Get Your Share of the Growing Snacking Market

For decades, concessions has remained an attractive and profitable business opportunity. And if the latest trends are any indicator, the best days are ahead of us. First, a quick look at the stats. As a category, snacking sales are outpacing that of overall food and beverage retail. Those numbers are supported by consumer behaviors with 41%...

GrowingSnackMarkets_010716For decades, concessions has remained an attractive and profitable business opportunity. And if the latest trends are any indicator, the best days are ahead of us.

First, a quick look at the stats. As a category, snacking sales are outpacing that of overall food and beverage retail. Those numbers are supported by consumer behaviors with 41% reporting they ate three or more snacks per day in 2014. In fact, research has shown that snacking is often replacing meals.

“The future looks very bright for snacking, with category sales estimated to hit at least, if not more than $200 billion by 2020,” states Sally Lyons Wyatt, executive VP at IRI, a market research and analytics firm.

But to reach our full potential, we’ve got work to do. Snacking is highly competitive and it takes an attentive and practical strategy to get results. Here are some key insights into today’s marketplace:

  • Invest in Indulgence – Consumers who said they were treating themselves to indulgent snacks grew by 8 points from 2011 to 2014. Enhance your menu with treats that hit their sweet spot.
  • Champion Chocolate – Chocolate continues to be a customer favorite. According to a report from Packaged Facts, 81% report eating chocolate and predictions are the market will grow in 2016.
  • Combine Taste & Convenience – These two factors are named as the most important influencers when it comes to food decisions. This makes ready-to-eat foods highly desirable.
  • Social Influence – Don’t underestimate the value of social media. Sharing food creations is a trend that is only going to grow. Give your foods a look and taste that attract attention.
  • Tailored Flavors – Customers want customization. When you produce original signature flavors, you’re setting yourself apart and creating an experience they can’t get just anywhere.

Find your niche with products like gourmet flavored popcorn, premium-quality fudge, a wide selection of cotton candy flavors or any assortment of concession food favorites. What’s the right combination for you? Reach out to our concession specialists, available via phone at 800-543-0862 or email info@gmpopcorn.com.

Source: blog.gmpopcorn.com