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P.L. Thomas (PLT)
The market researchers pitch the combined value of snacking in Europe and the US to hit US$150 billion by 2009.
Growing numbers of consumers are snacking, both at new times and in new locations, such as snacking when working late, on-the-go energy or performance boosts or light, informal snack meals.
"This behavior continues to offer new and surprising opportunities for impulse products as consumers re-evaluate their product choices in the light of new needs," says the report.
Non-alcoholic drinks markets are also benefiting from more impulse purchases, together with the "increasing emotive importance" consumers place on consumption.
A typical European spent US$25 per month on soft and hot drinks in 2004, compared to US$30 for a typical American consumer.
According to the report, consumers are demanding that snacking and beverage products become more 'charged', indulgent, fun, entertaining, sensual, adventurous and exotic.
These factors are giving rise to the trend of "experiential products".
Opportunities, according to the report, will lie with consumers "searching for more authentic products in relation to flavor profiles and production methods."
