With Americans stuck at home, snacks have become a valuable commodity for consumers stressed out from the Covid pandemic.
Frito-Lay, a subsidiary of PepsiCo and one of the largest manufacturers of snacks, saw sales increase. The company produces more than 1,200 different types of snacks, including brands such as Cheetos, Doritos, Lay’s, Smartfood and Ruffles.
PepsiCo announced in February that Frito-Lay North America’s net sales increased 5% year over year to $ 5.4 billion in the fourth quarter.
And not only Frito-Lay is experiencing a boom in the snack business.
According to Euromonitor International, sales of savory snacks such as fries, popcorn and pretzels in North America rose to $ 56.9 billion in 2020. This corresponds to an increase of 11% compared to the previous year.
“The snack industry grew and buzzed in the low to mid single digits, and the pandemic just gave it that explosive growth,” said CFRA analyst Garrett Nelson.
During stressful times, people turn to snacking to be comfortable and the pandemic has turned kitchens into giant vending machines in the US. Watch the video above to learn more about Americans’ snacking habits and to see if Covid-19 has ended the move to healthier snacks.
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