Although Soylent initially gained popularity with its meal-replacement drinks, the company has demonstrated a desire to diversify and enter the mainstream snacking market this year. In January, the Los Angeles-based brand launched Soylent Bridge, a drink designed to serve as a snack option between meals. While this product maintains a connection to the original Soylent drink, Soylent Squared reintroduces chewable snacks to their lineup. The goal is to extend Soylent’s reach beyond its committed consumer base and attract a broader audience interested in mainstream snack options. By venturing into the snacking sector, Soylent aims to appeal to hungry, on-the-go consumers, capitalizing on the growing trends of convenience and health-conscious eating.
For many people, snack time has become synonymous with meal time. According to Datassential, consumers typically consume four to five snack items daily instead of the traditional three sit-down meals. Consequently, the snack market, valued at $89 billion in 2018, is projected to grow at a compound annual growth rate of 6.83% from 2017 to 2021, as reported by Research and Markets. However, Soylent Squared faces stiff competition in an already saturated market filled with diverse options to satisfy various tastes. Staying true to the company’s core principles, Soylent is promoting the bars as a sustainable choice, as they contain protein and nutrients derived from genetically modified sources. This could alienate some consumers, particularly since recent studies indicate that shoppers remain “grossed out” and wary of GMO foods.
This isn’t Soylent’s first attempt at a bar product. In 2016, the company introduced a 250-calorie snack bar, but it was swiftly removed from shelves due to reports of illness, which Soylent attributed to an algae ingredient supplied by TerraVia. Although the ingredient is now owned by Corbion, it remains unclear whether it was indeed the cause of the reported health issues. Similar complaints regarding their protein powder also surfaced during that time, as CNN reported nausea associated with its consumption. Since then, the company has reformulated its products. A label from a Soylent Squared bar posted on Reddit indicates the absence of algal flour in the snack bar, but it does include calcium citrate in water and probiotics.
Currently, Soylent is only offering three sweet flavors that resemble waxy protein bars. Crowley mentioned to CNN Business that the company is striving to enhance the product and is keen on developing a savory variant. In a market flooded with protein bars, a savory option that isn’t just a jerky snack could be distinctive and memorable for consumers. Nonetheless, Soylent faces significant challenges ahead. With competitors ranging from Epic meat snacks to Kind bars, consumers have an abundance of choices for on-the-go snacking. Unless Soylent can find a delicious way to stand out, it is unlikely to move beyond its highly focused core market.