Market Trends of snack bar Industry
The rising trend of convenient and healthy on-the-go options, along with the increasing number of fitness enthusiasts, remains the major factor for the market’s growth
- Snack bars are largely consumed across developed countries in North America and Europe. In North America, snack bars are highly preferred among working professionals as a replacement for oil-based snacks.
- In the snack bar segment, brand loyalty acquires the first position under product attributes. In North America, it was observed that 43% of consumers chose snack bars of their preferred brands. In Europe, snack bar consumers sought bars that could offer new sensory experiences, especially in shape and texture.
- The fluctuation in the product price is connected with the rise and fall in raw material prices, including cereals, grains, sugar, and others. In North America, in 2023, the average selling prices of cereal bars, protein bars, and fruit and nut bars were USD 6.54, USD 9.36, and USD 7.48, respectively.
- With the availability of snack bars in different flavors, they are enjoyed as a healthy treat by the younger generation. In Europe, consumers are increasingly turning to snack bars such as cereal bars, protein bars, and fruit & nut bars as a perceived healthier option.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Inclusion of superfood into the snack bar are driving the segment sales in the market
