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SNACKING: A TOP TREND IN THE AMERICAS

FEBRUARY 2016
OVERVIEW 2

Americas: a tale of two distinct regions The Americas


• 1/3 of global US$ Packaged
Packaged Foods Growth Foods sale.
10%
• US sales are 4 times Brazil’s,
Current value growth, fixed 2015 exchange rates

9% 7 times Mexico’s.

8%

7%
North America
6%
• Retail volume sales are down
5% since 2010.

4% • Value-added products and


snacking buoy the industry.
3%

2%

1% Latin America

0% • Continued impressive, but


2010 2011 2012 2013 2014 2015 decelerating value growth.
Latin America * North America World • Retail expansion and lifestyle
changes drive growth.
* Excluding Argentina and Venezuela due to distortionary foreign exchange effects.

© Euromonitor International
OVERVIEW 3

The Snacks Universe

Snacking occasions have increased as have the types of products


that are being consumed as snacks. It is important to consider the full
Snack Universe when looking to reach today’s consumer.

Biscuits & Snack Bars

Cakes

Confectionery
Packaged
Food Snacks Ice Cream
Universe
Pastries

Sweet & Savoury Snacks

Yogurt

© Euromonitor International
OVERVIEW 4

A Diverse Region of Snacking

Snacks Universe 2015


12%

10% Brazil Strong historic growth will


confront difficult economic
Costa Rica circumstances ahead.
2010-2015 CAGR

8%

Colombia Chile
6%
Developed, but still growing
Peru by successfully meeting the
4% Mexico latest consumer needs.

Opportunities as consumers US
2% shift away from artisanal / Canada
unpackaged snacks.

0%
$0 $100 $200 $300 $400 $500
US$ per capita
CAGR : compound annual growth rate

In this graphic we consider the trajectory of select countries’ US$ snacking per
capita consumption over the previous five years to arrive at their 2015 level.
© Euromonitor International
OVERVIEW 5

The Snackification of Packaged Foods

Snacks Penetration

Middle East and


Africa

The World Eastern Europe


Snacks % has
remained flat
at 32%… …while Western Europe
Snacks in Latin
America and Latin America
North America
advance faster
World
In the US 10% than other
of Packaged regions.
Food sales go Asia Pacific
to Sweet &
Savoury Australasia
Snacks only
North America

25% 30% 35% 40%


% Snacks in Packaged Foods

2005 2015

© Euromonitor International
OVERVIEW 6

Fastest Growth Snacks Categories in 2015

Increasingly consumers
are looking to a variety
of packaged food
products to satisfy their
snacking needs. As
seen here in the
diversity of the fastest
growth categories,
success is not one-
size-fits-all. Consumer
demand is driving
categories that best
2015 Fastest Growth Category
adapt to their daily
routine and meet their Cakes

evolving tastes. Sweet & Savoury Snacks


Yogurt

© Euromonitor International
SNACKING DRIVERS 7

Convenience Plays a Vital Role in Snackification

Packaging
Innovation
(Re-closable, Portable)

Busier Lifestyles Expanded


Distribution
(Especially in Capital Cities)
(Easier Access)

Elements of
Convenience

© Euromonitor International
SNACKING DRIVERS 8

Convenience Drivers in the Americas

Costa
Country Argentina
Rica

Distribution: Packaging: Distribution: Packaging:


Retailer Focus on more
Driver Expanded
infrastructure for
Focus on more
portable product engagement in portable product
frozen snacks packaging snack trends packaging

Convenience Bioland and


Freezers for stores and NutriSnacks
products like Arcor Cereal Mix supermarkets snack bars;
Example Chocotorta bars, Yogurisimo giving snack multipack ice
ready-to-go Cremix Dessert
foods prime shelf cream from Dos
dessert by Arcor
space Pinos

