Diving overview:
- Keranova Announcing the launch of a new snack, Pop-Tart Crunch Poppers have a crunchy outside, a flavorful filling, and layers of frosting and sprinkles. There are two types: Frosted Strawberry Crunch and Frosted Brownie Crunch.
- Keranova said in a statement that the snack emphasizes the pastry brand’s popularity as a snack food by incorporating its flavor and essence into a sweet treat that can be enjoyed beyond breakfast.
- The launch comes as snack food companies seek to differentiate themselves in the snack food category by relying on familiar brands.
Dive Insight:
Since Keranova’s announcement last October that it would spin off into a specialty snack business in 2022, the company has made clear its mission to grow market share through the strengths of its existing portfolio.
Chief Executive Officer Steve Cahillane told Wall Street investors last August that the company could share space with Kellogg’s cereal brands and realize its potential in the lucrative snack food category. The company plans to usher in a new era of growth by leveraging new products.
Our new Crunchy Pop-Tart products will help you achieve this goal. This addition expands Keranova’s snack product line to create a luxurious, crunchy product that fits safely under the well-known snacking banner.
“In a world full of salty snacks, Pop-Tart Crunchy Poppers are the ultimate munching experience that satisfies fans’ sweet and crunchy cravings anytime, anywhere,” said Heidi Ray, Pop-Tarts’ senior director of marketing. . statement.
Snacks accounted for about 80% of Kellogg’s total sales before last year’s split, even though the former company owned iconic cereal brands like Frosted Flakes and Froot Loops. . Keranova competes with snack giants such as Mondelez International and PepsiCo’s Frito-Lay, which currently hold a larger market share than Cheez-It and Pringles makers.
The company’s launch comes as Americans are snacking more frequently, with nearly half of consumers consuming three or more snacks each day, according to Circana data. Quoted by the Wall Street Journal. The size of the snack market is expected to expand at a compound annual growth rate of 2.8%. According to Grand View Research.
