Canadean: Millennials tend to shun eating three meals a day

According to "Top Trends in Snacks, Confectionery, and Desserts," a May report from Canadean Ltd., London, more than one-third of consumers globally say that they snack regularly. That figure rises to more than 40 percent for consumers aged 18 to 34.

Consumers snack for a variety of reasons such as the functional need for an energy or nutritional boost, the psychological need to de-stress or indulge, and needs dictated by occasion such as watching a movie, attending a sporting event, or socializing with friends, Canadean said.

As more consumers turn to snacks to fulfill a wide range of needs and occasions every day, the potential opportunities for snacking products increase significantly within the health-indulgence and sweet-savory categories, Canadean said.

“While it is important for brands to acknowledge and address the snacking needs of all consumers, it is particularly crucial to understand the motivations of younger consumers," said Katrina Diamonon, principal consumer insight, Canadean. "Not only are they more frequent snackers, but their purchase behaviors and preferences will strongly influence other current consumers and also subsequent generations as they pass on these traits to their children.”

As millennials tend to prioritize meat in their diets more highly than their older counterparts due to its perceived health benefits, manufacturers should capitalize on the meat snack segment and explore new opportunities, Canadean said.

“Manufacturers are increasingly experimenting with a range of proteins, formats, and gourmet flavors to elevate consumption from convenience store snacks to an exciting taste experience and even credible meal replacement," Diamonon said. "Improved sourcing transparency and ethical production of such offerings is also enhancing premium credentials.”