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Global Snack Bars Market to Grow at a CAGR of 4.6% During 2021-2026, Aided by the Rising Demand for Healthy Snack Bars

According to a new report by EMR titled, ‘Global Snack Bars Market Report and Forecast 2021-2026’, the market is expected to grow at a CAGR of 4.6% in the forecast period of 2021-2026.

North America holds a significant share of the snack bars industry owing to the growing demand for convenience food products in the region. Moreover, the surging health-consciousness owing to the rising prevalence of health-related issues such as obesity in the United States and Canada is propelling the market growth of snack bars. Furthermore, the development of various innovative snack bars offering numerous health benefits is augmenting the industry growth. In addition, the growing demand for on-the-go convenient snacks owing to the hectic lifestyle of the working population is increasing the demand for snack bars, which is invigorating the industry growth, hence significantly contributing to the market growth.

Nestlé S.A. (SWX: NESN), one of the leading companies in the market, launched a new range of YES! snack bars in July 2020. Each bar contains 10 grams of plant protein from a natural combination of peas and nuts. The company launched the product in the wake of recent research that inferred that the demand for natural protein sources with no additives is surging. The YES! Bar carries 10 grams of plant protein to provide energy to the consumers on-the-go. The bars are made of wholesome ingredients and contain no artificial colours or preservatives. They are high in fibre, are gluten-free, and are suitable for vegetarians. It also provides a diverse choice to consumers looking for innovative plant-based protein. The product is expected to be available in two flavours in sustainable packaging. The development of such products is expected to augment the market growth.

Market Analysis by Product Type, Distribution Channel, and Region:

  • The market, on the basis of product type, can be divided into cereal bars and energy bars, among others.
  • The distribution channels for snack bars include supermarkets/hypermarkets, convenience stores, speciality stores, and online, among others.
  • The regional markets for snack bars include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The rising demand for whole-grain snack bars owing to the surging health consciousness is aiding the market growth.
  • The market is being driven by the rising demand for protein-based snack bars due to the growing popularity of various food-related trends that has resulted from immense prevalence of social media, consequently surging the inclination towards protein-based snacks.
  • The development of innovative snack bars with diverse flavours to appeal to evolving consumer preferences is augmenting the industry growth.
  • The expansion of distribution channels is surging the accessibility of snack bars, which is fuelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global snack bars market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the product types, distribution channels, and regions of snack bars.
  • It assesses the regional price trends for the (2016-2020) and (2021-2026) periods. 
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global market for snack bars are Kellogg Company, Nestlé S.A., PepsiCo, Inc., Associated British Foods PLC, General Mills Inc., and Clif Bar & Company, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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