Millennials represent about 23.4% of the total US population and are nearing their prime spending years. For the first time in history, food has surpassed clothing as the no. 1 spending category among teens—representing 24% of their total wallet. And while taste is still the top factor in determining spending decisions on food, healthy options are beginning to sway decision making.
According to a study from The Center of Generational Kinetics, 89% of Millennials have eaten at least one better-for-you snack in the past week. Sixty-four percent feel that fewer ingredients means the snack is healthier. And 79% say that understanding all the ingredients increases how much they trust a snack. Trust is especially important because Millennials are shaping the values of the next generation of better-for-you snackers.
Young Millennial parents are favoring healthy snack options for their kids. Eighty-two percent report buying at least one better-for-you snack for their children in the last month. A little over half say their kids are more likely to choose a better-for-you snack over another packaged good. The early identification and preference for these products illustrates the staying power they will have for years to come.
Seventy-eight percent of Millennials say better-for-you snacks taste the same or better than traditional packaged snacks. The taste gap has narrowed due to advancements in flavor masking and modulating capabilities that help better-for-you products taste great. As the leaders in delivering preferred taste, our flavorists and food technologists are prepared to help you create healthy snack options that will be the favored choice for generations. Our masking flavors can assist in overcoming the off-notes inherent in better-for-you products and deliver the consistent flavor profile your customers expect. To learn more about our formulation capabilities, please get in touch.