The snacking industry is worth $1.2 trillion globally and it...

The snacking industry is worth $1.2 trillion globally and it turns out 2020 was a good year, as people locked in their houses tend to snack more. This article takes a look at the state of this industry and deep dives on some of the industry trends that emerged out of the pandemic. As with everything these days, the industry is moving online with eCommerce snack sales up 44% last year. As diets are changing, snacks are playing a bigger role - 85% of Americans have changed their diets from 3 meals a day and are relying on snacks to power through their days. Despite the plant-based snacks category expected to double in value between 2019 and 2028, unhealthy snacks had a strong year in 2020 with chips and chocolate amongst the top growing categories in the US and crackers and chips in Europe. Amongst these trends, the big snack companies continue to get bigger. PepsiCo bought Rockstar energy drinks for $3.85 billion and Pioneer Foods for $1.7 billion. They also doubled their eCommerce sales with the launch of Snacks.com and PantryShop.com. Nestle acquired Zenpep, Vital Proteins and Freshly while also allocating $550 million to launch a plant and insect based pet food line. This article takes a look at these two companies and all of their peers - Coca Cola, Kraft Heinz, Mars, McCormick, Mondelez, Conagra, Unilever amongst others - to give a snapshot of the top end of the FMCG industry as we head into 2021:

https://snaxshot.substack.com/p/snaxshot-10-the-state-of-big-food