Sector News

Unlocking the $1.2 trillion global snacking opportunity

November 13, 2019
Food & Drink

The average adult eats more snacks than meals on a given day, according to the first-ever State of Snacking report from Mondelez International, Inc. and The Harris Poll.

Around the world, consumers are choosing small bites over meals to fuel modern lifestyles, cultural connection and functional and emotional well-being.

The research draws from the results of an online survey of 6,068 adults across 12 markets throughout North America, Europe, Asia and Australia from Sept. 16-27.

“As the snacking market continues to grow globally, we’re living our purpose to empower people to snack right by constantly learning about the many different ways consumers around the world are snacking and evolving their relationship with food,” said Dirk Van de Put, chairman and chief executive officer of Mondelez International. “We embrace the fact that snacking habits around the world are as diverse as the consumers who enjoy them. However people snack, they should not have to choose between snacking and eating right, or to worry about the impact their choices have on the world and their communities. That’s why we’re committed to empowering people to snack right.”

A growing need for convenience and expanded well-being preferences are among factors bolstering the $1.2 trillion snacking market worldwide. Fifty-nine per cent of adults worldwide said they prefer to eat many small bites throughout the day rather than a few larger meals. The figure skews higher among millennial consumers.

Indulgence plays a key role in daily snacking routines. Seventy per cent of adults surveyed said snacks are as important to emotional well-being as physical well-being, and 76% view snacking as a mood booster.

Snacking also helps consumers control portions and manage hunger throughout the day, according to research findings. Two-thirds of adults said they look at nutrition information before buying snacks. The top qualities consumers seek in snacks are freshness (43%), low sugar (36%) and low fat (31%).

“Well-being is evolving to be more holistic and in line with people’s lifestyles and values,” said Christine Montenegro McGrath, vice-president and chief of sustainability and well-being at Mondelez International. “As the world’s largest snack company, we’re committed to transforming our portfolio to meet evolving well-being needs — removing what people don’t want, adding more of what they do, expanding our offerings and inspiring to snack mindfully. We’re focused on redesigning the experience of snacking, to help our consumers get what they need from the snacks and brands they love.”

Over the past year, Mondelez International has focused on broadening its product portfolio to offer more options and inspire mindful snacking habits. The company’s stable of brands includes Oreo and Chips Ahoy! cookies, Ritz and Triscuit crackers, belVita breakfast biscuits, Cadbury chocolate, Trident gum and Sour Patch Kids candy. Mondelez launched the SnackFutures platform a year ago to develop new brands and acquire or invest in start-ups to enhance its assortment.

By Monica Watrous

Source: Food Business News

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