Campbell Soup has made the phrase “Real food that matters for life’s moments” a fabric of who it is.

One complicated landscape 

Defining snacking and the opportunities to grow within the industry, he acknowledged, has gotten a lot more complicated in recent years.

“It’s complex in terms of the number of snacks you find and where you are going to find them,” Mr. Abrams-Rivera said. “The number of channels where you find snacks today is more complex than it used to be. At the same time, we see this as an opportunity. We recognize how (this trend) has supplanted the amount of meals and meal occasions happening in the U.S.”

During Campbell Soup’s investor presentation, Luca Mignini, president, Global Biscuits and Snacks, pointed out that 90% of consumers snack multiple times per day, more than 50% of all U.S. eating occasions are snacks and nearly half of U.S. consumer replace meals with snacks at least three to four times per week.

Luca Mignini, president, Global Biscuits and Snacks for Campbell Soup

“Today, more than two-thirds of snacks are what we have referred to as ‘mindless munching,’” he told investors. “In other words, snacks that satisfy craving. We are turning our attention to purposeful or mindful snacking. This type of snacking has a role beyond simply satisfying a craving. These snacks can impact health and well-being. The right snack at the right moment can provide numerous benefits, from a burst of energy to increased mental activity or even a sense of a reward from a ‘Milano moment.’”

Mr. Abrams-Rivera elaborated that consumers have a greater number of options than in the past.

Pepperidge Farm bakes nearly 100 different snacks, including 29 varieties of Goldfish.

“More consumers are looking for snacks that have a different purpose in their lives,” he told Baking & Snack. “They feel the need to have that extra fuel to get to the next meal, and they’re more aware of the quality of ingredients to do that. Consumers are clearer that all snacks are not created equal, and they’re more sensitive to ‘what exactly is in that snack, what actually are those ingredients going to do for me based on what I’m looking for right now.’”