ABC Radio’s NSW Afternoons recently discussed ShopGrok’s new insights into the latest Australian retail snack market trends and its implications for Australian consumers.
ShopGrok’s data indicates a pattern of substantial growth in product availability across the Australian snack market. We found that the number of products in the snacking category sold in Australia’s major supermarkets has risen by 29 percent in the past 12 months, from 3100 to more than 4000 products.
Meanwhile, the number of snacking brands has also risen from 105 to 140, marking a 41 percent increase.
The push for more snacking options within Australia is in line with global dietary trends, as consumers demand more convenience options to fuel their increasingly fast-paced lives.
Kellogg’s –a major player in the global snacking industry– recently announced its decision to spin off its high-growth snacking portfolio into a separate NYSE-listed business called Kellanova. The new company will focus on becoming a “global snacking powerhouse” with a portfolio of iconic brands such as Pringles, LCMs and Pop Tarts.
According to Kellanova’s Australia managing director, “Many more people are eating on the go,”. “People are moving through the day faster. They don’t necessarily want the same format of food … and we need to answer to that.”
Sales in Pringles have nearly doubled since Kellogg’s acquired it from Procter & Gamble in 2012 for $2.7 billion. Kellanova is now hoping to apply these growth lessons as it looks to introduce more snacking choices to Australian consumers, with plans to introduce more iconic snacking brands including Cheez-Its, Eggo and Rice Krispies Treats.
Read the original Sydney Morning Herald article featuring ShopGrok’s insights here.