Insights from SNAXPO 2023 keynote

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Insights from SNAXPO 2023 keynote

21 Mar 2023

Annie Hollon

Annie Hollon is a journalist, copywriter and social media strategist from the Dallas, Texas area. She found a love for magazine writing during her time at the University of Alabama where she graduated with a Bachelor of Arts, double majoring in public relations and English. Beyond writing, you can find her expanding her library, attempting to teach herself the guitar and trying new hobbies.

ORLANDO — SNAC International kicked of its first full day of programming for SNAXPO, held March 19-21 in Orlando, with “Trends for the Now, Next and Future of Snacking,” a keynote session presented by Jenny Zegler, director of Mintel Food & Drink and Global Consumer.

The Now portion covers the upcoming 12 months. Zegler called out the Unguilty Pleasures trend, which is all about indulgence and treating yourself. Due to recent stress and anxiety driven by factors such as the COVID-19 pandemic and inflation, it has the potential to stick around long term.

“It’s really no surprise to me that 47 percent of US adults have experienced stress, 39 percent have experiences anxiety and 23 percent have experienced burnout in the last year,” Zegler said.

She noted that these factors lay the foundation for consumers to reach for comfort food over healthier alternatives due to a preference for snacks that spark joy.

“There’s an opportunity to provide some of these beloved favorite foods, and especially right now, we see consumers seeing that some products are a little bit too risky unless there’s elements of the familiar,” she continued. “Some of these beloved brands can launch new textures, familiar yet exciting flavors, as well as limited-edition products.

Playing with different aspects of a snack such as its texture or flavor profile can “amp up the joy” of a snacking occasion. This trend, Zegler shared, is about giving consumers the opportunity to indulge, most of which relies on taste.

Savvy Sustenance, the second trend Mintel forecasted, is projected to impact the industry in the next two to five years. With consumers curbing their spending in the face of higher living costs, they’ll begin placing an added emphasis on product value.

“We see that there’s more opportunity down the line to explain to consumers that a product is worth more money because it’s nutritious and because it’s filling,” Zegler said.

Though indulgence is a more immediate trend driving consumer habits, looming financial woes will impact the projection Mintel has made for the next 2-5 years. With hopes that the economy betters by this point, Zegler noticed that continuously-cautious consumers will be more decisive with where they spend for added value.

“We know value is multifaceted,” she said. “It is something that consumers see a lot of different definitions with, and with Savvy Sustenance, it’s really connecting with the idea that you can get more value, more bang for your buck if you have affordable food that is also nutritious and filling.”

This, Zegler said, merges into the better-for-you snacking categories, emphasizing that he benefits of said products need to be clearly communicated consumers in terms that they understands. Recognizable call-outs include protein, fiber, vitamins and minerals.

“That’s what Savvy Sustenance is about,” Zegler said. “It’s making it clear to consumers that this product is worth their money, maybe even worth a little bit more than they normally would spend on a snack.”

The Future trend is what Zegler calls Staying Sharp, which is an evolution on energy claims. Consumers are seeking a solution to increase focus and productivity and reduce day-to-day distractions, which provides a unique opportunity for snacking.

“Staying Sharp is one of our 2023 global food and drink trends, and it’s looking at consumers wanting more functional claims that help them feel like they’re optimizing their mental performance at work, at home and at play,” she said.

How consumers manage stress, anxiety and burnout can impact productivity, with Mintel data revealing that 30% of US consumers agree that they are not as productive as they were a year ago due to mental health strain.

“It is something that we may feel come and go over time as we deal with different stress levels, and so that’s why we think that focus and productivity claims will be the next functional claims down the line that consumers are looking for,” Zegler said.

She shared that to her, snack have the opportunity to cater to this need as they could not only taste good but also provide functional ingredients to support brain function or manage stress. Zegler also shared that though there is not a lot known about what ingredients can provide what benefits, there remains room for innovation over time to identify snack formulations that cater to certain needs and a “burgeoning interest” from consumers.

“Twenty one percent of US consumers would be encouraged to try a new snack, nutrition or performance bar if it had focused support claims,” Zegler said. “A lot of opportunities here to expand this over time, and that is going to include explaining to consumers what these ingredients are, and we are already seeing examples of these products coming out.”

From the next year to 10 years out, snack manufacturers have a lot of unique opportunities to innovate and connect with consumers thanks to the trends outlined by Zegler and Mintel’s data.

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