Increasing health and fitness leadingto healthy Snack bars must be oneof themainfactorsstimulating the market growth. The highnutritional value of these products is also expected to increase their demand in the coming years.The growing popularity of products such as instant bar snacks, which can replace high-calorie products suchas chocolates, cakes and cookies, is expected to continue to drive the market. Snack bar replaces heavy meals and is a healthy snack available in small packs.
The busy lifestyle and the higher number of nuclear families in developed regions aredriving the growth of the market. The increase in obesitycases is also likely to contribute to the rapid surge of the market.Additionally, consumer preference for nutritious and smaller foods increases demand for the product, as these bars contain less sugar and provide high levels of fiber, protein, and other nutrients.
COVID-19 Impact analysis
- Due to lockdown, people are more focusing on maintaining healthy lifestyle and majorly concerns are over medical issues such as obesity, food sensitivity, and others. Hence, with the rise in health and wellness awareness among the population, the demand for healthy food has increased substantially.
- Forced shutdowns globally leading to a constant storage of food and beverage products on the shelves, including salty snacks, which end up increasing the consumption of salty snacks. As consumers eat more at home during the shutdown and buy more food online, food, beverage and logistics companies have changed their operations.
- Additionally, the pandemic has forced companies in the global transportation and logistics industries to face economic stress due to cash flows, labour shortages, fewer contracts and other problems, which has resulted to the reduction of salaries for employees and a serious drop in world trade volume.
Top Impacting Factors
- Over the past of few years, there has been an increase in number of health-conscious customers across the world. Individuals are involved in adopting a healthy and a lively lifestyle, which has increased the demand for health-oriented food products. Healthy lifestyle is becoming a traditional way of life that majorly has concerns over obesity, food sensitivity, and other people suffering from diseases still rise.
- In today’s world, the younger generation is consistently gaining interest in nutritious food which is actually booming the demand for sports and nutrition. The concept of healthy food is comparatively new for Indian consumers, but with the gradual increase in its awareness and availability, so the savory industry has witnessed a high rate of growth.
- There is an increase in demand for extra shelves for the visibility and accessibility to consumer in the retail stores. This is expected to drive the growth of the global market. Also the attractive packaging and discounts offered by these retail stores are expected to contribute to the growth of the segment.
Rising Demand for healthy and tasty snacks
In today's world, the younger generation is consistently gaining interest in those foods which are rich in nutrients and taste better than diet food. So, the concept of healthy food is comparatively facing a gradual increase in its awareness and availability, and due to this food industry especially Snack Bars Market has witnessed a high rate of growth.
Over the past of few years, there has been an increase in number of health-conscious customers across the world. Individuals are involved in adopting a healthy and a lively lifestyle, which has increased the demand for health-oriented food products. Thus, this snacks acts as an equivalent supplement of the meals for the youngsters. Healthy lifestyle is becoming a traditional way of life that majorly has concerns over obesity, food sensitivity, and other people suffering from diseases still rise.
Surge in the market of Convenience food
The growing health consciousness has led people to consume a diet filled with nutrients, and that too with convenience. Thus, the marketplace for ready meals are anticipated to grow within the years to return. Consumers within some regions are more focused on easy and quick meals than other heavy meals. Thus, the rising adoption of changing lifestyle and healthy eating has led the market to grow moderately. Similarly, there has been a gentle increase in consumption and production of various convenience products, including Snack bars market, and it is anticipated that the multi-decade trend of growth will continue within the near future. The success of technology is boosting these market too. As, these are easily manufactured and supplied.
Thus, the revenue has stabilized with the expansion in demand, which successively, has aided within the market growth.Hence, Digitalization is enabling the health monitoring of Snacks Bars, which is further contributing to improve the food supply. The Snack Bars processing sector has been expanding at a pace, and is generating significant demand for healthier products in near future.
Key Benefits of the Report
- This study presents the analytical depiction of the SNACK BARS Industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the SNACK BARS Market share.
- The current market is quantitatively analyzed to highlight the SNACK BARS Market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed SNACK BARS Market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the Report
- Which are the leading players active in the SNACK BARS Market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "SNACK BARS” Market prediction in the future?
- Which will be the niches at which players profiling with recent advancements should set a presence?
- What are the driving factors and opportunities in the market?
- What are the current trends and predicted trends?
- What are the challenges faced in the "SNACK BARS” Market?
Snack Bars Market Report Highlights
By Product Outlook
By Distribution Channel Outlook
Key Market Players
HERSHEY, KIND, CLIF BAR, DOVE, FERRERO, NESTLE, MARS, QUAKER, LU, KASHI