Industry Insights: Snacks Demand Spaces and Top Trends

Industry Insights: Snacks Demand Spaces and Top Trends

Summary

This report is part of a series on key trends that are currently affecting the food landscape. This report explains how specific strategies prove to be an advantage for snack leaders in the industry to stand out.

The concept of demand spaces has been increasing among brands across the FMCG spectrum. Demand spaces are an iteration of the longstanding analytical mode based around the five Ws: the who, what, when, where, and whys of consumer attitudes and behaviors. Demand spaces are manifestations of different combinations of these factors that describe consumption occasions with particular audiences, product choices, purposes, locations, and so on.

Scope

• Consumers are increasingly recognizing the impact of their snack choices on their overall health and wellbeing, which has led to a greater demand for nutritious alternatives. For snack brands to maintain consumer loyalty, they need to use local suppliers to minimize costs and maintain product quality. Brands should
focus on the sensory experience of eating, such as taste and texture, to help divert attention from stress and promote a brief mental break.
• Snack brands should invest in initiatives such as environmental protection, waste reduction, recyclability and animal-friendly supply chains to win over younger concerned consumers.
• As the customer journey becomes more reliant on online sources, snack brands must adapt and provide smart, connected solutions that align with the lifestyles of
digitally-savvy consumers.

Reasons to Buy

• Consider emerging opportunities and threats in the snack market and gain insight into potential future consumer behavior.
• Identify interesting new and emerging concepts, products, and ideas on offer in retail, foodservice, online spaces, and beyond.
• Understand how new concepts and ideas fit into – or challenge – current consumer trends.
• Gain insight and inspiration for innovation programs and new product development.