Summary - A new market study, titled “Global Snack Bar Market -
2018 - 2025” has been featured on WiseGuyReports
Summary
Snack bars are lightweight, easy to carry snack food which is popular because of its nutritious and high-calorie content. They are often combined with honey or corn syrup and are condensed to form a bar which makes it easy to carry for packed lunches, hiking or other outdoor activities. The popularity of organic packaged foods among the consumers of US is increasing, as they prefer food products that do not contain artificial ingredients. This has increased the demand for organic snack bars. Moreover, the rapid expansion of hypermarkets and availability of snacks bar will play an important role in the growth of global snacks bar market.
The global snack bar market was worth USD XX million in 2017 and is forecasted to reach USD XX million by 2025, growing at a CAGR of XX% during the forecast period (2017-2025).
Market Dynamics:
The major growth driver for the snack bar market is the increased demand for
the on-the-go food, owing to the busier lifestyles. The increased awareness
among consumers about healthy eating has also increased the demand for snack
bars, replacing chocolates, cakes, and biscuits as the go-to snacks.
The major market restraints include the high initial investment in technology,
brand marketing and regulatory compliance regarding quality and labeling.
Key market drivers include –
● Increased demand for on-the-go food
● Awareness of health and nutrition
Key market restraints include –
● High initial investments and marketing costs.
Market Segmentation:
The snack bar market is segmented by the product type and the ingredients.
Based on the product type, the market is segmented into Granola bars, Protein
bars, Breakfast bars and others. Currently, protein bars are the dominant
segment and account for the major share of the market. The growing awareness
towards the need for healthy and nutritious food trends has increased the
consumers to prefer nutrition and protein bars. The consumption of the protein
bars is expected to rise among the aged, as they started preferring food
products that can provide energy and higher nutrition benefits. The increasing
health consciousness and raising awareness about various diseases and
digestives problems are expected to increase the demand for granola bars. Granola
bars are gluten-free and are easily digestible, which makes them a better
alternative than another type of food bars. Also, several major market players
are focused on promoting new flavored granola bars, which is expected to
increase the demand granola bars
Based on the ingredients included, the market is segmented into whole grains,
nuts, dried fruits and others.
Global Snack Bar Market - Geographical Analysis
The global snack bar market is segmented into North America, Europe, Asia
Pacific, South America and RoW. North America is the largest market for the
snack bar accounting for the major share of the snack food market. The high
awareness among consumers about the benefits of granola and protein bars is
driving the snack bar market in North America. However, in the some of the
developing and under-developed countries, the lack of awareness of the health
benefits of snack bars hinders the growth of the snack bar market.
Competitive Analysis:
The snack bar market is highly competitive due to the presence of numerous
vendors. The increasing demand for healthy and convenient alternatives is
driving more new players into the market. Most of the key players are highly
focused on diversifying their products. For instance, in January 2017, Kellogg
added 50 new breakfast and protein bars to its product portfolio.
Few of the key market players in the global snack bar market are:
• The Kellogg Company
• Clif Bar & Company General Mills
• KIND
• Quaker Oats Company
• Mars, Inc.
• Nestle S.A.
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/3791932-global-snack-bar-market-2018-2025
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