ROCKVILLE, Md.Sales of packaged sweet baked snacks and desserts in the United States reached $13 billion in 2012, and are projected to exceed $14 billion in 2017, according to new market research from Packaged Facts.
The report, "Packaged Sweet Baked Snacks and Desserts: U.S. Market Trends," notes sales of packaged baked goods and desserts have grown at a compound annual growth rate (CAGR) of 2.5% since 2008. Key drivers of sales growth include higher prices from smaller pack sizes that have higher per-unit costs. Smaller sizes and single-serve portions will help drive snack growth as they fulfill consumer desire for indulgence and on-the-go snacking options with some portion control, according to Packaged Facts research director David Sprinkle.
Cookies were deemed the markets top performernearly 80% of U.S. adults say they eat cookies. Shelf-stable cookies accounted for 60% of total sales in the packaged sweet baked snacks and dessert segment in 2012.
While most sweet-product innovationlike the trendy cronutare often associated with independent and in-store retailer bakeries, manufacturers of packaged goods also deliver new flavors and experiences on the shelf.
Creating products to satisfy consumers demand for novel tastes and experiences will be key in combating the challenges this mature market will continue to face due to consumers increasingly seeking healthier foods, and increasingly seeking out fresher and more innovative snacks and desserts from in-store and independent bakeries.