Rockville, MD — The U.S. salty snack sector had an annual growth rate of nearly 4 percent between 2012 and 2017, according to Packaged Facts, which projects the market to reach $29 billion in 2022. The research company notes shifting consumer lifestyles and growing demand for convenient food options have been catalysts for these gains.
“In recent years, more consumers have moved away from traditional three meals per day and shifted into a lifestyle involving increased snacking, or multiple smaller meals, throughout the day,” says David Sprinkle, research director at Packaged Facts.
Ubiquitous consumption and ready availability of chips, popcorn and pretzels are bringing stability to the market’s growth, according to the research company. Yet, the sector is facing competition for snacking dollars from confectionery as well as nuts, seeds, and dried and fresh produce.
Packaged Facts adds new flavor combinations, emerging technology that can make unique shapes and textures, and increasing use of alternative (non-potato) ingredients such as grains and vegetables as trends to watch in the sector.