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NPD in action: Plant-Based Snacking

Jun 2021

Consumers are increasingly looking for healthier and more ethical options with regard to their snacking habits. Industry is delivering plant-based alternatives of existing snacks to satisfy consumer demand for guilt-free indulgence. New product launches from the snacks category featuring a plant-based claim are soaring with an annual average growth of +65% (Global, CAGR 2018-2020).

Ashapops
Plant Menu
Zenb
Ape
I Am Grounded
Parmcrisps
DJ&A
Initempe
Pfi
The Honest Bean

10/10

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The Honest Bean Co Barbecue Roasted Fava Bean Snack (United Kingdom). Barbecue roasted fava bean snack comes in a 40g plastic packet. Grounded in goodness. High in fiber and protein. Plant powered.

Food and beverage launches with free-from claims are growing with an +5% annual compound growth from the year 2018 to 2022. Almost half of the launches (46%) in the year 2022 featured gluten-free claims, but palm oil-free claims show the fastest annual growth +19% from the year 2018 to 2022.  
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Confectionery category launches are experiencing +2% compound annual growth from the year 2018 to 2022. The most launched confectionery subcategory in 2022 was chocolate blocks. The plant-based claim is the fastest-growing positioning for confectionery with an annual growth of +75% (2018-2022, CAGR). The prebiotic claim is also on a fast growth path. Strawberry & hazelnut top the confectionery launches in 2022, while blood orange is one of the fastest growing emerging flavors for sweets. 
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According to Innova Market Insights’ Top Trends 2023 on beverages, “Redefining Value” leads the list, focusing on how consumers are willing to pay more for what they value most, despite rising inflation. Consumers would still compromise for brands that respond to their core values, which can be functional ingredients, sustainability, ethical causes, etc. Other key trends expected to influence the beverage industry are “Generational Push”, “Revenge Spending”, and “Unpuzzle Health”.
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Innova Market Insights spots that new farming systems are improving quality and sustainability, leading to renewed consumer interest in food sources. New product launches show brands are emphasizing the use of upcycled, organic and sustainably farmed ingredients on product labels.
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Food and beverage product launches with clean labels are gaining ground and have an annual global growth of +2% (CAGR, 2018-2022). The leading subcategory with the most launches with clean label claims is soups and sauces, but meat substitutes is the fastest growing subcategory. No Additives/Preservatives is the leading top claim for products with clean labels.
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Taste and flavor are some of the most influencing reasons for consumers to choose a particular product. New product launches show brands emphasizing different taste combinations to create both a balanced taste but also give indulgence in novel flavors.
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