Market Size of Thailand Snack Bar Industry
| 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 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 | ||||
| ||||
| Energy Bar | ||||
| Other Snack Bars |
| Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Convenience/Grocery Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
Thailand Snack Bar Market Size Summary
The Thai snack bar industry is experiencing notable growth, driven by an increasing consumer preference for nutritious and convenient food options. Snack bars are increasingly being used as substitutes for traditional breakfast items, with manufacturers offering a variety of tailored products that combine health benefits with appealing flavors. The rising health consciousness among consumers has led to a surge in demand for high-protein snacks, which are seen as ideal for those balancing busy lifestyles with dietary needs. The market is further bolstered by the expansion of retail channels, including the growth of online shopping, which provides consumers with easy access to a wide range of snack bar options. This trend is supported by the increasing use of mobile devices and the internet, making it easier for consumers to purchase these products from the comfort of their homes.
The competitive landscape of the Thai snack bar market is characterized by the presence of numerous international brands that offer innovative products in various flavors and formats. Companies like Nestlé, Kellogg Co., and others are focusing on product innovation and strategic distribution to capture a larger market share. The market is also seeing a shift towards e-commerce, with many brands offering direct-to-consumer sales to bypass intermediaries and reduce costs. This has led to increased sales, as consumers are drawn to the convenience and often lower prices available online. The introduction of new products, such as those by General Mills and RXBAR, highlights the ongoing innovation in the sector, catering to the growing demand for health-oriented snacks with enhanced nutritional profiles.
Thailand Snack Bar Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Product Type
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2.1.1 Cereal Bar
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2.1.1.1 Granola/Muesli Bars
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2.1.1.2 Other Cereal Bars
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2.1.2 Energy Bar
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2.1.3 Other Snack Bars
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2.2 Distribution Channel
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2.2.1 Supermarkets/Hypermarkets
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2.2.2 Convenience/Grocery Stores
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2.2.3 Online Retail Stores
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2.2.4 Other Distribution Channels
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Thailand Snack Bar Market Size 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.
