What Has Been the Growth of the Snack Bars Market So Far?
The snack bars market has seen considerable growth due to a variety of factors.
• The market size for snack bars has experienced accelerated growth in the past few years. The projection is that it will rise from $26.23 billion in 2024 to $29.02 billion in 2025, with a compound annual growth rate (CAGR) of 10.6%.
The remarkable growth in the historical period is credited to factors such as a shift in consumer habits towards convenience, increased awareness of health, an increase in retail availability in convenience stores and online platforms, and the expansion of nuclear families.
How Will the Snack Bars Market?
The snack bars market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of snack bars is projected to witness substantial growth in the coming years. The market is predicted to rise to $42.99 billion by 2029, growing at a compound annual growth rate of 10.3%.
The expansion during this period is attributed to increasing awareness about health and wellness, surging demand for convenient nutrition, broader distribution channels, and the need for tailored dietary and lifestyle preferences. Prevailing trends for the period include wholesome and functional ingredients, options for plant-based and vegan eating, emphasis on transparent labels, a move towards environmentally-friendly packaging and sustainability, and an upsurge in customized and personalized options.
Which Factors Are Boosting Growth In The Snack Bars Market?
The surge in health and wellness movements is anticipated to fuel the snack bars market's expansion in the future. Health and wellness encompass the total state of well-being, which includes physical, mental, emotional, and social aspects. The escalating health and wellness phenomenon is being driven by several factors, including the heightened awareness surrounding the significance of self-care and growing apprehension about sedentary lifestyles impacting general health. Snack bars provide a handy, portion-controlled method for preserving energy levels and fulfilling nutritional needs of health-aware individuals. Numerous snack bars incorporate ingredients packed with nutrients to provide the necessary vitamins, minerals, fiber, and antioxidants for overall health and wellness. For instance, according to a May 2022 online survey of 1,005 Americans between 18 to 80 years old by the International Food Information Council, a non-profit organization based in the US, it was reported that 52% of Americans adhered to a specific diet or eating routine in 2022, which represents a notable increase in comparison to previous years. Thus, the rise in health and wellness trends are fueling the growth of the snack bars market.
What Key Areas Define The Segmentation Of The Global Snack Bars Market?
The snack bars market covered in this report is segmented –
1) By Product: Breakfast, Granola Or Muesli, Fruit, Energy And Nutrition, Other Products
2) By Packaging: Plastic, Carton, Box
3) By Distribution Channel: Super markets Or Hyper market, Convenience Stores, Online
Subsegments:
1) By Breakfast: Oatmeal Bars, Cereal Bars, Protein Breakfast Bars, Granola Or Muesli
2) By Granola Or Muesli: Granola Bars, Muesli Bars, Oat And Nut Bars
3) By Fruit: Dried Fruit Bars, Fruit And Nut Bars, Fruit-Based Snack Bars
4) By Energy And Nutrition: High-Protein Bars, Pre-Workout Energy Bars, Post-Workout Recovery Bars, Meal Replacement Bars
5) By Other Products: Vegan Snack Bars, Gluten-Free Bars, Low-Sugar Or Keto Bars
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Which Emerging Market Trends Are Altering The Snack Bars Industry?
Key players in the snack bars market are focusing on providing novel products made with high-protein ingredients - one such being Solein - in order to achieve a competitive advantage in the market. Solein, an unmodified single-cell organism, offers an unconventional source of protein for snack bars. For instance, Fazer, a food products company based in Finland, broke new ground in January 2024 with the unveiling of the Fazer Taste the Future snack bar. This limited-edition bar features Solein, an innovative protein made from air by Solar Foods. The Fazer Taste the Future bar is both vegan-friendly and free of palm oil, containing 70% dark chocolate, hazelnut, dried strawberries, and crunchy oat puffs. With a 2% Solein content, the bar is also a source of iron - countering a common shortfall in plant-based diets.
Who Are the Key Players In The Snack Bars Market?
Major companies operating in the snack bars market report are:
• Nestle SA
• PepsiCo Inc.
• Mars Incorporated
• Abbott Nutrition
• Mondelez International
• Associated British Foods PLC
• The Kellogg Company
• Amway Corp.
• Glanbia Plc.
• Post Holdings Inc.
• KIND LLC
• General Mills Inc.
• Ocado Retail Limited
• The Bountiful Company
• GNC Holdings Inc.
• The Hain Celestial Group Inc.
• The Simply Good Foods Company
• MadeGood
• Enjoy Life Foods
• Halo Foods
• Purely Elizabeth
• PROBAR
• Square Organics
• Oatmega Bar
• SquareBar
What Is The Most Dominant Region In The Snack Bars Market?
North America was the largest region in the snack bars market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the snack bars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
