As we’ve written about many times in the past, the snack industry is projected by GlobalData to have a CAGR (compound annual growth rate) of 4.6 percent in the next two years. Snack companies are now working hard to find the edge that will help them stand out from their competition and thus are paying careful attention to growing trends. Of course, there is the ongoing demand for healthier snack options by consumers young and old. However, the way snacks are presented may have more to do with consumer choice than previously thought.
We’re often told not to judge a book by its cover but, before purchasing, snack consumers have little to go off of besides the packaging. Snack companies take on the challenge of expressing themselves as completely as possible through their wrappers. Not only that, companies must incorporate the values of the people to whom they are trying to sell in their packaging.
In order to complete this task, manufacturers are making the covers of their snacks distinct from all other packagings. Instead of the traditional bright, glossy wrappers, companies are opting for matte packaging that feels good to the touch. This creates appeal because it communicates a higher quality product and possibly induces a feeling of nostalgia in the potential buyer.
Secondly, companies are compartmentalizing their products. We’ve all come across yogurt cups that store granola in a compartment above the yogurt. The same concept is being done today in order to ensure the maximum freshness of the product. Compartmentalization also promotes transparency as customers are able to see exactly what goes into what they are consuming.
The ongoing healthy snack trend is inspiring companies to think about portion control when it comes to their snacks. It is no longer acceptable to simply put the nutritional content on the back of their products. Packaging snacks as single serve products allows consumers not to worry about eating more than they are supposed to and makes the product easy to eat on the go.
On top of all of this, companies have the added challenge of making sure that their packaging is sustainable. Eco-friendly packaging is high in the modern snack consumers’ demands.
The preservation of food and reduction of waste are two big focus points for today’s candy manufacturers. Consumers want healthy snacks that are transparent about their ingredients and it is up to companies to fulfill these demands, if they want to take advantage of the growing market.
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