Industry Insights
Snack bars work as heavy meal replacement and a quick, healthy snack food. Busy lifestyles and higher number of nuclear families in developed regions is boosting the market growth. Increasing cases of obesity is also likely to contribute to the market development. Furthermore, consumer preference for smaller and nutritional food is augmenting the product demand as these bars have less sugar and provide high fiber content, protein, and other nutrition.
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.
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Moreover, filling of fruits, nuts, and cereals in these bars attracts health conscious consumers, which in turn helps fuel market growth. The availability of snack bars serving every purpose such as energy, workout, diet, meal, nutrition is expected to drive in more consumer acceptance, thereby supporting the growth of the global market.
Growing popularity of sports and athletic activities along with busy lifestyle, increasing health consciousness, and changing food preferences is forcing manufacturers to introduce products with newer flavors and ingredients. For instance KIND bars have a wide range of products starting from two-in-one flavors-chocolate and strawberry pressed bars, strawberry fruit bites, sweet & spicy bars, etc.
Product Insights
The growth is attributed to the increasing participation in physical activities and sports. Considering the growing demand for these bars, manufacturers are focusing on introducing a variety of products in this category. For instance, Yoga Bar offers a wide base of energy and protein bars with different ingredients, such as multigrain, oats, and chocolate with nuts.
Distribution Channel Insights
The online channel is expected to be the fastest-growing segment as people now a days focus more on the convenience of buying things instead of going out at stores and collecting it. Development status of regional countries and the popularity of online platforms also support the segment growth. Moreover, these platforms allow comparison between various brands and their product prices, which is further projected to drive the segment.
Regional Insights
Asia Pacific is the fastest-growing region with India contributing to a major share in the market. Rising disposable income levels and health concerns along with improving living standards are expected to support the market growth in this region.
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Report Scope
| Attribute | Details |
| Base year for estimation | 2018 |
| Actual estimates/Historical data | 2015 - 2017 |
| Forecast period | 2019 - 2025 |
| Market representation | Revenue in USD Billion and CAGR from 2019 to 2025 |
| Regional scope | North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
| Country scope | U.S., U.K, India, Brazil, and UAE |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors and trends |
| 15% free customization scope (equivalent to 5 analyst working days) | If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization |
