The global snack bars market size is projected to reach USD 31.60 billion
by 2025 expanding at a CAGR of 6.64% from 2019 to 2025, according to a new
report by Grand View Research, Inc. Changing consumer lifestyles and food
patterns are expected to drive the demand for convenient food products, such as
snacks bar. The richness of fiber and iron in granola/muesli bars has made it
the dominant product segment of the global market. Whereas, increasing
awareness about the health benefits offered by energy and nutrition bars lists
it as the fastest-growing product segment.
Supermarkets/hypermarkets hold the dominant
market share as these stores have a variety of products at discounted prices.
However, the online distribution channel is projected to emerge as the
fastest-growing segment over the forecast period. Developed countries, such as
U.S, Japan, and China, have well-established markets for healthy snack bars. On the
other hand, emerging countries like India can offer new growth opportunities
for the global market. Increasing population and awareness regarding health and
fitness programs is also likely to boost the market.
Business expansions and product launches
are the major strategies adopted by key companies in this market. For instance,
a Russian company called Bio Food Lab will expand its business in emerging
countries of APAC. Kellogg’s launched special K-bars. Availability of
substitutes of these nutritious foods in the market may have a negative impact
on the market growth. North America is the dominant regional market followed by
Europe.
Asia Pacific is said to be the
fastest-growing region due to rising popularity of sports as career option and
increasing disposable income and number of nuclear families in the region.
Companies such as Quaker Oats, Kellogg’s, Nature Valley have a prominent share
in the market Manufactures are focusing upon improving a variety of snack bars.
The merger of KIND Bars with Mars; a prominent player in the market, has
increased its presence of these products to drive the product variety in the
market.
Access
Research Report of Snack Bars Market@ https://www.grandviewresearch.com/industry-analysis/snack-bars-market
Further key findings from the study suggest:
· North America led the global snack bars
market in 2018. The region is said to maintain its dominance over the forecast
years due to the strong presence of prominent companies
· Asia Pacific it is expected to witness the
fastest market growth from 2019 to 2025 due to increasing health consciousness
and product awareness in emerging economies like India
· The industry is highly competitive. Key
companies including Nature Valley, Kellogg’s, Alpen And Jordan, Quaker Oats,
Kind Bars, Cliff Bars, Earnest Eats, Mars, Oriole Healthy Foods, And the Hain
Celestial Group
Grand View Research has segmented the
global snack bars market on the basis of product, distribution channel, and
region:
Snack Bars Product Outlook (Revenue, USD
Billion, 2015 - 2025)
·
Breakfast
·
Granola/Muesli
·
Fruit
·
Energy and Nutrition
·
Others
Snack Bars Distribution Channel Outlook
(Revenue, USD Billion, 2015 - 2025)
·
Supermarkets/Hypermarket
·
Convenience Stores
·
Online
Snack Bars Regional Outlook (Revenue, USD
Billion, 2015 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More Information: www.grandviewresearch.com
