Market Trends of us snack bar Industry
Growing consumer preferences toward on-the-go healthy alternatives resulted in higher sales
- As of 2023, more than 90% of consumers in the United States consumed snacks. Among snack bars, cereal bars are the favorite snack bar category among most consumers, constituting more than 50% of the snack bar category in 2023. Working consumers with busy schedules and fitness enthusiasts are the notable demographic for the snack bar market in the United States.
- Convenience/portability and nutrition (notably protein content) are important universal purchase criteria for snack bars. Also, more customers are looking for bar options with smaller portion sizes, such as minis and bites. This offers a calorie-controlled, healthier option for satisfying, sweet snacking.
- In North America, in 2023, the retail price of a snack bar was USD 5.54. However, the inflation in the prices of ingredients impacted the price of the snack bar. For instance, the retail prices of ingredients like sugar, oats, and cereal ranged from USD 3 to USD 5 per kilogram in 2023.
- In 2022, the top motivations to choose snack bars were that they were healthy (59%), convenient (51%), and that consumers needed protein (49%). Health-conscious consumers enjoy cereal bars and other snack bars with healthy ingredients to get an energy boost in the gym or to have a quick but healthy treat during the day.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Inclusion of functional ingredients is boosting demand for snack bars in the country
