Baking & Snack - April 2024 - 35
TRENDS
Snacks
ing dollar sales and sliding units gave her cause for concern.
For the first time in years, she pointed out, unit
sales in the snack category underperformed the broader
food and beverage market. This indicated a potential
" sales strain " in the snack market as consumers shift
their purchasing patterns in response to inflation and
higher prices.
At that time, she mentioned the 2% decline in units
didn't disturb Circana researchers too much, but they're
keeping a close eye on that percentage going forward.
" It's when we go past the 2% mark that we start to get
nervous in an environment like we are in where you had
pretty highly inflated pricing, " she said.
Circana research has indicated the extra-large snacking
companies with $6 billion or more in sales are seeing
their share of the pie expand along with smaller businesses
with less than $100 million in sales. Lyons Wyatt
said other large and mid-sized snack companies are seeing
slight declines in their share of the market.
Snack makers also shouldn't expect the hefty an " We
found consumers were looking for ways to help
manage, not only food budgets, but also overall household
budgets, " she recently told Beth Day, contributing
editor, SNAC World magazine for SNAC International's
2024 state of the snack industry report compiled in conjunction
with Sosland Publishing. " Coming into 2024, we
will be overlapping huge dollar growth from the inflationary
period during the first part of the year. Consumers are
trying to manage all monthly expenses and have greatly
reduced discretionary spending. What we are seeing with
snacks is that what they have bought and shifts they have
made are impacting unit and volume sales. "
Lyons Wyatt added that shoppers are pulling different
levers with their snack selections. Channel surfing,
for instance, is one way to get the biggest bang for their
snacking dollars.
" Some consumers are buying less than they did before, "
she suggested. " A portion of consumers are downsizing to
buy smaller sizes, or buying multi-packs to stretch what
they have in the pantry for a longer period. Others may
not return to categories as often. Where consumers shop
has also shifted. Mass [merchandise] and convenience
channels are gaining in dollar share. Mass channels offer
value, and convenience stores offer convenient accessibility
of products. Unit sales also increased in club stores,
and Internet outlets increased volume with overall core
snacking. Specialty stores also saw an uptick in unit sales
as well. If manufacturers can increase both unit and dollar
sales, they are golden. "
Reaching a critical barrier
In a presentation at SNAC International's Executive
Leadership Forum last fall, Lyons Wyatt stated that risnual
increases in dollar sales they saw during the stayat-home
period unless companies
keep on raising prices to
cover higher ingredient, labor
and operating costs. She urged
snack companies to try to minimize
pricing partly because some
households are having difficulty
keeping up with inflation.
Some
categories
are
seeing
growth in sales, units and volume.
Specifically, corn chips hit the trifecta,
rising 19.5% to $1.9 billion
with hefty unit and volume growth,
mainly because of the performance
of Plano, Texas-based Frito-Lay
North America's dominance in the
segment. Likewise,
the
versatile
pretzel category experienced an
8.7% bump to just over $2 billion
while unit and volume eked out
slight gains.
Justin Spannuth, vice president
and chief operations officer, Unique Snacks,
Reading, Pa., and SNAC International chair, attributed
pretzels' resurgence to a move toward more premium
items, such as Dots pretzels, a brand owned by The
Hershey Co., Hershey, Pa.
" The pretzel category caught fire when Dot's disrupted
the market with a new approach to seasoned pretzels,
selling a ton of SKUs for a much higher price point, "
he explained in SNAC World magazine. " This created
a flurry of competitors chasing to ride their tailwind.
Internationalinspired
and bold flavors
fuel excitement
and spark impulse
sales in the snack
market.
Calbee USA
www.bakingbusiness.com / April 2024 Baking & Snack 35
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Baking & Snack - April 2024
Table of Contents for the Digital Edition of Baking & Snack - April 2024
Baking & Snack - April 2024 - Intro
Baking & Snack - April 2024 - 1
Baking & Snack - April 2024 - 2
Baking & Snack - April 2024 - 3
Baking & Snack - April 2024 - 4
Baking & Snack - April 2024 - 5
Baking & Snack - April 2024 - 6
Baking & Snack - April 2024 - 7
Baking & Snack - April 2024 - 8
Baking & Snack - April 2024 - 9
Baking & Snack - April 2024 - 10
Baking & Snack - April 2024 - 11
Baking & Snack - April 2024 - 12
Baking & Snack - April 2024 - 13
Baking & Snack - April 2024 - 14
Baking & Snack - April 2024 - 15
Baking & Snack - April 2024 - 16
Baking & Snack - April 2024 - 17
Baking & Snack - April 2024 - 18
Baking & Snack - April 2024 - 19
Baking & Snack - April 2024 - 20
Baking & Snack - April 2024 - 21
Baking & Snack - April 2024 - 22
Baking & Snack - April 2024 - 23
Baking & Snack - April 2024 - 24
Baking & Snack - April 2024 - 25
Baking & Snack - April 2024 - 26
Baking & Snack - April 2024 - 27
Baking & Snack - April 2024 - 28
Baking & Snack - April 2024 - 29
Baking & Snack - April 2024 - 30
Baking & Snack - April 2024 - 31
Baking & Snack - April 2024 - 32
Baking & Snack - April 2024 - 33
Baking & Snack - April 2024 - 34
Baking & Snack - April 2024 - 35
Baking & Snack - April 2024 - 36
Baking & Snack - April 2024 - 37
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Baking & Snack - April 2024 - 46
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Baking & Snack - April 2024 - 48
Baking & Snack - April 2024 - 49
Baking & Snack - April 2024 - 50
Baking & Snack - April 2024 - 51
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Baking & Snack - April 2024 - 53
Baking & Snack - April 2024 - 54
Baking & Snack - April 2024 - 55
Baking & Snack - April 2024 - 56
Baking & Snack - April 2024 - 57
Baking & Snack - April 2024 - 58
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Baking & Snack - April 2024 - 60
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http://digitalbs.bakingbusiness.com/sosland/bs/2004_05_01
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https://digitalbs.bakingbusiness.com/sosland/bs/2004_03_01
https://digitalbs.bakingbusiness.com/sosland/bs/2004_02_01
https://digitalbs.bakingbusiness.com/sosland/bs/2003_12_01
https://digitalbs.bakingbusiness.com/sosland/bs/2003_11_01
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