Global Snack Bars Market Overview:
Snack bars are a popular option these days for consumers who prefer an on-the-go breakfast and for those who would be interested in portable and convenient snacking options. There are various products available as snack bars such as breakfast bars, energy bars, fruit bars, granola, nutritional bars and others. Among all the available options, granola bars account for the highest sales with more than two-third market share followed by cereal bars. Newly available fruit bars utilize fruit as binder and sweetener agent, enabling the snack bars to make no added sugar claims, which resonate with an increasingly sugar-wary consumer.
Browse TOC and other details of 142 pages Global Snack Bars Market Research Report @ https://www.researchcosmos.com/reports/global-snack-bars-market-trends-competitive-dynamics-and-key-growth-opportunities-2015-to-2023/442620101
Global Snack Bars Market Drivers and Restraints:
Consumers preference is in protein-rich healthy ingredients, in particular, ingredients such as coconut oil, super fruits, whole grains and partially hydrogenated oils. As a result, snack bars containing organic whey protein have emerged. There is an increase in the use of plant-based protein sources like soy, rice pea, and hemp. The overall rise in the trend of snacking between meals makes snack bars an extremely viable option. Snack bars with fortified functional ingredients are about to see notable demand. These snack bars are the inexpensive source of nutrition which has resulted in the replacement of other traditional foods.
Global Snack Bars Market Size and Share Analysis:
The global snack bar market is estimated to rise at a CAGR of 6.5% till 2023. The market is divided into North America, Europe, Asia Pacific and the rest of the world. The US remains the largest market for snack bars with the highest sales accounting for 42% of the overall sales. Asia- Pacific has witnessed a strong growth over the past few years on account of increasing household income. Japan and the UK are the other significant markets accounting for a 35% of the market share.
Some of the Major Players in Global Snack Bars Market:
The global snack bar market is a fragmented market consisting of many small and large players worldwide. Some major players in this market are Clif Bar, Concord Foods, Fiber One, Nature Valley, Quaker, Nakd Foods, General Mills, Kind Snacks, etc.
The rising demand for ready-to-eat (RTE) food is expected to be a major factor in influencing snack bar market growth in near future. Hectic lifestyle of the working middle-class population has increased the consumption of cereal bars as snacks between meals. Snack bars manufacturers are introducing the health aspect into their products regarding the protein and fibre content. Ample availability of substitute nutritional foods is expected to hinder the market growth. However, snack bars are known to be functional, low-carb, and protein fortified snacks that offer satiety.
Research Cosmos is a provider of standard and customized Industry research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending Industry reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.
Company Name: Research Cosmos
Contact Person: Kevin Stewart
Email: Send Email
Address:4390 U.S 1, Suite 211
State: New Jersey
Country: United States