Nielsen has followed up its recent Global Snacking Report with an infographic to sum up the latest global trends in snacking. It shows that the global snacking market is worth more than $374 billion annually.
In Europe, confectionery represents the biggest contributor to the overall snack category, with sales of $46.5 billion.
Demand for snack products is mainly driven by taste and the healthiness of their content, with 45% of global respondents considering natural ingredients a very important factor in their purchasing choice. And while 76% of global respondents consume snacks to satisfy their hunger, 63% purchase them for nutrition.
“Organic and healthy snacks offer an opportunity to reach different audiences and health is a particularly important factor for older consumers.” Explains Nielsen Store Leader, Carlina Johnson. However, whilst older demographics show an increased demand for healthier snack products, Nielsen data also reveals that their taste preferences are changing, so it is important to define customer targets.
For example, the demand for crispy and crunchy products declines as consumers age. Globally, those aged 65-and-over value texture less than the young, with 66% placing importance on a snack’s crispiness and just 56% on its crunchiness. Conversely, over three quarters of respondents under 20 stated that crispiness and crunchiness were important qualities when purchasing snacks.
"The infographic reveals how the snack market is growing at a global level with opportunities around nutrition and indulgence.” Johnson added.