Justin’s has regularly added on products to its portfolio since Hormel Foods accessed the firm in 2016. The Colorado-based Justin’s has launched nut butter cups and nut butter-covered nuts as it gets on the line between indulgence and better-for-you snacking.

Refrigerated bars have hastily gained admiration now-a-days. According to Modelez’s Mintel data, the U.S. refrigerated snacks acquired $20 billion by yearly sales representing one-third of the total snacks market. Healthier snacks like nutrition bars, packs with nuts and fruits, yogurts and hummus contributed around $7 billion of the total sales. The unit is growing tremendously than any other refrigerated snacks at around 8% annual profits since the past three years, the data revealed.

The company will however, face some tough competition from other firms with their already ready items for sale.

Perfect Snacks, the first major refrigerated snack bars’ brand which started with organic, non-GMO, nut butter-based protein bites and bars in 2016, snack giant Mondelez adopted a major stake in the company. Kind entered the fray in 2020 when it introduced a chilled nut-butter protein bar. Refrigerated bars have also been offered by brands like NuttZo and OHi.

Nonetheless, there is always a room for new comers to the space. Having consumers eating up to 4-5 snacks per day at an average, snacking has become one of the speedily developing facilities in the food space. Sales exceeding $89 billion annually have been reported, as per the IRI.

Snacking-interests of consumers have augmented during the pandemic as people stay mostly at home. Snack food consumption increased by 8% in April as consumers mainly showed desires to stock up frozen sweets and salty items, revealed the NPD Group.

Justin’s new extension focusses on both salty as well as its snacks with its nut butters and refrigerated sweets as the bars feature a dark chocolate and a honey flavor with 10g of plant-based proteins per pack. The new delicacy will have organic maple syrup as the sweetening agent and will be containing 40% less sugar than other leading refrigerated brands. While Justin’s succeeded in its past launches that appealed to consumers’ taste buds, it may be tougher for these bars to stand out as they depend on their protein-forward profile to gain attention.

Although protein has been a dependable marketing tool for years, snack bars especially protein and meal replacement options – have gained much more attention during the global epidemic. Sales boosted in March and April, according to the Bernstein analysis. The firm stated it anticipated the segment to recover in a long haul.

Total sales in Hormel’s Grocery Products segment, which comprises Justin’s, spiked up by 6.9% for the 13 weeks ending on July 28 as compared to the same period last year. If the brand’s refrigerated bars experiences success alike its previous add-ons, the brand will surely witness rise sales at a great pace.

Author

A Zoophile scrambling the horizon for surreal subtleties, sheer poetic at heart and quite handy with life.

Write A Comment