Mintel Reports Salty Snack Sales are Up
Sodium may be the next trans fat, but that's not stopping Americans from indulging in their salty snacks, or so says Mintel's latest research.
A new report from market research firm Mintel shows that after years of mediocre sales increases, the potato chip market grew 22% during the economic downturn*.
In addition, other salty snacks experienced recession-fueled sales jumps. The tortilla chip market increased by 18% since 2007, while smaller segments like popcorn and cheese snacks saw similar gains (17% and 20%, respectively). Now that economic recovery is starting to take hold, however, Mintel expects sales increases to taper. Over the next five years, potato chip sales are expected to rise just above 3% annually, while tortilla chip sales should increase just above 4%.
Mintel's Global New Products Database (GNPD) has already tracked over 350 new salty snack launches in the US this year.
A daily dose of chips?
It's not the most healthy habit, but according to Mintel, 50% of kids, teens and 18-24s say they eat salty snacks five times a week or more. Even adults say they eat salty snacks 4.8 times per week on average, nearly once a day!
Mintel's survey shows that two in three (65%) adults say that they're interested in healthier snacks, such as grain or baked varieties, while another 57% say they're interested in healthier alternatives to salty snacks, like pita chips or crackers. Admittedly however, half of survey respondents confess they think lower fat/sodium snacks don't taste as good as the originals.
*Sales increases compare 2007 market data against Mintel's market estimate for full-year 2009