Soggy sales are putting a damper on the cereal market, sinking business for some major brands. The popularity of this once-perennial staple has been declining for years as consumer preferences have shifted to better-for-you and grab-and-go breakfast options.
“It seems that health-and-wellness snacking used to be more on the fringe but has really made its way into more mainstream and is now part of everyday lives.”
The future of snacking is shaping up to be a feeding frenzy for foodservice operators. The boundary between meals and snacks continues to blur, with snacks replacing meals 37% of the time and robust sales of snack brands helping the CPG industry register its greatest growth in four years.1