Snack bars have been doing exceptionally well in recent times, owing to a desire for change from conventional snacking products amongst many urban dwellers. A call for healthier lifestyles and improved nutritional intake have paved much way for the market’s growth. With rapid urbanisation and a notable increase in disposable salaries of working professionals, consumers have started bending towards nutrition products, which albeit being expensive, supposedly provide with healthier options.
The global snack bars market is expected to register a CAGR of XX% in the forecast period 2017-2022. Estimated at a valuation of US$ XX in 2017, the market is projected to reach US$ XX by 2022.
End users of snack bars include working class professionals eyeing healthier alternatives to conventional snacking (chips, biscuits, cakes, etc.) as well as athletes and other related performers, who choose snack bars in the view that they lead to lower carbohydrate intake and help reduce unnecessary appetite. Over the years, teenagers conscious of their well-being have also emerged as a notable share in the market’s consumer population.
Emerging health concerns and precautionary measure have widened sales for snack bars, especially in the protein bars segment. Manufacturers market their product under tags of being a functional snack that are low on carbs and fortified with essential proteins. Amidst varying diet trends, variants that are gluten free and absolved of other known allergens have also been made available. While the bulk share of consumers loyal to the market comprise of the working class and high athletic performers, ad campaigns targeting teenagers conscious of their bodies and otherwise well-being have also become major hits. Contrary to most nutrition products, snack bars provide consumers with an affordable option, aggressively tackling other rivalling markets (such as potato chips, biscuits, cakes, etc.)
While manufacturers find it convenient to use potential product shortcomings (such as high sugar content, allergen content, etc.), these issues remain major hurdles to the market’s future growth in the nutrition sector. Other nutrition foods and convenience products also pose threats to the market’s stance during the forecast period.
Based on type and ingredient, the market can be segmented into breakfast bars, fruit bars, energy bars, granola, and nutritional bars. Amongst these, granola bars hold the highest share in terms of total units sold.
Regionally, the global snacks bar market can be segregated into its bulkiest segments – North America, Europe, and Asia-Pacific. In terms of capacity, North America is the leading segment, with USA taking up a lion’s share of the total units sold. In terms of growth, East Asian economies in the Asia-Pacific segment have shown more than promising figures, ensuring a steady rise during the forecast period.
Key players in the market include Nature Valley, Naturell, Kellogg, Jordan, and Alpen.
- Market segments
- Market Drivers, Restraints and Opportunities
- Market Size & Forecast 2016 to 2022
- Supply & Demand Value Chain
- Market – Current Trends
- Competition & Major Companies
- Technology and R&D Status
- Porters Five Force Analysis
- Strategic and Critical Success Factor Analysis of Key Players
- North America
- US and Canada
- Latin America
- Mexico, Brazil, Argentina and Rest of Latin America
- Western Europe
- EU5 (Germany, France, Italy, Spain, U.K.)
- Nordic Countries (Denmark, Finland, Norway, and Sweden)
- Benelux (Belgium, The Netherlands, and Luxembourg)
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific
- Middle East and Africa
- GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
- South Africa
- North Africa
- Rest of Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
- Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
- Consumer and Pricing Analysis
- Market dynamics of the industry
- Market Segmentation
- Estimated Market Sizing in terms of volume and value
- Recent trends in Market and impact
- Research Status and Technology Overview
- Extensive Industry Structure Coverage