Market Trends of South Korea Snack Bar Industry
This section covers the major market trends shaping the South Korea Snack Bar Market according to our research experts:
Increasing Number of Health and Fitness Centers
The rise of sports nutrition, along with the emergence of health clubs and gyms, is the result of an increasing emphasis on staying healthy and in shape, which are the key trends contributing toward the growth of the snack bar market in South Korea. In recent years, health clubs and fitness centers witnessed consistent growth in memberships due to increasing health concerns and changes in lifestyles. A rise in health awareness and the need for adequate nutritional content in food fostered the demand for sports nutrition products.
Impulse Purchase Boosting Snack Bar Sales
Snack bars are consumed mostly as a treat, and impulse purchasing behaviors are driving retail sales. Product pricing, discounts, and packaging attract consumers for impulse purchasing. Snack bars are also considered as a treat, driving impulse buying. Supermarkets/hypermarkets dominate the distribution channel sales with a significant share in the snack bar market. The sales of specialty stores offering health and wellness-oriented snack bars with multiple brands have grown by XX%, during the past five years. The expanding retail chain in the country provides a potential growth opportunity for the market studied.
