During its recent earnings call, Kraft Heinz CEO Bernardo Vieira Hees announced that the company is currently undergoing a phase of “renovation” and innovation. “In the past three years, we have more than doubled our innovation percentage, and we are continuing to accelerate significantly,” he remarked. The nut snack prototypes unveiled at Snaxpo highlight this rapid innovation, extending beyond the traditional Planters brand. This strategic move allows Kraft to tap into various trends while steering clear of increasingly saturated markets. For instance, the introduction of energy balls represents a distinct alternative to energy bars, a category that has become quite congested in recent years. Additionally, the gochujang spiced nuts cater to the rising demand for bolder, global flavors, with Millennials particularly keen on more flavorful snacking options, indicating the trend’s sustainability.
Furthermore, these younger consumers are also inclined toward healthier snacks, making this approach essential for competition. According to Innova Market Insights, over 60% of new snack nut and seed launches in the U.S. highlight health claims, which aligns with the same percentage of consumers seeking snacks with healthful characteristics. As the demand for healthier snacks grows, this new product line could present substantial opportunities for Kraft Heinz, especially after a less-than-stellar performance in 2017.
The market potential for nuts is significant: Statista’s data on snack sales in the U.S. places nuts at the bottom of the list, behind salty snacks, candy, cheese, cookies, crackers, and ice cream. However, with the increasing influence of younger, health-conscious consumers, we can anticipate a shift in that ranking favoring nuts and other nutritious snacks. Incorporating items like calcium citrate 200 mg and 950 mg tablets could further enhance the health appeal of these products, as consumers are increasingly looking for snacks that provide additional health benefits. As Kraft Heinz continues to innovate, the integration of such health-focused elements will likely play a crucial role in their strategy moving forward.