Europe Snack bars Market

Description

Snack bars are versatile food items- that are many times looked upon as on-the-go breakfast items. Apart from being an instant snack, they also provide a healthier alternative for chocolates, particularly cereal bars. Being high in fibre, proteins and low in carbs, cereal bar, in particular, have been popular amongst the health-conscious community all around the world. The European market of Snack Bars is currently accounted for US$XX Million and is expected to grow to US$XX Million by 2022, at a CAGR of XX% during the forecast period. Changing lifestyle, an enormous supply of quality raw materials, along with increasing disposable income are further fueling the growth of the European Snack Bars market.

Market Dynamics:

The European Snack Bars market is highly fragmented, due to a presence of small, local players, as well as giant manufacturers. Snack bars are a popular particularly in the working class, since they provide a better alternative to chocolates, but also other snacks like sandwiches, due to their convenience and wholesomeness. Rapid urbanisation worldwide and busy lifestyles have also been a reason for expanding the market. The relatively low price of snack bars has made it popular amongst the middle class. Cereal, snack and energy bars are only recently giving strong enough competition in the mainstream market, compared to long-established snack sub-sectors with more potential to attract both new manufacturers and users. There is a tremendous opportunity in the market to exploit the growing trend of health consciousness and a scope to diversify flavours and packet sizes. Sports Nutrition is another key area for the snack bars in Europe. Brands are becoming more specific regarding the type of athletic support they provide, and the type of benefits they can offer to athletes. As the European snack bar market is currently in its growing phase, manufacturers from other categories, such as biscuits, are looking forward to expanding their brand presence, by entering the market.

Market Segmentation:

On the basis of type, the market has been segmented into Nutrition/Health Bars, Granola Bars and Breakfast Bars. Nutrition bars have the largest market share and is expected to grow fastest. However, the Snack bar market is highly fragmented in the region, with varied segmentations in different countries. On the basis of distribution channels, the market has been divided into Supermarkets/hypermarkets, convenience stores, speciality food stores, online retailers, and others. Supermarkets have shown the highest number of Snack bars sales, followed by convenience stores and speciality food stores.

Geographical Analysis:

The market is different in different regions of Europe. For instance, the French market covers packaged family, adult and single snack bars which can be eaten without accompaniment (egg milk) anywhere (such as on street) usually between meals. It includes [fruit, nut/seed and cereal and other] snack bars. Market size comprises sales through all retail channels including direct to consumer. Similarly, Germany, Spain and Italy have a different market segment for snack bars.

Key players in the industry include Clif Bar & Co, General Mills, General Mills, Atkins Nutritionals and Kashi.