SnackMagic is a snack-focused subscription box service.
Customers can set up a snack budget. And recipients choose which treats to receive from the catalog. There’s also an option for curated snack boxes (with some limited customization).
The service menu includes snacks, beverages, and pantry items from 236 brands.
The startup reached $20M in annual revenue in December 2020. And raised $15M in a Series A funding round at a $66-99M estimated valuation in April 2021.
What's next:
SnackMagic is a part of the “DTC fourth meal” meta trend.
35% of US consumers state that they are snacking more now compared to the start of the pandemic.
Another survey suggests even higher numbers, with 46% of global survey respondents consuming more snacks (and 62% among remote employees).
And 38% of consumers opt to buy snacks online, up from 20% before the pandemic. Plus, 69% of consumers plan to continue purchasing snacks after the pandemic, and 77% said the process was easier than expected.
Here are some interesting growing brands in this space:
IWON Organics: High-protein snack brand. Most of their products are made from beans, peas, and rice. The California-based startup raised $850K in disclosed funding across 2 rounds.
Schoolyard Snacks: Makes keto-friendly, sugar-free snacks containing milk protein isolate. Schoolyard Snacks reports that they have more than 200K customers. They raised $5M in funding last year.
Outstanding Foods: Manufacturer of plant-based snacks. Their flagship product is a “pigless pork rind”. Sales of “plant-based meat snacks” in the US have grown by 42% over the last year.