Thailand Snack Bar Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 32.26 Million |
| Market Size (2029) | USD 41.68 Million |
| CAGR (2024 - 2029) | 5.26 % |
| Market Concentration | Low |
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*Disclaimer: Major Players sorted in no particular order |
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Thailand Snack Bar Market Analysis
The Thailand Snack Bar Market size is estimated at USD 32.26 million in 2024, and is expected to reach USD 41.68 million by 2029, growing at a CAGR of 5.26% during the forecast period (2024-2029).
Snack bars are being consumed as replacements for breakfast bars. Snack bar-producing companies are offering several tailor-made products, which are not only nutritious and beneficial for health but also appetizing.
The increased demand for high-protein snacks due to the growing health awareness among consumers is the key driver for the market. Expanding retail channels with growing online retailing and on-the-go breakfast options are other factors fueling the snack bar market's growth.
Increased pressure from work-life balance and unhealthy diets among the Thai population surged the demand for sports nutrition products that supplement the diet. A snack bar, such as an energy bar, is an ideal combination of nutrition and on-the-go snacks. The above-mentioned factors are likely to drive market growth.
Additionally, snack bars are frequently consumed in the market as an on-the-go snack and sometimes as a meal replacement based on the nutritional profile of the product. Owing to the demand, manufacturers are offering snack bars infused with grains, dried fruits and nuts that enhance the nutritional profile of the product.
Thailand Snack Bar Market Trends
The Growing Fitness Trend Among Population is Boosting the Market Studied
The growing fitness wave and gym-going population have fueled the growth of the energy bar market. Snacking on multiple occasions between meals while traveling, ease of carrying, and intact nutrition have driven the demand for snack bars. Convenience-related claims are increasingly becoming popular in health and wellness products, thus encouraging sales of a variety of snack bars. Customers are urged to choose snack bars with grains, nuts, and other nutritious elements that provide the nutrition on the move due to the nutritional benefits of the various ingredients used in snack bars. Moreover, protein-based snack bars with fiber and enhanced protein content are commonly preferred by consumers with health-conscious and fitness enthusiasts in the country. This inclination towards health-based snacks resulting increasing demand for protein-based snack bars in the country.
Online Retail is Accelerating Sales
There is strong growth in online shopping in the country due to convenience and various offers attracting consumers. Thai consumers have become more tech-savvy, which is further driving online sales. Rapid growth in mobile penetration, internet speed, and the growing economy have supported internet retailing in Thailand. Multiple brands are available in online shopping, offering ease to consumers as well as lower-cost management to companies. Products offered in online retail places are priced slightly less resulting in consumers' inclination towards buying products through e-commerce websites. Companies operating in the country are offering online services to avoid market intermediaries and to reach consumers directly. Manufacturers tend to offer bulk units at affordable prices to encourage consumers to more purchases. In addition, more companies operating in the country are focusing on offering products over online retail chains, resulting in increased sales of snack bars in Thailand.
Thailand Snack Bar Industry Overview
The Thai snack bar market is competitive, with a large number of international players occupying a significant share in the market. Foreign brands comprise innovative products in various flavors and varieties compared to domestic brands. Focus on the distribution channel and product innovations are the key strategies adopted by players to maximize sales. Some of the major players in the Thai snack bar market are Anna Thai Snack All, Nestlé SA, Kellogg Co., and Chicago Bar Company LLC, among others.
Thailand Snack Bar Market Leaders
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Nestlé S.A.
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Kellogg Co.
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The Quaker Oats Company
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General Mills
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RXBAR
*Disclaimer: Major Players sorted in no particular order
Thailand Snack Bar Market News
- June 2021: General Mills Inc. introduced Good Measure, a new brand of snacks. Good Measure was launched with two products that include Creamy Nut Butter Bars and Crunchy Almond Crisps that are sweetened with allulose. The bars feature a blend of nuts, nut butter, seeds, and either dark chocolate or blueberries and come in blueberry almond, peanut dark chocolate, and almond dark chocolate varieties. The almond crisps come in sriracha and cheddar flavors. The snacks contain fewer than 5 grams of net carbs and 3 grams of sugar per serving.
- February 2021: Kellogg's launched Keto-friendly Snack Bars, which are available in two flavors, Chocolate Almond Fudge and Peanut Butter Fudge, with 1g of sugar and 2g of net carbs.
- July 2020: RXBAR launched two new flavors in Thailand and other parts of the world, Banana Chocolate Walnut and Peanut Butter & Berries. Made with simple ingredients, each bar is packed with 12 grams of protein and is gluten-free.
Thailand Snack Bar Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Product Type
- 5.1.1 Cereal Bar
- 5.1.1.1 Granola/Muesli Bars
- 5.1.1.2 Other Cereal Bars
- 5.1.2 Energy Bar
- 5.1.3 Other Snack Bars
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5.2 Distribution Channel
- 5.2.1 Supermarkets/Hypermarkets
- 5.2.2 Convenience/Grocery Stores
- 5.2.3 Online Retail Stores
- 5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Anna Thai Snack All
- 6.3.2 Nestle SA
- 6.3.3 Kellogg Co.
- 6.3.4 Chicago Bar Company LLC
- 6.3.5 The Quaker Oats Company
- 6.3.6 Nugo Nutrition
- 6.3.7 Bright Food (Group) Co.
- 6.3.8 Hershey (OhYeah! Nutrition)
- 6.3.9 Associated British Foods PLC
- 6.3.10 General Mills
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ABOUT US
** Subject To AvailablityThailand Snack Bar Industry Segmentation
Snack bars are made up of cereals such as wheat, barley, etc. Snack bars are produced by pressing the grains with nuts, berries, and other ingredients. They bind with glucose syrups and contain low caloric content. These are meal alternatives as they provide essential nutrients such as iron, starch, fiber, proteins, antioxidants, phosphorus, and potassium. The Thai snack bar market is segmented by product type and distribution channel. On the basis of product type, the market is segmented into cereal bars, energy bars, and other snack bars. Furthermore, the cereal bar segment has been sub-segmented into granola/muesli bars and other cereal bars. On the basis of distribution channels, the market is segmented into supermarkets/hypermarkets, convenience stores, specialist retailers, online retail, and other distribution channels. The report offers the market size and forecasts in value (USD) for all the above segments.
| Product Type | Cereal Bar | Granola/Muesli Bars |
| Other Cereal Bars | ||
| Product Type | Energy Bar | |
| Other Snack Bars | ||
| Distribution Channel | Supermarkets/Hypermarkets | |
| Convenience/Grocery Stores | ||
| Online Retail Stores | ||
| Other Distribution Channels |
Thailand Snack Bar Market Research FAQs
How big is the Thailand Snack Bar Market?
The Thailand Snack Bar Market size is expected to reach USD 32.26 million in 2024 and grow at a CAGR of 5.26% to reach USD 41.68 million by 2029.
What is the current Thailand Snack Bar Market size?
In 2024, the Thailand Snack Bar Market size is expected to reach USD 32.26 million.
Who are the key players in Thailand Snack Bar Market?
Nestlé S.A., Kellogg Co., The Quaker Oats Company, General Mills and RXBAR are the major companies operating in the Thailand Snack Bar Market.
What years does this Thailand Snack Bar Market cover, and what was the market size in 2023?
In 2023, the Thailand Snack Bar Market size was estimated at USD 30.65 million. The report covers the Thailand Snack Bar Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thailand Snack Bar Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thai Snack Bar Industry Report
Statistics for the 2024 Thai Snack Bar market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thai Snack Bar analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