© Euromonitor International
SNACKING DRIVERS 9

Convenience Drivers in the Americas

Country Mexico USA

Busier Distribution:
Distribution: Packaging:
Lifestyles: Consumers
Focus on more
Driver Rapid growth in
convenience-
Socioeconomic portable product favour
trends promote convenience-
focused retailers packaging
snacking based channels

Urbanisation and Belvita Biscuits, Snack sales at


Rapid growth in more working Kit Kat Minis, forecourt retailers
convenience women make Nutella & Go, grow with lower
Example stores like Oxxo; yoghurt, biscuits KIND Snack gasoline prices,
driving snack and snack bars Bars, Chobani consumers spend
food availably popular breakfast Yoghurt; Meat savings inside the
alternatives Snacks store on snacks

© Euromonitor International
SNACKING DRIVERS 10

Health & Wellness also Drives Snack Innovation

Regulation:
Taxes or other
Indulgence: regulations
against junk food
Consumers still
want to treat
themselves

Obesity
crisis:
Consumers
looking to eat a
healthier diet

Demand for Health &


Wellness Snacks

© Euromonitor International
SNACKING DRIVERS 11

Regulation Drives Better Snacking

In Mexico, an 8% special tax on In Chile, new regulation will tag Bolivia, Costa Rica, Peru and
high-caloric food took effect in all products that exceed a Uruguay introduce bans on the
January 2014, impacting many certain threshold of sugar, sale of foods high in salt, sugar
snack food categories. saturated fat, or sodium with a or fat content at schools.
In response, manufacturers in notorious “high in” label.
In some cases, these regulations
categories like confectionery Companies are working to have helped other categories. In
introduced smaller portion sizes change their product Peru, snack bars has grown,
to reduce the selling price of the formulations or stand to witness including brands like Angel
product and maintain sales. declines in sales. Break, which are marketed for
children.

Regulation drives consumer snack habits

© Euromonitor International
SNACKING DRIVERS 12

Demand Drives Growth from Healthier Snacks

Yoghurt: A high-protein, low-fat snack


• Trending In: Bolivia, Canada, Chile, Costa Rica, Dominican Republic
Ecuador, Mexico, USA
• Examples: Yaqú (Ecuador), Pil Andina (Bolivia), Yoka Yoghurt Slender
(Dominican Republic), Digess de Migurt (Venezuela)

Snack Bars: Natural Ingredients, minimal processing


• Trending In: Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica,
Ecuador, Mexico, Peru, US
• Examples: Trio Nuts (Brazil), Angel Break (Peru), Simsa (Bolivia), KIND
(USA), Arcor Cereal Mix (Argentina)

Premium Offerings: Higher-Quality Indulgences


• Trending In: Bolivia, Canada, Chile, Colombia, Mexico, USA
• El Ceibo confectionery (Bolivia), Santander confectionery (Colombia),
Talenti ice cream (USA)

© Euromonitor International
SNACKING DRIVERS 13

Winners & Losers

Premium, Less-Processed,
Better-for-You Snacks Consumers increasingly want snack foods that they
can eat in place of traditional meals. This benefits
higher-protein snacks which aid in satiety, as well as

WINNERS
better-for-you offerings that cut the amount of salt, fat
or sugar in a consumer’s diet. At the same time,
shoppers are increasingly turning away from artificial
ingredients in favour of more natural snacks.

Highly-Processed, Less
Healthy Snacks Snack foods that are high in sugar, fat or calories
face challenges from both government regulation and
LOSERS

consumer preferences. In several countries, state


action like taxes or even outright bans of “junk foods”
– often employed in the fight against obesity – have
become increasingly common. At the same time,
consumers want “healthy indulgence” offerings that
they can enjoy with less guilt.

© Euromonitor International
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THANK YOU FOR LISTENING


Jared Koerten
Senior Food Analyst
Jared.Koerten@Euromonitor.com

Sean Kreidler
Research Manager
Sean.Kreidler@Euromonitor.com

Request a demo for more information about our market Research solutions.

© Euromonitor International