Snack Bars Market To Hit Value $31.60 Billion By 2025 |Grand View Research, Inc.



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.
Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. The demand for frozen food products, fruits & vegetables, eggs, flour, and whole grains, among others, witnessed a considerable increase during the early stages of the crisis. Presently, most companies in the industry are faced with low consumption of their products and supply chain challenges. The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. The changes in consumer buying behavior and the dynamic shifts towards online and D2C distribution channels may have serious implications on the near future growth of the industry. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
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 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.
To Request Sample Copy of this report, click the link:
https://www.grandviewresearch.com/industry-analysis/snack-bars-market/request/rs4
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
The global snack bars market size was estimated at USD 20.15 billion in 2018 and is expected to grow at CAGR of 6.64% from 2019 to 2025. Rising awareness about health and fitness and resultant preference for healthy snack products is likely to be among the key factors boosting the market growth. High nutrition value of these products is also expected to augment their demand over the years to come. Increasing product popularity as go-to snacks, which can replace high calorie content products like chocolates, cakes, and cookies is further projected to propel the market.
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.
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.
Granola/muesli bars accounted for the highest share of 28.90% of the global market. These snack bars are considered as a healthy alternative to chocolates, cakes, cookies, etc. High fruit content and gluten-free ingredients of these bars are driving their demand across the globe. Nutrition and energy bars are expected to witness a moderate growth over the forecast years.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-snack-bars-market
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.
Grand View Research has segmented the global snack bars market on the basis of product, distribution channel:
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
Supermarkets/hypermarkets held the majority of the market share in 2018. With the development of organized retail sector, shelf spacing is increasing which is expected to provide larger visibility and accessibility of consumer products. This is expected to drive the growth of the global market. Attractive box packaging and discounts offered by these stores are also expected to contribute to the segment growth.
Key companies in the market are Nature Valley, Kellogg’s, Alpen And Jordan, Quaker Oats, Kind Bars, Cliff Bars, Earnest Eats, Mars, Oriole Healthy Foods, And the Hain Celestial Group. Many of these prominent manufacturers are from North America.
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.




Comments

Post a Comment

Popular posts from this blog

Foot Orthotic Insoles Market 2026: What Will Be Changes In Investment Ratio With Opportunity Analysis?? |Grand View Research, Inc.

Image
The global foot orthotic insoles market size is expected to reach USD 5.5 billion by 2026 , according to a new report by Grand View Research, Inc., exhibiting a 6.3% CAGR during the forecast period. Growing incidence of diabetes and plantar fasciitis are expected to drive the market over the forecast period. Moreover, rapid urbanization and increasing disposable income are anticipated to propel growth in future. Technological advancements, spurred by ongoing investments in R&D, are expected to increase growth potential in the coming years. Moreover, rise in geriatric population, which is susceptible to orthopedic disorders, is impelling product demand globally. For instance, in 2017 as per the U.S. Census Bureau, the number of people aged 65 or older increased by 1.6 million from 2014 to 2015. In addition, increasing incidence of sports injuries and rising prevalence of osteosarcoma in the region has led to the need for various orthotics devices, which is expected to drive ...
Read more

A Look into Smokehouse Industry……Deep Analysis…..

Image
The global smokehouse market size is anticipated to reach USD 157.2 million by 2025 , according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 2.2% during the forecast period. Rising need for a healthy lifestyle has led consumers to prefer griller or barbequed food over fried food and other kinds of fast food. This trend is expected to have a positive impact on the market growth. The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution ...
Read more

A Look into Shapewear Industry……Deep Analysis…..

Image
The global shapewear market size is expected to reach USD 3.80 billion by 2025 registering a CAGR of 7.7%, according to a new report by Grand View Research, Inc. The introduction of various products according to the type of garments is expected to support the market growth in the years to come. Growing target population across the globe is also augmenting the market growth. Changing lifestyle incurs increased investment in fitness and related accessories, which has positively impacted the market growth. The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe,...
Read more