Navi Mumbai, Maharashtra -- (SBWIRE) -- 03/20/2012 -- Snack Foods Market Report Plus 2012

This Market Report Plus analyses the savoury snack foods industry in the UK. Products that fall within this category are potato crisps, other savoury snacks and snack nuts. The report excludes confectionery and sweet snacks. For more information on these markets, please refer to Key Note’s Confectionery Market Report Plus and the Sweet & Salty Snacks Market Assessment.

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The savoury snack foods market is doing well: in spite of the crunch, consumers still munch. The market value has risen by 26% between 2007 and 2011. This is because manufacturers are delivering healthy alternatives to consumers as they become more health conscious. In addition, manufacturers keep consumers on their toes by introducing diverse and uncommon flavours. Finally, the affordability of the products makes snacks popular during economic downturns.

Snacks are no longer regarded as just being a treat or used to fill the gap between meals. They also accompany, even replace, meals, and are nibbled on during home activities, whether it be watching television or entertaining. In response, manufacturers have produced an array of packaging sizes to accommodate the various occasions when snacks are consumed. 2011 has seen a surge in both sharing- and multi-packs, in addition to growth in premium snacks due to the emerging trend.

Walkers continues to dominate the market, but smaller companies (such as Seabrook, Tyrrells and Burts Chips) are faring well against their larger counterparts, because they are able to guarantee locally produced, hand-fried and English snacks, as desired by consumers. Many manufacturers have been maximising sales through innovative competitions, whereby consumers are invited to name, vote or design their own packages and flavours. This strategy has been very successful and the tactic is likely to continue, particularly as manufacturers tap into the 2012 Olympic hoopla.

Potato crisps are still the most popular product in the snack foods market and accounted for a 48.3% share in 2011. However, the popularity of both other savoury snacks and nuts is on the rise, as these products often provide a healthier option. Popcorn and pretzels are the two snacks that will be most popular in this category in the future. Nuts are increasingly in demand; however, because these are significantly more expensive than most other savoury snacks, unless manufacturers decrease their shelf price, their growth is likely to be stunted.

The snack foods industry is a vibrant sector and the economic crisis has thus far had a positive effect on the market. Although prices in the industry are on the rise, due mostly to high commodity costs, consumers have yet to be deterred. The future for the industry looks promising and bright; Key Note predicts that the market value will hit £3bn by 2013 and positive growth is expected to continue thereafter to 2016. 

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