According to Mintel data, new peanut product introductions increased five percent from Q4 2017 to Q3 2018. Sixty percent of new peanut product introductions are classified as snacks, and the snack category continues to maintain growth and innovation for peanuts with a 28% increase.
Top growing package claims for new peanut product introductions over this period included ease of use, microwaveable, time/speed and functional-cardiovascular. These claims align with consumer demands for food that's convenient and supports health.
Peanut breeders are thinking small and innovating with peanuts seeds to improve the sustainability of peanut production. Developing new varieties that maximize peanuts’ already sustainable traits can help reduce the environmental impact of peanut farming, make production more cost-effective for farmers, and make peanuts one of the most sustainable crops.
The ease, convenience and affordability of street foods is what launched them into the hearts and stomachs of people throughout the world. The food trucks, carts and booths that sell street foods are unique – they are often locally owned and operated, but feature global cuisines. The offerings are ever changing, adapting to new trends and testing new flavors, always providing consumers with tasty and trendy dishes.
So, what’s hot and next for street foods?
Food inspiration can come from anywhere, anyone….or more specifically, from a battle against the clock at a Market Basket Challenge during the National Peanut Board’s Millennial Food Summit. The three-hour challenge tested attendees of the summit to create new food concepts that would contend with some of the millennial food trends we are seeing in today’s consumer market. Here are three creations that really hit the mark on flavor, creativity and overall highlighted use of peanuts.
New peanut products in the dairy category have spiked since the start of 2018. In both the dairy milk and alternative milk spaces, product introductions with peanut ingredients are up 200%, according to data from Mintel. New breakfast cereals with peanuts have increased 50%.
You wouldn’t know it by looking at him now, but Juan Salinas was a self-described skinny kid who spent his time hanging out with friends and playing video games. One fateful day, his dad challenged him to join the local swim team, “just for a month”. After the first week, Juan fell in love with the sport and ended up competing on the Honduran National Swimming Team.
Juan has been giving things a try, overcoming challenges and excelling ever since.
Peanuts are a tasty and convenient snack, and new product introductions reflect our love of snacking. Snacks are consistently a top performer for new peanut product introductions and this category shows no signs of slowing down. In the past quarter, new product introductions in the snack category increased 46 percent compared to last year, according to Mintel. These newly launched and recently announced product introductions like peanut milk will also contribute to continued growth in snacks.
The food trends list are out detailing what's hot, what's not, and what you're likely to see and eat in the near future. Air frying and plant proteins are definitely in, while spiralized vegetables are on their way out. But one trend that isn’t going away anytime soon has as much to do with the food as the vessel that it’s served in. Meals served in bowls continue to be a popular trend, and grain bowls are the new black.
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