KANSAS CITY — As the lines between snacking and such traditional meal occasions as breakfast, lunch and dinner continue to blur, the snack segment is benefiting. The growth is pushing snack makers and other food and beverage manufacturers interested in capitalizing on the opportunities presented to innovate, expand their product portfolios, create even more opportunities and, subsequently, provide additional momentum to what has evolved into a significant trend.

The market researcher Circana estimates sales of snacks sold at retail in 2023 rose to approximately $214 billion. As with other food and beverage categories, price increases underpinned the growth while the number of units sold slipped.

Still, Circana noted that the total number of snacking occasions continues to rise with greater mobility following the COVID-19 pandemic, and that 46% of consumers reported eating snacks more than three times per day.

Data from 84.51º, the Kroger Co.’s market research group, supports Circana’s insight that consumers are snacking more frequently. The number of shoppers claiming to snack multiple times per day rose from 15% in 2023 to 27% in 2024, according to 84.51º’s May 2024 Consumer Digest.

And the snack manufacturer Mondelez International, Inc.’s most recent State of Snacking report showed that 88% of consumers surveyed said they snack daily and 60% said they snack twice a day. Seventy-five percent said they have “ritualized snack time” to eat a snack at a certain time of the day.

These insights show that as consumers snack more frequently there will be additional opportunities for growth. The challenge is to deliver the right products at the right time.

Kroger’s May Consumer Digest showed consumers most often snack in the afternoon and evening, and that the most popular snack foods are cheese, fruit, potato chips, crackers, chocolate, cookies, tortilla chips and popcorn.

Also interesting is what consumers say when they are asked to prioritize how they choose a snack. Like other foodstuffs, flavor ranks No. 1 in terms of importance at 75% of respondents choosing it followed by “fulfills a craving” (55%), convenience (46%), “curbs my appetite” (41%), package size (39%), high protein (29%), “boosts my energy” (28%), low sugar (24%) and relieves stress (20%).

These priorities show why some snacks are more popular than others and present a roadmap for possible opportunities. Companies like The Hershey Co.; Hostess Brands, a J.M. Smucker business; Mars, Inc.; Mondelez International, Inc.; and Frito-Lay, a PepsiCo, Inc., business unit, have thrived on creating convenient snack options that fulfill a craving, primarily for indulgence, and may help curb a consumer’s appetite.

Where future opportunities may lie is in the market for better-for-you options. As consumers snack more often, it stands to reason they also may seek alternatives to the indulgent options that dominate the market. The popularity of cheese, fruit and nuts demonstrates there is demand for better-for-you options. The challenge for manufacturers is to crack the code on creating tasty applications that deliver protein, reduced sugar and other functional benefits.