KP Snacks said consumer insight reveals that 51% of consumers consider flavor to be the top purchase driver for crisps and snacks.
Mintel and HIM data also suggested the sharing segment is growing at 10.7% yoy, meaning market demand for flavorsome sharing products has never been stronger.
To answer this call, the UK snack company has launched Hula Hoops Flavarings in two favored flavors – Tangy Cheese and Salt & Vinegar – that follows the rollout earlier this year of Hula Hoops Puft Sweet Chilli Puft Multipack and Big Hoops Spicy Chilli.
“We are committed to understanding our consumers and shoppers needs, and providing the optimum snacking choices for their changing lifestyles. Our innovation will drive excitement by harnessing trends, stimulating the category and delivering incrementally,” said Matt Collins, sales director for Convenience, Wholesale, Discounters & Foodservice at KP Snacks.
According to KP Snacks, Hula Hoops is currently the fastest growing snack brand in the UK and three packs are sold every second. The brand is currently worth £105.9m, ($140.4m) with double-digit MAT growth of +15.6%.
“Hula Hoops products are purchased in nine million households. Flavarings is a great addition to this iconic brand and perfectly positioned to re-ignite this sharing occasion for both retailers and shoppers,” added Collins.
The new Hula Hoops Flavarings feature the well-known hoop shape and are being rolled out across the UK this month in a 90g sharing format with as RSP of £1.50 ($2) and a 55g £1 ($1.33) PMP. The launch is being supported with a £1m ($1.3m) media campaign throughout this year, including in-store activation, outdoor media and digital.
The case for crisps:
- The snacking landscape for the week ending 18 March 2018 is worth £9bn ($11.9m)
- 96% of people eat snacks
- 79% of snacking occasions happen at home
- 66% say what they eat impact their emotional well-being
- 64% of snackers say snacks are important to keep their energy up throughout the day
- 56% of consumers start the day intending to be healthy, but 36% go for taste and 26% consider indulgence when choosing a snack by the evening
- 45% of snackers says crisps are a must for an evening in, while 64% of cinema goers watch more films at home today than they did two years ago
- 49% say crisps/savory snacks are a healthier choice than sugary snacks
- 31% of consumers want a mess-free snack
Source: HIM 2018 and Mintel research
Slough-headquartered KP Snacks – part of the Intersnack Group that has a footprint in over 30 European countries – is the UK’s leading manufacturer of nuts and number two manufacturer of bagged snacks, including McCoy’s, Hula Hoops, KP Nuts, POM-BEAR, Butterkist, Skips, Space Raiders, Discos, Nik Naks, Wheat Crunchies, Royster’s, Brannigans and Frisps.
The company employs 1,600 people in the UK across five production sites.