Top snack and bakery dayparts offer strategic opportunities for R&D inspiration
May 21, 2019
The current state of snacks and bakery in foodservice reflects the "have your cake and eat it, too" polarity of today's consumers. We dine out to treat ourselves, yet we still have a nagging sense of responsibility to improved health and wellness.
While the crackers market remains relatively flat, up a mere 0.29 percent for the year, it's a strong area of baked snacks, accounting for $7.4 billion in sales, per IRI, Chicago for the 52 weeks ending March 24, 2019.
Millennials, over 80 million strong, are the largest generation of young people in history. Like every generation that came before, millennials come with their own set of characteristics that make them unique.
Bakery snacks saw a relatively flat year per IRI, Chicago, with 0.16 percent growth to $3.4 billion. Grupo Bimbo far outperformed the category average, though, with growth of 14.48 percent to $249.4 million.
Chocolate is one of the most popular and widely consumed products. Everyone likes chocolate. On average people consume 12.57 pounds of chocolate per year. And snacks and baked goods provide many opportunities for people to enjoy chocolate.
According to IBISWorld, tortilla production in the U.S. has grown 3 percent in the past five years thanks to the fact that tortillas, especially ones boosted with ingredients like spinach and whole wheat, are perceived to be healthier than bread during a time when consumers value nutrition.
Over the past century, John B. Sanfilippo & Son, the 2019 'Snack Producer of the Year,' has grown into one of the world's top nut companies, and a strong culture of growth and innovation continues today.
Buckle up. The top trend driving innovation in the snack and bakery industries has no formal definition, isn't regulated, and is shifting all of the time. Yes, clean label demands are touching every facet of the food industry, from formulation to packaging and marketing, and everything in between.
ON DEMAND:Texture is what takes a snack from “one of many” to “one of a kind.” In this webinar, you’ll learn how specialty starch-based texturizers can make a sheeted or baked snack’s texture loud and crunchy or light and crispy — and how achieving that just-right texture can help your healthier snack stand out in a competitive marketplace.