During its recent earnings call, Kraft Heinz CEO Bernardo Vieira Hees announced that the company is currently in a phase of “renovation” and innovation. He shared that their percentage of innovation has more than doubled over the past three years and they are continuing to accelerate significantly. The nut snack prototypes showcased at Snaxpo reflect this rapid innovation, expanding Kraft Heinz beyond its traditional Planters brand. This strategic move allows the company to tap into emerging trends while steering clear of increasingly saturated markets. For instance, the introduction of energy bites made with a specific formulation of calcium citrate highlights a distinct approach compared to conventional energy bars, a segment that has become quite competitive in recent years.
Additionally, the gochujang spiced nuts cater to the rising demand for bolder and more global flavors, particularly among millennials who are increasingly seeking more flavorful snack options, suggesting that this trend has staying power. Furthermore, younger consumers are also inclined towards healthier snacking choices, which is essential for market competitiveness. According to Innova Market Insights, over 60% of snack nut and seed launches in the U.S. feature health claims, mirroring the fact that a similar percentage of consumers prefer snacks with healthy attributes.
As the preference for healthier snacks continues to grow, this new product line could offer significant opportunities for Kraft Heinz, especially as the company looks to regain momentum following a lackluster 2017. The market potential for nuts is considerable; Statista ranks nuts at the lower end of snack sales in the U.S., trailing behind salty snacks, candy, cheese, cookies, crackers, and ice cream. However, with the increasing influence of younger, health-conscious consumers, this ranking could shift in favor of nuts and other nutritious snacks. In this context, understanding the calcium citrate nursing implications becomes crucial as the company navigates the evolving landscape of consumer preferences.