American pistachio supplier, Wonderful Pistachios is tapping into current flavor trends with the launch of its new chilli roasted and honey roasted shell-less pistachios snacks.
Its chili roasted pistachios are made with pepper, garlic and vinegar while its honey roasted flavor includes honey, sugar and a pinch of salt.
According to the company, honey is the most favored flavor in the snack-nut market and hot and spicy is the fasted growing flavor in the salty snack category.
“Snacking in 2019 is all about flavor; it’s a key factor considered when we select any type of snack, and we also know that people eat more nuts when they’re flavored,” said Adam Cooper, senior vice president of Wonderful Pistachios. “Our new flavors of Wonderful Pistachios No Shells will appeal to two distinct flavor fan groups, and they’ll both find that delicious snacks can also be good for you.”
Flavor has always played an important role in the snack market. According to Mintel, 94 percent of consumers snack at least once daily, and while 60 percent of consumers wish there were more healthy options, 51 percent say the taste of a product is more important than health.
Wonderful Pistachios’ combination of balancing healthy snacks with trending flavors could increase the company’s revenue.
In addition to pistachios, nuts as a snack food item in general have grown in popularity over the years due to their rich source of fiber, proteins and healthy fats. In 2013, 37 percent of global snack food items were made with nuts, and over 60 percent of nut-related snacks sold in the US were marketed as organic, natural or free from, tapping into consumers growing preferences for clean labels.
Currently nuts make the top three most consumed snack products globally due to consumers’ desire for food items that offer health and convenience. According to TNA Packing and Processing Solutions, the nut market makes up the third-largest segment of the global snack market, at $15.8 billion, with processed snacks coming in first at $38 billion and potato chips falling second at $26.7 billion.
Furthermore, Mordor Intelligence states nuts are expected to grow at a compound annual growth rate of 5.2 percent between 2018 and 2023.
As coming of age consumers like Generation Z and Millennials favor food items that fit their health-conscious needs, nuts are likely to experience even more growth in the years to come.
In addition, snack suppliers who find ways to enhance the flavor profiles of nuts without altering its nutritional profile will likely experience better sales. As of now the two new flavors of Wonderful Pistachios No Shells are available in stores retailing for $6.00 for 5.5oz bags and $3.29 for 2.25oz.