Change and challenge describe the state of affairs in the 2014 confectionery market. It was a year when candy makers placed big bets on new products to drive growth.
When eating at foodservice venues, Baby Boomers prefer to stick with a limited selection of favorite snacks geared for different times of the day, while Millennials seek a variety of snacks not tied to day parts, according to a new study by Culinary Visions® Panel.
Absence of ingredients in snacks more important than the addition of them
October 3, 2014
While Europe ($167 billion) and North America ($124 billion) make up the majority of worldwide snack sales, annual snack sales are growing faster in the largely developing regions. Asia-Pacific ($46 billion) and Latin America ($30 billion) increased 4% and 9%, respectively, while sales in the Middle East/Africa ($7 billion) grew 5%.
Snacking, especially beverage consumption outside of a regular meal, continues to increase among Americans, accounting for more than 25% of calorie intake each day, according to research presented at the 2011 Institute of Food Technologists (IFT) Annual Meeting & Food Expo.