About This Report

Snack Bar Market, by Product Type (Energy Bar, Cereal Bar, and Others), by Distribution Channel (Online Channel, Hypermarket/Supermarket, Convenience Stores, Specialist Retailer, and Others), and by Region (North America, South America, Europe, Asia Pacific, The Middle East, and Africa) - Size, Share, COVID Impact Analysis, Growth, Outlook, and Opportunity Analysis, 2020 - 2028

A snack bar is a type of eatery that specialises in serving a selection of snacks, light meals and drinks. Individuals can stop by here to grab a quick snack or beverage, typically during their meals. Snack bars can be found in a variety of locations, including sports facilities, airports, shopping malls, movie theatres, and other public gathering areas. They are often smaller and more informal than restaurants and cafés. Along with freshly prepared foods like sandwiches, salads, and baked goods, they frequently provide a variety of pre-packaged snacks like chips, candy, and nuts.
Additionally, a variety of hot and cold drinks, such as coffee, tea, soda, and fruit juices, may be offered at snack bars. Though certain snack bars may focus on particular sorts of snacks, such health foods or vegan alternatives, others may offer a wide selection that suits a variety of tastes and dietary needs.
In 2020, the Snack Bar market was valued at US$ YY million, and it is anticipated to be around US$ YY million by 2027. Over the forecast period, the market is expected to grow at a CAGR of YY%.

Changing consumer preferences, and busy life styles are the drivers while, high competition is a restraint

Consumers are looking more and more for nutrient-dense, portable, and convenient healthy snack options. Particularly among younger buyers, organic, non-GMO, gluten-free, and vegan snack bars are becoming more and more popular. For instance, KIND Snacks is a business that has successfully capitalised on this trend by providing wholesome, nutrient-dense snack bars made from whole ingredients. Adding to this, in a survey conducted by the International Food Information Council (IFIC), it was discovered that 85% of participants admitted to snacking every day, with 45% reporting doing so twice daily. The most popular snack choices, according to the survey, were fruit, snack bars, and yoghurt.

Moreover, Snack bars offer consumers an easy and quick way to get energy as busy lifestyles and on-the-go eating habits increase. Youngsters in particular are driving up demand for portable and simple-to-eat snacks because they prefer them to regular meals. For instance, the protein bar company RXBAR contributes to the hectic lifestyle of its target market by providing protein bars built from basic and natural ingredients. Governments and organisations have taken action to stimulate the creation and promotion of healthy and practical snack options in response to the impact that busy schedules have on food choices. For instance, The US Food and Drug Administration (FDA) has put laws in place to make sure that snack bars adhere to certain nutritional requirements, such as the number of calories, fat, and sugar they contain. This aims to give people healthier snack options that they can grab on their own.
However, there are numerous well-established players in the snack bar market, which is very competitive. As a result, it is challenging for new competitors to establish themselves and increase their market share. For instance, it might be difficult for new brands to enter and flourish in the protein bar industry because of the dominance of a few large companies like Quest Nutrition, KIND Snacks, and RXBAR.

Hypermarket is expected to account for significant market share by distribution channel segment

The global Snack Bar market is mainly classified based on Product Type, and Distribution Channel. Based on the product type, the market is segmented into energy bar, cereal bar, and others. On the basis of distribution channel, the market is classified into online channel, hypermarket/supermarket, convenience stores, specialist retailer, and others.
On the basis of distribution channel, hypermarket/supermarket is expected to hold the major market share globally due to their extensive selection of snacks and convenient location for customers. These retail chains often have spacious floor plans and provide a selection of snack bars from different brands at affordable rates, making it simpler for customers to make judgements about what to buy. In order to boost their market share and reach a larger audience, certain major players in the snack bar business have also been extending their presence in supermarkets and hypermarkets. For instance, KIND Snacks, a significant player in the market for snack bars, has increased its presence in retail establishments throughout the world, including hypermarkets and supermarkets. Additionally, supermarkets and hypermarkets have been investing in their online presence in order to accommodate customers who want to purchase online as e-commerce and online shopping have grown in popularity. Due to this, a variety of online grocery stores that sell snack bars have emerged, making it even easier for customers to access these goods.

