Three Farmers Competitive Landscape

Part
01
of four
Part
01

Salty Snacks - Additional Companies

Additional companies that are competing in the protein snacks market are Bada Bean Bada Boom, Brami Inc, Lebby Snacks, and The Happy Snack Company. A description of the products they offer, where they are based as well as how they compete with Three Farmers are in the findings below.

BADA BEAN BADA BOOM

BRAMI INC

  • The company sells ready-to-eat lupini beans snacks, in a variety of flavors.
  • The company is founded in 2016 and it is based in New York.
  • Customers can order their products directly from their website and Amazon.
  • They are considered as a competitor with Three Farmers as they both sell hi plant protein snacks and Brami promotes that their products have 60% fewer carbs than chickpeas, which is a Three Farmer key ingredient, 50% more protein than eggs, 100% more fiber than edamame, and 80% fewer calories than almonds.

LEBBY SNACKS

  • The company sells non-GMO, vegan, and gluten-free roasted chickpea snacks in a variety of flavors and packaging. It offers a variety of sweet flavors such as chocolate, mocha, and sesame honey to satisfy customers with dessert cravings.
  • The company is based in New York.
  • Customers can order their products directly from their website, Amazon and local stores.
  • They are competing with Three Farmers as they both selling all-natural roasted chickpea snacks, and Lebby Snacks stands out by offering a soft and chewy version of the snack, as well as sweet flavors to target a whole new market.

THE HAPPY SNACK COMPANY

RESEARCH STRATEGY

To identify additional companies that compete in the protein snacks market, the research team searched through e-commerce market spaces, like Amazon, to identify similar products that were popular amongst customers who viewed or purchased products by Three Farmers. This strategy allowed us to identify a few competitors selling similar products that had good customer reviews.

We then followed a similar strategy by searching the company's store within Amazon to identify what other brands customers would go to for similar products.

After identifying the competitors, the research team finally searched through each company's website, industry news sites as well as company databases such as Owler and Crunchbase, to get further information about the company, such as where they are based, what they are selling and how they compete with Three Farmers.
Part
02
of four
Part
02

Salty Snacks - Consumer Drivers

A search through industry reports, industry news and publications by industry leading market intelligence agencies revealed that health and wellness concerns, growing trend for vegetarianism, concern about animal welfare, rampancy of food allergies and sustainability of plant-based foods are among consumer factors driving the vegetable-based snack market. In the research, the term vegetable was taken to mean parts of plants that are consumed by humans or other animals as food including the flowers, fruits, stems, leaves, roots, and seeds.

THE NORTH AMERICA MARKET

EUROPEAN MARKET

  • Health and convenience are two major macro trends shaping much of Europe's food industry and salty snacks are no different. An increasing interest in health and well-being, particularly about what goes into the food and where it comes from, is changing consumer behavior.
  • Consumers are striving to clean up their eating habits to reduce, delay, or reverse preventable diseases such as diabetes, stroke and heart attacks
  • As such, consumers have shown that quality and not convenience, as is the case with other categories, is preferred when buying snacks.

Part
03
of four
Part
03

Salty Snacks - Competitive Landscape

Review of Competitors of Three Farmers

1. Cuisine Soleil

2. Zak Organics

  • Description of products — Zak Organics focuses on producing whole pea-based snacks in four different flavors. These flavors are essentially all salty snacks and would be in direct competition with other salty snacks. However, Zak Organics only produce pea-based snacks.
  • Target market — The company's products are now available in over 700 retail stores, primarily in Canada. They are currently intending to expand into the US and Mexico.
  • Unique value proposition — Most pea-based snacks are imported from China and often contain undesirable elements such as high salt and fat content, as well as artificial coloring, flavors and preservatives. Zak Organics is wholly organic, award-winning and wholly produced in Canada using locally grown crops.
  • Connection to promoting the greater good — They serve as an alternative to unhealthier snacks while promoting local businesses and sustainability.
  • Additional notes — Their product color scheme is extremely similar to Three Farmers — although their flavors are significantly different.

3. Hippiesnacks

Part
04
of four
Part
04

Salty Snacks - Competitive Landscape 2

The Good Bean makes bean nutrition accessible to everyone. Bienah strives to provide a balance between nutrition and taste. Hippeas sets itself apart with a unique personality.

I. The Good Bean

Overview and Products

  • Headquartered in Berkeley, California, The Good Bean was founded in 2010. It is a producer of crunchy bean snacks made from favas, chickpeas, and peas.
  • The company offers two lines of products: 'Crunchy Chickpeas' and 'Crispy Favas + Peas.' Its products are offered in seven flavors.

Target Market and Value Proposition

  • According to the company's CEO, their products are for everyone and not just for "natural and specialty channels or customers." The company is dedicated to providing healthy snacks for everyone.
  • The company's value proposition is that it makes bean nutrition accessible to everyone through accessible flavors, accessible packaging, and accessible pricing.

Promotion of the Greater Good

  • The Good Bean sources its beans from local family farms in the United States; therefore, supporting the local farmers.
  • The company states that its "snacks are all-natural whole foods" made from minimally-processed Non-GMO ingredients. It is also committed to ethical trade practices.

II. Bienah

Overview and Products

  • Headquartered in Boston, Massachusetts, Bienah was founded in 2012. It offers a variety of chickpea snacks sold in over 15,000 retail outlets in the United States.
  • Bienah specializes in Chickpea products only with an assortment of flavors including Sea Salt, Honey Roasted, and Chickpea Puffs.

Target Market

  • According to sentiments from an interview with Biena's CEO, the company creates tasty and nutritious products that would appeal to young children.
  • According to Mothering.com, Bienah has found "found the key to delicious plant-based snacks for kids."
  • Also, the majority of Biena's posts on its Instagram page seem to target mothers who have to prepare lunches for their young children.
  • While Biena's website says that the company offers snacks for everyone, based on the aforementioned information, the company seems more focused on appealing to young children through their mothers.

Value Proposition

  • Bienah claims to fill the market gap and unmet need around nutrition and taste. While its competitors only focus on providing nutritious products, the brand does not compromise on taste.
  • Bienah's new tagline, "Goodness That Wows," is meant to reinforce the idea that customers should not compromise taste for goodness.

Promotion of the Greater Good

  • According to Biena's CEO, the brand's name comes from 'bien,' a Spanish word that means 'good.' Therefore, the company's mission is to create snacks that are both nutritious and "made with real food ingredients."
  • According to the Bienah website, it offers nutrient-dense products with taste and crunch in a healthier way.

III. Hippies

Overview and Products

  • Headquartered in Plainview, New York, Hippeas was founded in 2016. Its products can now be found in over 30,000 stores including Whole Foods and Starbucks.
  • Hippeas is a producer of "organic chickpea puffs" with flavors ranging from bohemian barbecue to siracha sunshine and vegetarian white cheddar.

Target Audience and Value Proposition

  • According to the Hippeas website, the company targets "modern day hippies," who are essentially the youth.
  • After its launch in 2016, Forbes described Hippeas as a "health food startup geared towards millennials."
  • According to Hippeas' founder, "Hippeas is a lifestyle snacking platform in the pulse and legume-based snacking world." The brand differentiates itself from the rest through its unique and 'hip' personality.

Promotion of the Greater Good

  • Hippeas works with Feeding America to donate to American food banks and to aid in disaster relief initiatives. Hippeas also only uses Non-GMO, USDA-certified organic ingredients.
  • Additionally, Hippeas finances Farm Africa, an initiative that supports Eastern African farmers.

RESEARCH STRATEGY

We have used the competitors' official websites, as well as company profiling sites such as LinkedIn and credible industry-focused and overall media resources to build a competitive review. Notably, we have used a 2016 Forbes report to correlate the information on Hippeas' target audience since there are no recent reports that directly mention millennials. Also, we had to leverage several news reports and Biena's social media platforms to determine its target audience.
Sources
Sources

From Part 02
Quotes
  • "Consumers are becoming readily conscious and aware about whatever they consume, and their effects on health and wellness. Thus, they are picking natural and plant-based healthier products that satisfy their demand for nutrition, taste, and flavor. This is the primary driver for the fast growth of the plant-based snacks market."
  • "The need for plant-based snacks is increasing, as other snack products having high oil, sugar, and fat content are associated with a number of problems, such as obesity, diabetes, and high blood pressure, due to higher sugar content and presence of artificial flavors and additives. Plant-based snacks are a natural and healthier alternative to their animal-based counterparts, and thus, appeal to a large consumer base."
  • "APEJ, Western Europe, and North America, together, constitute more than 92.9% of the market share for plant-based snacks. "
Quotes
  • "Besides, increasing health issues and diseases like diabetes, obesity, and cardiovascular diseases have pushed consumers towards consuming healthier snack alternatives in the form of plant-based snacks."
  • "The growing acceptance of plant-based snacks among consumers is leading to the cumulative interest of big companies towards these products."
Quotes
  • "Most US consumers aren’t meeting the recommended intake guidelines for fruits and vegetables. Lack of availability, inconvenience and perceived taste are some of the roadblocks consumers said are keeping them from eating more plant-based foods, according to the Hartman Group. Food brands are responding with packaged snacks that are readily available and deliver on both nutrition and taste. While the former may drive consumers to seek out these alternative snacks, the latter is essential to ensuring repeat purchases."
Quotes
  • "Health and convenience are two major macro trends shaping much of Europe's food industry and salty snacks is no different."
Quotes
  • "In the U.S., companies have found success in the “snackable” fruit and vegetable category, such as grapes or baby carrots. These portable produce items are then repackaged into individual servings. Think: dried fruit and nut snack packs, small fresh smoothies and fruit cups."
Quotes
  • "Half of U.S. consumers believe they need more protein in their diet, according to Mintel research on plant-based proteins, and the majority say that protein derived from plant-based sources is inherently healthy."
From Part 03
Quotes
  • "Allen recalled trying to find convenient snacks when their boys were growing up: “It was either high fat, high salt, loaded with monosodium glutamate or it had added colours...” And do better they have by taking a crop they grow and turning it into an organic snack line without additives, fillers or preservatives."
Quotes
  • "Zak Organics produces the world’s only certified organic, whole green pea snack. In addition to being a good source of protein, the natural snacks contain no artificial colours, flavours, or preservatives and are free from dairy, nuts, and gluten."
  • "You can find Zak Organics in over 700 stores across Canada."
Quotes
  • "Hippie Snacks has jumped on board by releasing Cauliflower Crisps as well as Avocado Crisps. The treats are have five grams of protein per serving and are plant-based, non-GMO and gluten free!"
Quotes
  • ""Lentils are an excellent source of iron, so this snack brings us 40% of our recommended daily iron intake,"... The only problem is the amount of salt (250 mg per serving), information "to watch for people to control their sodium intake,""
Quotes
  • "With eight employees working at full capacity, Cuisine Soleil would need about $ 200,000 to keep the head out of the water, according to Marc Paquin. "We have orders, but we are not able to deliver because of a lack of working capital," he said."
Quotes
  • ""Cuisine Soleil found success on foreign markets with its grilled lentils healthy snacks, sold everywhere in Canada but also in France and Mexico. Since 2017, strated a metamorphosis" [So this is at least current information while the website is down]"
Quotes
  • "Unlike other pea-based snacks that are predominantly processed in China and often contain artificial flavours, colours, or preservatives, our Crunchy Peas are made with clean and simple ingredients. "