The latest research study “Snack Bar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global snack bar market size reached US$ 24.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 33.2 Billion by 2027, exhibiting a growth rate (CAGR) of 5.65% during 2022-2027.
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Snack bars are small, nutritious, lightweight, high-calorie, and condensed rectangular bars that are easy to carry and consumed to gain quick energy and protein. They comprise nuts, fruit extracts, jaggery, mixed grains, almonds, coconut, cereals, millet, and corn or honey syrup. They are slightly savory in taste, gluten-free, rich in iron, protein and dietary fiber, and consist of bioactive compounds. These bars are widely available in various flavors, such as red berry, orange, brownie, beet, spirulina, and peanut butter. As a result, snack bars are widely consumed as a meal replacement or an instant snack across the globe.
COVID-19Impact on Market: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Snack Bar Market Trends and Drivers:
The market is primarily driven by the increasing health awareness among individuals and growing inclination toward healthy and convenient snacking options. In addition, the rising prevalence of obesity and other lifestyle diseases are prompting individuals to participate in athletic and sports activities, which are contributing to market growth.
Moreover, aggressive promotion campaigns conducted by several key players, coupled with heavy investments in collaborations with prominent sports and media personalities, are escalating the product demand across the globe. Apart from this, the introduction of new innovative flavors and ingredients, along with their easy accessibility across online and offline organized retail channels, are providing a positive thrust to the market growth.
Moreover, leading market players are launching snack bars prepared with vegan ingredients with little or no sugar, which is positively influencing the market growth.
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|Snack Bar Market Report Scope|
|Market size value in 2021||US$ 24.0 Billion|
|Market forecast in 2027||US$ 33.2 Billion|
|Growth Rate||CAGR of 5.65% from 2022 to 2027|
|Base year for estimation||2021|
Global Snack Bar Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Abbott Laboratories, Associated British Foods plc, Clif Bar & Company, General Mills Inc., Halo Foods Ltd., Mars Incorporated, Nestlé S.A., Ocado Retail Limited, PepsiCo Inc., The Hain Celestial Group Inc., The Kellogg Company and The Simply Good Foods Company.
The report has segmented the market on the basis of region, product type, ingredient and distribution channel.
Breakup by Product Type:
- Cereal Bars
- Granola/Muesli Bars
- Energy and Nutrition Bars
Breakup by Ingredient:
- Whole Grains
- Dried Fruits
Market Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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