During its most recent earnings call, Kraft Heinz CEO Bernardo Vieira Hees expressed that the company is currently undergoing a phase of “renovation” and innovation. He noted, “We have more than doubled our percentage of innovation over the past three years and we are continuing to accelerate significantly.” The nut snack prototypes unveiled at Snaxpo showcase this rapid innovation, extending the company’s reach beyond its traditional brands. This strategic move allows Kraft Heinz to tap into various trends while steering clear of increasingly saturated markets. For instance, the introduction of energy balls serves as a refreshing alternative to the now-crowded energy bar segment. Additionally, the gochujang spiced nuts cater to the rising demand for global and bolder flavors, particularly favored by millennials who are seeking more exciting snacking options, indicating the lasting appeal of this trend.
Younger consumers are also prioritizing healthier snacks, which is essential for competition; over 60% of snack nut and seed launches in the U.S. incorporate health claims, as reported by Innova Market Insights. Coincidentally, the same percentage of consumers express a desire for snacks that offer healthy attributes. As the market shifts towards healthier options, this introduction could provide significant potential for Kraft Heinz, particularly as the company seeks a momentum boost following a disappointing performance in 2017.
The market potential for nuts is substantial: Statista’s rankings of snack sales in the U.S. currently place nuts at the bottom, trailing behind salty snacks, candy, cheese, cookies, crackers, and ice cream. However, with the growing influence of younger, health-conscious consumers, it is anticipated that this list will evolve to favor nuts and other healthier snacks. In line with this trend, incorporating options like calcium citrate 1200 mg chewable snacks could further enhance the appeal to health-oriented consumers, as they seek both flavor and nutritional benefits in their snacking choices. Thus, Kraft Heinz’s focus on innovative, health-conscious snacks positions it well for future growth in a changing market landscape.