As the foodservice trend of snacks as meal replacements whets consumers’ appetites for grab-and-go options that complement their busy lifestyles, dayparts are becoming increasingly snackified.
Millennials are social beasts with a ravenous appetite for interaction – online, on their phones and in-person. That can be a heady recipe for success for foodservice and restaurant operations, provided they tap into the power of social media to leverage millennial snack trends and their taste for social sharing.
The better-for-you snack segment is a booster shot for business, surpassing the sales growth of the entire food and beverage market, according to a report from Packaged Facts, a market intelligence firm.1 A convergence of factors, including portability, higher nutritional value and clean labeling, has spurred sales over the past decade for wellness-oriented snacks, resulting in a compound growth rate (CAGR) of 4.7%,and surpassing overall food and beverage growth.1
A perennial favorite, ice cream has a long history as the cold snack that consumers stay hot for. It's no wonder that when New York’s Museum of Ice Cream debuted last year, fans of the creamy favorite scooped up all 30,000 tickets in five days.1 The joy of ice cream continues to captivate imaginations and tantalize taste buds.
No flash in the pan, the better-for-you movement has boiled over into the mainstream, turning up the heat on foodservice operators to blaze a clean label trail of menu innovation. But while the millennial snack market may demand more natural and nutritious options, many consumers still hanker for traditional favorites with rich and satisfying flavor profiles.
Millennial foodies are serving big changes to the foodservice industry. With 50% of U.S. millennials—one-eighth of the entire U.S. population—claiming to be foodies, foodservice entrepreneurs and restaurant operators are feeling the heat throughout the supply chain to cater to this coveted demographic, as millennial foodies drive menu innovation and transform the food economy.1
When it comes to snack sales, the Internet and consumers are starting to click. According to NPD Group, a leading market research firm, snack manufacturers are biting off bigger chunks of market share by tapping the consumer’s appetite for online shopping.
2016 was a whirlwind of on-the-go snacking, clean label watching, better-for-you branding and millennial menu-innovation mania. No surprise, then, that those in the know forecast flux for the new year.