A Foolish Take: PepsiCo's Frito-Lay Dominates Gen Z's Snacking Habits
The global snack food industry is forecast to grow at a compound annual growth rate of 5.3% between 2019 and 2024, according to Mordor Intelligence. That market's future could be defined by the tastes of Gen Z consumers, who are expected to account for 40% of all U.S. consumers by 2020.
That's great news for PepsiCo's (NASDAQ: PEP) Frito-Lay, since it owns three of the five top snack brands (Lay's, Doritos, and Cheetos) in Piper Jaffray's latest "Taking Stock With Teens" survey of 9,500 U.S. teens. Campbell Soup's Goldfish and Kellogg's Cheez-It also cracked the top five.
Data source: Piper Jaffray. Chart by author.
Source Fool.com
