Despite Economy, Consumer Snacking Seeing Increase

Despite the dampening effects of global recession, consumers are snacking more than ever, according to research by Packaged Facts. The report attributes this to pull-backs in restaurant dining, harried lifestyles that reduce opportunities for sit-down meals, and a growing consensus that several small meals or snacks during the day are actually healthier than the three-squares paradigm.

In its report, “Sweet and Salty/Savory Snacks in the U.S.: Lifestyle Marketing and New Product Development in the New Economy” (3rd Edition), Package Facts estimates U.S. retail sales of packaged snacks at $68 billion in 2008, and projects sales to near $82 billion by 2013, a total market increase of 20%. In addition, the report notes, as the sluggish economy fans job-loss fears, health insurance woes, and environmental and social justice anxieties, snack consumers are embracing a “value” mentality that prizes quality and “whole” ingredients, “better for you” recipes, and green production practices.

While low prices are always a draw, consumers are looking for snacks with fewer additives or preservatives, and even spending extra dollars for organic and premium snack treats that can boost their flagging spirits over the long climb back to prosperity.

A full summary of the report and related reports are available at Packaged Facts.