During its recent earnings call, Kraft Heinz CEO Bernardo Vieira Hees stated that the company is currently undergoing a phase of “renovation” and innovation. He noted, “In the past three years, we have more than doubled our percentage of innovation, and we are continuing to accelerate significantly.” The nut snack prototypes showcased at Snaxpo exemplify 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 offers a distinct alternative to energy bars, which have become quite competitive in recent years. Additionally, the gochujang spiced nuts cater to the rising demand for bold and global flavors, particularly among Millennials who are on the lookout for more flavorful snacking options, suggesting that this trend is here to stay.
Moreover, younger consumers are also prioritizing healthier snacks. This trend is crucial for competition, as over 60% of new snack nut and seed products in the U.S. include health claims, according to Innova Market Insights. Interestingly, the same percentage of consumers express a desire for snacks with healthy attributes. As the demand for healthier options grows, this product launch could present significant opportunities for Kraft Heinz, especially following a lackluster performance in 2017.
The market potential for nuts is substantial: Statista indicates that nuts rank last in U.S. snack sales, trailing 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 this ranking that will favor nuts and other nutritious snacks. Additionally, integrating products like kal calcium citrate chewable snacks could further appeal to health-focused consumers, allowing Kraft Heinz to expand its offerings in a competitive market. As the company continues to innovate, we may see more varieties of kal calcium citrate chewable snacks, responding to the demand for healthier, flavorful options.