Research: Americans turn to salty snacks for comfort, familiarity during inflation times
In line with increasing inflation, 43% of consumers consider salty snacks' price to be its most important attribute.
While the salty snack market continues to grow, it is feeling some effects from tightened budgets. Mintel research shows those who report their financial situations as struggling/in trouble are most likely (34%) to have decreased year-over-year salty snack consumption. Among those who haven't increased consumption, 37% would be motivated to purchase more salty snacks if there were more budget-friendly options. In line with increasing inflation, 43% of consumers today consider the price of salty snacks to be the most important attribute, compared to 37% in 2022. When it comes to other salty snack attributes, flavor (40%) and brand familiarity (40%) remain important to consumers.
Despite budgets being squeezed, Mintel research shows the salty snack market continues to grow as consumers increasingly reach for a range of options. Over a quarter of consumers (27%) report increased consumption of salty snacks compared to last year, led by millennials (47%), parents (46%), and those who are employed and work from home at least some of the time (42%). Consumers say they have increased consumption in the last year across all salty snack segments, with top growth seen across the popular cheese-flavored snacks (+6%), microwavable popcorn (+7%), and corn snacks (+8%) sectors, as well as the less mainstream snacks segment, including chips/puffs made from vegetables, beans, or ancient grains (+7%), suggesting that consumers are reaching for a mix of familiar and exciting.