location, January 2020
- Online target is 25-44; convenience rules among youngest shoppers
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- Figure 53: Salty snack purchase location, by age, January 2020
- Younger-skewing salty snacks perform well at convenience outlets
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- Figure 54: Salty snack purchase location, by salty snack type, January 2020
- Parents seek convenience, making them a strong target for online sales
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- Figure 55: Salty snack purchase location, by parental status, January 2020
Salty Snack Purchase Habits
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- Planned purchase
- Consumers like to have a snack stash
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- Figure 56: Salty snack statements – habits, January 2020
- Exploration
- Salty snack buyers are fairly loyal
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- Figure 57: Salty snack statements – exploration, January 2020
- 25-44s are more likely to explore the range
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- Figure 58: Salty snack statements – exploration, by age, January 2020
- Parents’ carts can be expanded with kid and adult options
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- Figure 59: Salty snack statements – exploration, by parental status, January 2020
- Variety packs
- Variety packs are more popular than single-flavor multi-packs
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- Figure 60: Salty snack statements – packs, January 2020
- Variety packs are popular among parents
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- Figure 61: Salty snack statements – packs, by parental status, January 2020
Snack Associations
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- Popcorn outperforms other segments on key attributes, needs an indulgence boost
- Meat snacks haven’t quite found their footing
- Cheese snacks lead purchase in the category, need to improve health perception
- Corn snack perception tracks with cheese snacks; sodium and carbs are Achilles heel
- It’s time for a pretzel makeover
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- Figure 62: Correspondence Analysis – Symmetrical map – Snack associations, January 2020
- Figure 63: Snack associations, January 2020
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Consumer survey data
- Correspondence analysis methodology
- Abbreviations and terms
- Abbreviations
Appendix – The Market
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- Figure 64: Total US retail sales and forecast of meat snacks, at current prices, 2014-24
- Figure 65: Total US retail sales and forecast of meat snacks, at inflation-adjusted prices, 2014-24
- Figure 66: Total US retail sales and forecast of cheese snacks, at current prices, 2014-24
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- Figure 67: Total US retail sales and forecast of cheese snacks, at inflation-adjusted prices, 2014-24
- Figure 68: Total US retail sales and forecast of popcorn, at current prices, 2014-24
- Figure 69: Total US retail sales and forecast of popcorn, at inflation-adjusted prices, 2014-24
- Figure 70: Total US retail sales and forecast of pretzels, at current prices, 2014-24
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- Figure 71: Total US retail sales and forecast of pretzels, at inflation-adjusted prices, 2014-24
- Figure 72: Total US retail sales and forecast of corn snacks, at current prices, 2014-24
- Figure 73: Total US retail sales and forecast of corn snacks, at inflation-adjusted prices, 2014-24
- Figure 74: Total US retail sales and forecast of other salty snacks, at current prices, 2014-24
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- Figure 75: Total US retail sales and forecast of other salty snacks, at inflation-adjusted prices, 2014-24
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Appendix – Retail Channels
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- Figure 76: US supermarket sales of salty snacks, at current prices, 2014-19
- Figure 77: US drugstore sales of salty snacks, at current prices, 2014-19
- Figure 78: US convenience store sales of salty snacks, at current prices, 2014-19
- Figure 79: US sales of salty snacks through other retail channels, at current prices, 2014-19
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