Rising inflation has Brazilian consumers feeling the pinch resulting in a decrease in nonessential spending. According to the latest Mintel research, 52 percent of Brazilian consumers have cut superfluous and nonessential items, like snacks, from their budget to save money. Another cost-cutting measure is replacing entire meals with snacks which a third (33 percent) of Brazilians have done in the past three months.
Considering why consumers replace meals with snacks, two-thirds (66 percent) said they do so to satisfy their hunger. Mintel's 2023 Global Food and Drink Trends, Savvy Sustenance, indicated that, in this time of economic instability and high inflation, consumers favour foods that leave them satiated for longer and offer a complete nutritional composition, which can be directly tied to snack consumption.
Laura Menegon, Food and Drink Analyst at LatAm, said meal replacement was familiar, especially as consumers have become busier daily.
"However, as these consumers are opting for convenient products, there is an opportunity for snack brands to launch products that are convenient but also provide a similar feeling of satiety to that of a meal and with more varied ingredients and nutrients profiles," said Menegon.
Products with higher energy and nutritional density that offer a more prolonged feeling of satiety are well positioned to win consumer preference for better value for money.
Packaging is the primary concern of sustainability-minded snacking consumers, as 40 percent prefer snacks in sustainable packaging, while 28 percent prefer natural snacks because they generally come with less packaging. Consumers are looking for brands to be more transparent, as shown by 36 percent of Brazilian consumers expecting more brands to make clear statements about their sustainable actions.
Furthermore, of the one-third (30 percent) of consumers who worry about the sustainability of the ingredients used in snacks, 76 percent are willing to pay more for high-quality, premium snacks. Lastly, 22 percent would only eat a snack if the brand contributed to sustainability initiatives.
"Since sustainability is an increasingly important factor for Brazilian consumers when it comes to snack packaging and ingredients, manufacturers and retailers must be transparent in their efforts to reduce waste and reuse materials."
The reduction can occur by eliminating secondary packaging and using biodegradable and thinner material. Brands can also invest in reusable packaging, which carries sustainability credentials and adds value to the product.
"Brands prioritising sustainable packaging solutions will likely appeal to Brazilian consumers."
Finally, Mintel's research showed that young adults aged 16 to 34 agreed snacking helped alleviate mental and emotional health issues. Thirty percent of consumers aged 16 to 34 snack to cheer themselves up, compared to 16 percent of those aged 35 and over.
Additionally, 39 percent of those aged 16 to 34 snack to relax and de-stress, compared to 29 percent of those aged 35 and over. The relationship between snacking and the relief or control of emotional issues is especially relevant for young consumers, as two in five consumers aged 16-34 agree that eating snacks helps them deal with anxiety (41 percent) and is an excellent way to de-stress (42 percent), compared to a third (32 percent and 36 percent, respectively) of consumers aged 35 and over.
"The relationship between snacking and relieving or controlling emotional issues is especially relevant for young consumers."
By offering a pleasant and relaxing moment in the middle of the day, snacks have been gaining importance in the daily routine of Brazilians. Menegon said that brands should seek to provide products with the desired benefits for each snacking consumption occasion and highlight the attributes most desired by this younger age group to attract those who want to relieve stress and anxiety by providing moments of relaxation and indulgence.
