American consumers are snacking more than ever with U.S. retail sales of packaged snacks reaching $64 billion in 2010, up from $56 billion in 2006, according to market researcher Packaged Facts.
In addition, sales of packaged snacks are expected to reach $77 billion by 2015.
This represents a compound annual growth rate of 3 per cent in recent years with that growth rate expected to increase to 4 per cent by 2013. Snacking has been on the increase as the result of less frequent restaurant dining, busy consumer lifestyles requiring eating on the go, and more and more consumers are repacking meals with several smaller snacks. Also, manufacturers are working to develop healthier snacks that still taste just as good.