Once associated with candy bars, pretzels, popcorn and chips, snacking has evolved into one of the fastest-growing segments in the food space, with sales of $89 billion annually. The definition of a snack has also changed, with yogurt, nuts and energy bars among today's trending options.
As consumers struggle to find time to eat a meal while looking for more value adds, snacking as we know it shows no sign of slowing. It's no wonder companies such as Conagra, Campbell Soup and Hershey made recent acquisitions to increase their stake in the space. Food manufacturers are expected to continue repackaging classic products to make them more snack friendly, while turning to M&A to give them an instant presence in the space.
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Food companies hungry for snacks turn to M&A to fill up
In an industry beset by slow growth, Conagra, Hershey, Campbell Soup and other large CPG firms are focusing more of their attention on the burgeoning space with $89 billion in annual sales. Read More »
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Snacking's appetite grows to take a bigger bite of US food consumption
The category has expanded beyond salty and sugary items that once defined the space to include more options that meet consumer needs like convenience and better-for-you products. Read More »
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Study: Millennials drive the better-for-you snacking trend
These younger, health-conscious consumers demand tasty, nutrient-rich snacks and half have driven at least five miles to buy a snack they were craving. Read More »
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Consumers eat more when food is a 'snack,' but will brands change their marketing?
A University of Surrey study found using the term leads to increased consumption and overeating, suggesting that companies rethink product labeling for health. Read More »
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Snack makers look to ethnic cuisines for the hottest new flavors
New flavors and spices are getting more popular as millennials try more adventurous food and consumers look to eat healthier — without forgoing taste. Read More »
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4 ways to eat bugs and have a (not so) scary snack
Eating insects isn't just for horror movies anymore, and several manufacturers are working to make them accessible — and delicious — for the masses. Read More »