Global Snack Bars Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Snack Bars Market Overview :

“The global Snack Bars Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The snack bars market report has been segmented on the basis of type, distribution channel, and region.This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analysed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.

With the changing snacking trends of consumer’s, market players have now come up with snack bars. There are different kind of snack bars such as energy and nutrition bars, granola bars, and breakfast bars. Energy and nutrition bars are referred to supplemental bars which contain cereals and other high energy foods for the consumers who have a busy schedule.

Granola, a breakfast food and snack food consists of rolled oats, nuts, honey or other sweeteners such as brown sugar, and sometimes puffed rice, that is usually baked until it is crisp, toasted and golden brown. Whereas, Breakfast bars are soft-baked with a crispy texture outside and made with a five super grain blend for sustained morning energy and a serving of whole grains.

The snack bars appear to be in high demand globally, owing to factors such as demand for high-protein snack bars from health conscious individuals across the globe. Consumer groups such as millennials and baby boomers are consumers of high of protein snack bars. Consumers’ daily snacking habits demand for protein and fibre ingredients, which they look for in snack bars. These are major factors driving growth of the global market. In addition, rising demand for vegan snack bars is another factor expected to drive the market. Consumers who lead a vegan lifestyle opt for healthy substitutes for meat, dairy and other conventional sources of protein.

With the increasing vegan culture, packaged foods like granola bars that have vegan specifications are becoming increasingly popular among consumers. Thus, players are coming up with more varieties of vegan snack bars such as earnest eats vegan chewy granola bars, oriole gluten free organic vegan granola bar, and more. Market players use protein and fibre formulations in their snack bars to capture the consumer attention. Moreover, increasing trend for organic food is expected to support growth of the global market.

The market in North America is expected to dominate the global snack bars market owing to living standards coupled with high disposable income. The market in Asia Pacific is expected to register a highest CAGR in the forecoming years. Snack bars are considered trending options for consumers who prefer on-the-go breakfast and portable and convenient snacking options.

Global Snack Bars Market Segmentation:

Segmentation on the basis of type:

• Energy and nutrition bars
• Granola bars
• Breakfast bars

Segmentation on the basis of distribution channel:

• Retail stores
• Department store
• Super market
• Hypermarket
• E commerce

Segmentation on the basis of region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa