NightFood Developing Additional Products to Address $50 Billion Nighttime Snack Market
TARRYTOWN, NY -- (Marketwired) -- 05/11/17 -- NightFood Holdings, Inc. (OTCQB: NGTF), a fully reporting "better-for-you" snack company, announced today that the Company is actively working to add additional offerings to its line of better-for-you nighttime snacks.
In addition to developing new flavors for addition to the existing line of NightFood nutrition bars, the Company is considering introducing other snack formats, ice cream and the growing "bites" format.
In their annual State of the Snack Food Industry report, Information Resources Incorporated (IRI) recently reported the top five snacks for each day-part. At night, 44% of all snacking occurs representing over $50 billion annually in consumer spend. The most popular nighttime snack categories, in order, are salty snacks (chips, pretzels, popcorn), followed by ice cream, candy, and cookies.
NightFood CEO Sean Folkson commented, "The industry data shows which snacks are most popular at night. We estimate there's approximately $100 million worth of ice cream, candy, cookies, and salty snacks consumed every single night in this country. People love the bars, and we also want to be able to start offering people nighttime appropriate versions of the snack formats they're already eating at night."
Meetings have been conducted with major distributors to identify the most desirable formats as well as go-to-market strategies and timelines.
Folkson added, "Our advisors firmly believe that a broader product line will benefit the Company tremendously and in numerous ways. Today's consumer is looking for snacks with secondary benefits beyond great taste, and satisfaction of hunger and cravings. As a result, when the consumer has access to more nighttime appropriate and sleep-friendly versions of the snack formats they're already consuming, we anticipate strong consumer response."
NightFood (OTCQB: NGTF), "The Nighttime Snack Company", is a snack food company dedicated to providing consumers delicious, better-for-you choices for evening snacking. NightFood is the first company to create products to address the unique nutritional needs consumers have at night. 44% of snack consumption occurs at night, representing a consumer spend of over $1B weekly on nighttime snacks. NightFood creates, manufactures, and distributes products to help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way. For more information, visit http://ir.nightfood.com and www.nightfood.com
Forward Looking Statements:
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Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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Source: NightFood Holdings, Inc.
Released May 11, 2017