Cowen, Nielsen highlight category sales growth,
NEW YORK — Salty snacks have demonstrated strong growth during the coronavirus outbreak.
The salty snacks category across all U.S. retail markets was up 20.4% in sales for the four weeks ending March 21, according to an industry update report from Cowen and global measurement and data analytics company The Nielsen Co., both based in New York. In the past 12 weeks, salty snacks saw 8.5% sales growth, which is a clear demonstration of the COVID-19 pantry load effect, the report said.
Total category volumes were up 21.1% during the four-week period, compared to 8.1% over the past 12 weeks, the report said.
Sales for PepsiCo increased 20.6% during the four-week period and 8.2% during the 12-week period. The snack and beverage company was one that Nik Modi, an analyst with RBC Capital Markets, New York, expected to perform well despite the COVID-19 crisis.
The Kellogg Co., Battle Creek, Mich., saw 18.9% sales growth in the four weeks ending March 21 (compared to 12-week growth of 5.9%), and Snyder’s-Lance, Charlotte, N.C., saw 27.6% growth during the same time period, with 10.4% growth over 12 weeks, according to the report.
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