NPD in action: Plant-Based Snacking
Jun 2021Consumers 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).
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.
Taste & Texture
Jul 2024Today's consumers are increasingly demanding, continuously seeking more exciting and enhanced taste experiences. In response, brands are exploring the synergy between flavor and texture to elevate the sensory experience. For example, vanilla flavors are making a comeback by enhancing smoothness, while unique textures are being introduced to add elements of surprise and novelty in unexpected ways.
Free-from food
Jun 2024Innova Market Insights data indicates that between April 2019 and March 2024, there was an average annual growth rate of 5% in food launches with “free from” claims globally. The top three categories of launches with free-from claims are Bakery (16%), Sauces & seasonings (10%), and Snacks (10%). Gluten-free was the claim with the most shares during the April 2023 – March 2024 period.
Plant-based flavors
Jun 2024Innova Market Insights data indicates that there is a steep growth in plant-based Meat & Dairy Alternatives launches with a 10% average annual growth from April 2019 to March 2024. The top flavors for these launches are vanilla, milk chocolate and strawberry and smoked flavor. The fastest growing flavors for these plant-based launches are caramel, stracciatella and macadamia nut.
Emerging "hero" ingredients
May 2024According to Innova Market Insights, 1 in 3 of consumers globally say that they look at ingredients of interest on the product pack. Especially protein emerges as a “hero” ingredient that is important to 42% of consumers globally. Consumers also rank vitamins, fiber, omega-3 and minerals as star ingredients for their chosen food & beverage products.
Taste-driven innovation
May 2024According to Innova Market Insights’ “Top Trends in Flavors for 2024”, “Floral fascination” leads the list, implying the shift toward wellness and sustainability and the demand for healthier products. Other flavor trends expected to influence consumers’ taste are “Indulge in Imagination,” “Vintage Vibes and Modern Bites,” Local Delights” and “Savor the Contrast.”
Snacking in the Spotlight
Apr 2024Innova Market Insights data indicates that there is a 2% growth in snack launches globally from 2019 to 2023. Snack Nuts & Seeds (21%) was the leading subcategory of snacks, but Finger Foods/Hors D’oeuvres was growing fastest with 8% growth from 2019 to 2023. Additionally, there was a notable surge in launches for plant-based snacks, which saw a 24% growth from 2019 to 2023.