• Analysts predict that the salty snack industry will continue to grow over the next few years, even as the global economic downturn caused by COVID-19 negatively affects consumer spending
The baked snack industry appears to be enjoying opportunities, with consumer demand in Europe and other areas of the world requiring an ever-widening range of products. Even though the market for salty baked snacks is increasingly competitive, the concern for finding healthy products and new flavors can be the engine of success in this industry. Analysts predict that the segment of baked snacks, such as cookies, bagels or sticks, will continue to grow in the next few years, despite the fact that the global economic recession caused by COVID-19 negatively affects consumer spending. With the worsening economic situation, however, an affordable price will be the criterion that will ultimately influence sales.
The tendency of consumers is to replace main meals with snacks
More than 90% of American consumers eat baked snacks daily, and half of adults eat snacks 2-3 times a day, on average. Baked salty snacks are in high demand, especially among young people. Almost two-thirds (64%) of those between the ages of 18 and 24 opt for such products three or more times a day, writes worldbakers.com. Moreover, the trend is to replace main meals with snacks, and the choice to satisfy hunger with "mini-meals" tends to become a habit for the too-busy or too-bored American. This food pattern is now also observed in Europe.
Brits opt for baked snacks at least once a day
According to a recent survey by KP Snacks, 63% of UK consumers opt for baked snacks at least once a day. Of these, 79% consume them at home, 47% at work and 18% while commuting, on foot or in transport. Although taste is the main factor when choosing a product, more fans of baked snacks look for products in mini portions to keep calories in check, but also choose varieties that they consider healthier. This trend is more pronounced among young adults and families with children.
In lockdown, people consumed more snacks in front of the laptop or TV
In many European markets, sales of salty baked snacks have increased during the restrictions imposed by the safety measures against COVID-19. During these stressful times, consumers (at least in the first stages of the lockdown) turned to different assortments of salty snacks choosing something convenient to eat or "something good" at an affordable price. The inability to socialize outside the home has also led to increased consumption of baked snacks in front of the laptop or TV. These trends were more evident among women than men (36% vs. 31%). In the UK, consumption of snacks at home was more pronounced in the second quarter of 2020.
