The snack bars global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Snack Bars Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The snack bars market size has grown rapidly in recent years. It will grow from $23.85 billion in 2023 to $26.23 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to changed consumer lifestyles towards convenience, raised health consciousness, expanded retail presence in convenience stores and online platforms, and growth of nuclear families.
The snack bars market size is expected to see rapid growth in the next few years. It will grow to $38.94 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to growing awareness of health and wellness, rising demand for on-the-go nutrition, expanding distribution channels, and demand for dietary preferences and lifestyle needs. Major trends in the forecast period include healthy and functional ingredients, plant-based and vegan options, a focus on clean labels and transparency, a shift towards sustainability and eco-friendly packaging, and a rise in personalization and customization options.
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Scope Of Snack Bars Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Snack Bars Market Overview
Market Drivers –
The increasing health and wellness trends are expected to propel the growth of the snack bars market going forward. Health and wellness refer to the overall state of well-being, encompassing physical, mental, emotional, and social dimensions. There is a growing health and wellness trend due to several factors, including growing awareness of the importance of self-care and rising concerns about the impact of sedentary lifestyles on overall health. Snack bars provide convenient, portion-controlled options for maintaining energy levels and meeting nutritional needs in health-conscious lifestyles. Various snack bars are formulated with nutrient-dense ingredients to provide essential vitamins, minerals, fiber, and antioxidants that support overall health and well-being. For instance, in May 2022, according to the online survey of 1,005 Americans aging 18 to 80 conducted by the International Food Information Council, a US-based nonprofit organization, 52% of Americans reported that they followed a diet or eating pattern in 2022, which is a significant increase from the past few years (39% in 2021 and 43% in 2020). Therefore, increasing health and wellness trends are driving the growth of the snack bars market.
Market Trends –
Major companies operating in the snack bars market are focusing on providing innovative snack bars using high-protein ingredients, such as Solein, to gain a competitive edge in the market. Solein in snack bars is a protein-sourced ingredient from a natural, unaltered single-cell organism and is used as an ingredient to boost the protein content, despite its unconventional cultivation method. For instance, in January 2024, Fazer, a Finland-based food products company, launched the Fazer Taste the Future snack bar, a limited-edition snack bar featuring Solein, a groundbreaking protein derived from air and developed by Solar Foods. Fazer Taste the Future bar is vegan-friendly and palm oil-free, comprising 70% dark chocolate, hazelnut, dried strawberries, and crunchy oat puffs. With 2% Solein content, the bar provides a source of iron, addressing a common deficiency in plant-based diets.
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: Supermarkets Or Hypermarket, Convenience Stores, Online
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Regional Insights –
North America was the largest region in the snack bars market in 2023. 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.
Key Companies –
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
Table of Contents
1. Executive Summary
2. Snack Bars Market Report Structure
3. Snack Bars Market Trends And Strategies
4. Snack Bars Market – Macro Economic Scenario
5. Snack Bars Market Size And Growth
…..
27. Snack Bars Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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