Snack Bars Market Reaching A Value Worth USD 31.60 Billion By 2025: Grand View Research,Inc.

July 15 20:12 2019
Snack Bars Market Reaching A Value Worth USD 31.60 Billion By 2025: Grand View Research,Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research,Changing consumer lifestyles and food patterns are expected to drive the demand for convenient food products, such as snacks bar market.

According to a report, “Snack Bars Market Size, Share & Trends Analysis Report By Product (Breakfast, Energy & Nutrition, Granola/Muesli, Fruit), By Distribution Channel (Convenience Store, Online, Super/Hypermarket), And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc.,

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 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.

U.S. 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

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.

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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.

Regional Insights

In terms of market share, North America holds a dominant position followed by Europe. Higher number of health conscious people and their changing lifestyles are the factors boosting the product demand. Availability of a variety of flavors and trend of consuming smaller and frequent meals due to hectic lifestyle are further expected to boost the regional market. 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.

Global snack bars market

Browse Related Report: 

  • Bottled Water Market – Growing consumer awareness regarding health benefits of consuming bottled water is projected to drive the market over the forecast period. Moreover, increase in per capita spending and rapid urbanization are also likely to fuel product demand over the forecast period.
  • North America Baby Food Market – Rising urbanization and changing lifestyles are propelling demand for packaged baby foods in North America. Concerns related to food safety, stringent regulations, falling birth rates, and practice of feeding home-cooked food to babies are among the key restraints.

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

    • U.S

  • Europe

    • U.K.

  • Asia Pacific

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa

    • UAE

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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