Kerry created an online microapp to provide information about research results and identify trends in private label snacks. The microapp, called Seizing the Private Label Snack Category, is based on Kerry’s 2021 research.
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The overall snack market is worth $115 billion and has a 2% annual projected growth to 2023, according to Kerry. Snacks are an emerging private label business opportunity, with private label snacking currently possessing 7% of the overall market, according to Nielsen data.
Kerry claimed that private label consumers can be structured into two key groups: adventure seekers and practical traditionalists. Due to the shift in consumer retail behavior during the COVID-19 pandemic, consumers are now more open to purchasing private label products from retailers. However, store and national brand names remain the most prominent.
Kerry’s proprietary research was conducted on 1,460 U.S. food and beverage private label consumers, then prioritized by product category and retailer attributes. The overall research was presented in a webinar called "The Future of Private Label."
Commenting on the snack research—titled Seizing the Private Label Snack Category—Jocelyn Carter, activation marketing director, Kerry said, “Our Kerry online private label snacks microapp report dives into private label snacks trends, telling retailers what types of product attributes are important to each type of consumer in snacks. Snacks are highly profitable areas of any business and today is no better time to develop a private label brand or expand.”
Carter continued, “Kerry’s private label snack research microapp allows users to explore product packaging examples and reveals what claims and ingredients resonate with the various consumer types. At the same time, the results highlight how Kerry can collaborate in bringing these types of products to life using our taste, flavor and nutrition solutions backed by the wide-ranging skills of our experienced applications teams. The disruptive nature of today’s snack market means that new private label products have a significant opportunity to gain market share by innovating in these categories in order to attract consumers who, in rising fashion, want snacks that offer new taste experiences and functional benefits.”
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