Interesting Facts of Snack Bar Market

• Based on the product type, energy bar holds the largest market share globally. Protein bars and nutrition bars are the next most popular types of snack bars after energy bars.
• Snack bars are most popular in North America, where the growth of the market has been mostly driven by the US. But in the next years, the Asia Pacific area is anticipated to experience the highest growth rate due to the rising need for convenient and healthful snack options.
• The demand for vegan and plant-based snack bars is increasing rapidly, as consumers become more health-conscious and environmentally aware.
• More people are working from home and are looking for snacks that are simple to prepare and eat, which has increased the trend towards healthy and practical snack options due to the COVID-19 pandemic. The demand for snack bars has increased as a result of the pandemic.
• KIND Snacks, Clif Bar & Company, General Mills, Inc., Kellogg Company, and Nestle S.A. are some of the market's top competitors for snack bars. To meet shifting consumer demands and maintain market competitiveness, these businesses constantly innovate and release new items.

North America will account for the largest share of the Snack Bar industry

North America is the largest market for snack bars, with the United States being the major contributor to the market growth. Busy lifestyles, rising desire for healthy and practical snack options, and the accessibility of a wide selection of products through various distribution channels, such as supermarkets and online retailers, are the main drivers of the snack bar market in North America. Major companies including Kellogg Company, General Mills, and Clif Bar & Company dominate the snack bar market in the United States. To meet shifting consumer tastes, these businesses constantly innovate and release new items. For instance, in 2020, Clif Bar & Company unveiled a new line of energy bars built with organic ingredients, while KIND Snacks debuted a new range of frozen snack bars.

The American government has taken action to encourage a healthy diet, lessen the prevalence of obesity, and address related medical issues. For instance, the Smart Snacks in School programme, created by the U.S. Department of Agriculture (USDA), establishes nutritional requirements for snacks and drinks sold in schools. Snacks sold to kids must comply with the program's requirements, which include having low fat, sugar, and sodium content.

Global Snack Bar Market key Players:

Some of the major competitors in the global Snack Bar market include Associated British Foods, Abbott Laboratories Inc, Clif Bar & Company, Natural Balance Foods, Nature’s Bounty Inc., Hero Group, Kind LLC, Kellogg’s, PepsiCo Inc., Post Holdings Inc., General Mills Inc., and Nestle SA.
The Snack Bar is extremely competitive with aggressive market strategies of global and regional companies looking to strengthen market position through new product launches and facility expansions. The following are some recent market developments:

• Nestlé introduced a new line of organic snack bars under its Garden of Life brand in February 2021. The bars are non-GMO, gluten-free, and created with organic, genuine food ingredients.
• KIND Snacks announced its foray into the energy bar industry in March 2021 with the introduction of KIND Energy Bars. Whole grains, nuts, and seeds are used to make the bars, which offer lasting energy.
• Primal Nutrition, LLC, a producer of protein bars and other snacks produced with natural food ingredients, was acquired by Kellogg Company in May 2021, according to an announcement. The acquisition is anticipated to increase Kellogg's market share in the snacking sector.
• Clif Bar & Company made the announcement about the launch of a new manufacturing plant in Twin Falls, Idaho, in March 2021. The facility is anticipated to boost the business's capability for production and assist its expansion plans in the market for snack bars.
• Using pea protein, RXBAR, a Kellogg Company subsidiary, introduced a new range of plant-based protein bars in December 2020. The bars provide 10 grammes of protein per serving and are vegan and gluten-free.

Frequently asked questions about global Snack Bar market

Q: What is the current size of the global Snack Bar market?
Ans: The Snack Bar market was valued at YY million US$ in 2020 and is projected to reach YY million US$ by 2027, at a CAGR of YY% during the forecast period.

Q: What is the major opportunity in Snack Bar industry?
Ans: Increasing demand for healthy and convenient snack options is the major opportunity.

Q: What are the major growth driving factors for Snack Bar industry?
Ans: Busy lifestyles and on-the-go eating habits are the major growth driving factors.

Q: Which region is expected to have the largest share of the Snack Bar market?
Ans: North America region is expected to have the largest share of the Snack Bar market.

Q: Which distribution channel segment will dominate the Snack Bar market?
Ans: Hypermarket distribution channel segment will dominate the Snack Bar market.