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

Industry Insights

The global snack bars market size was estimated at USD 20.15 billion in 2018 and is expected to grow at CAGR of 6.64% from 2019 to 2025. Rising awareness about health and fitness and resultant preference for healthy snack products is likely to be among the key factors boosting the market growth. High nutrition value of these products is also expected to augment their demand over the years to come. Increasing product popularity as go-to snacks, which can replace high calorie content products like chocolates, cakes, and cookies is further projected to propel the market.

Snack bars work as heavy meal replacement and a quick, healthy snack food. Busy lifestyles and higher number of nuclear families in developed regions is boosting the market growth. Increasing cases of obesity is also likely to contribute to the market development. Furthermore, consumer preference for smaller and nutritional food is augmenting the product demand as these bars have less sugar and provide high fiber content, protein, and other nutrition.

Moreover, filling of fruits, nuts, and cereals in these bars attracts health conscious consumers, which in turn helps fuel market growth. The availability of snack bars serving every purpose such as energy, workout, diet, meal, nutrition is expected to drive in more consumer acceptance, thereby supporting the growth of the global market.

Growing popularity of sports and athletic activities along with busy lifestyle, increasing health consciousness, and changing food preferences is forcing manufacturers to introduce products with newer flavors and ingredients. For instance KIND bars have a wide range of products starting from two-in-one flavors-chocolate and strawberry pressed bars, strawberry fruit bites, sweet & spicy bars, etc.

Product Insights

Granola/muesli bars accounted for the highest share of 28.90% of the global market. These snack bars are considered as a healthy alternative to chocolates, cakes, cookies, etc. High fruit content and gluten-free ingredients of these bars are driving their demand across the globe. Nutrition and energy bars are expected to witness a moderate growth over the forecast years.

The growth is attributed to the increasing participation in physical activities and sports. Considering the growing demand for these bars, manufacturers are focusing on introducing a variety of products in this category. For instance, Yoga Bar offers a wide base of energy and protein bars with different ingredients, such as multigrain, oats, and chocolate with nuts.

Distribution Channel Insights

Supermarkets/hypermarkets held the majority of the market share in 2018. With the development of organized retail sector, shelf spacing is increasing which is expected to provide larger visibility and accessibility of consumer products. This is expected to drive the growth of the global market. Attractive box packaging and discounts offered by these stores are also expected to contribute to the segment growth.

The online channel is expected to be the fastest-growing segment as people now a days focus more on the convenience of buying things instead of going out at stores and collecting it. Development status of regional countries and the popularity of online platforms also support the segment growth. Moreover, these platforms allow comparison between various brands and their product prices, which is further projected to drive the segment.

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.

Snack Bars Market Share Insights

Key companies in the market are Nature Valley, Kellogg’s, Alpen And Jordan, Quaker Oats, Kind Bars, Cliff Bars, Earnest Eats, Mars, Oriole Healthy Foods, And the Hain Celestial Group. Many of these prominent manufacturers are from North America.

Report Scope

Segments Covered in the Report

This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Grand View Research has segmented the global snack bars market report on the basis of product, distribution channel, and region:

• Product Outlook (Revenue, USD Billion, 2015 - 2025)

  • Breakfast

  • Granola/Muesli

  • Fruit

  • Energy and Nutrition

  • Others

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)

  • Supermarkets/Hypermarket

  • Convenience Stores

  • Online

• 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