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The snack bars market in US size is estimated to grow by USD 886.7 million at a CAGR of 2.17% between 2023 and 2028. Each snack bar is packed with essential vitamins, minerals, and proteins, derived from real fruits, nuts, and seeds. This innovative production process ensures maximum nutrient retention and a delicious, satisfying texture. These snack bars offer a quick, convenient solution for those on-the-go, without compromising on health. With a variety of flavors to choose from, including Apple Cinnamon, Dark Chocolate Almond, and Tropical Fruit, there's a snack bar for every taste preference. Experience the perfect blend of nutrition and convenience with our new snack bars.
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The market in the US is witnessing significant growth due to the increasing demand for nutrient-dense, portable, and high-calorie snacks. These snack bars cater to the needs of working professionals and the younger generation who seek convenient and quick energy boosters. Corn, honey syrup, and mixed grains are commonly used in the production of these bars. The market offers a wide range of flavors including Beet, Spirulina, Red berry, Orange, Brownie, Peanut butter, and Fruit extracts. These bars are popular among consumers for their light weight and portability, making them ideal for packed lunches, hiking, and outdoor activities. The market in the US is segmented into Convenience Stores and Online Retail Stores. The convenience store segment holds a larger market share due to its wide availability and easy accessibility. However, the online retail store segment is expected to grow at a faster rate due to the increasing trend of online shopping. These snack bars are rich in nutrients, dietary fibers, and high-calorie content, making them a preferred choice for consumers looking for instant snacks. The market is expected to continue its growth trajectory due to the increasing health consciousness among consumers and the growing popularity of natural and organic food products. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
New product launches is notably driving market growth. The market in the US is experiencing significant growth due to the increasing demand for nutritious and convenient food options. With longer travel times and hectic schedules, consumers are turning to snack bars as an instant energy source and a healthy alternative to sweets, cookies, cakes, and chocolates. These bars are rich in proteins, making them a supplemental protein source for fitness enthusiasts and health-conscious individuals. New product launches, such as Natural Balance Foods' Nakd Fruit and Fibre bars in February 2024, and Quaker Oats' Quaker Chewy Granola in October 2023, offer consumers a variety of flavors, including Apple and Cinnamon, Strawberry and Raspberry, and multigrain options. However, the market is subject to regulatory restrictions, and quality concerns persist due to the use of artificial sweeteners, hydrogenated fats, flavors, coloring agents, preservatives, and gluten-free ingredients. As a result, consumers are increasingly opting for snack bars with high fruit content, natural ingredients, and minimal processing. Packaging, including plastic, carton, and box packaging, also plays a crucial role in the market's growth. Overall, the snack bars market in the US is expected to continue growing, providing consumers with essential nutrition and a healthy substitute for traditional snack foods. Thus, such factors are driving the growth of the market during the forecast period.
Rising demand for on-the-go breakfast options is the key trend in the market. The snack bars market in the US is experiencing significant growth due to the increasing demand for nutritious, convenient breakfast options among time-strapped consumers. With longer travel times and hectic schedules, snack bars have become an instant energy source and a healthy alternative to traditional breakfast items such as sweets, cookies, cakes, and chocolates. These bars offer essential nutrition, including protein-rich options that serve as supplemental protein for those who prefer not to consume protein powders or protein shakes. The market is driven by health-conscious consumers who seek convenient and nutritious alternatives to processed foods, such as those containing artificial sweeteners, hydrogenated fats, flavors, coloring agents, and preservatives. Snack bars are available in various flavors and packaging options, including plastic, carton, and box packaging, making them a popular choice for consumers. Multivitamin bars and those with high fruit content and gluten-free ingredients have gained popularity as a healthy substitute for breakfast. Brands such as Yoga Bar, Multigrain, Oats, and Chocolate with nuts offer a range of options for consumers looking for a quick and nutritious breakfast. The quality-restrictive regulatory environment in the US ensures that these bars meet specific health and safety standards, further increasing consumer confidence in the market. Thus, such trends will shape the growth of the market during the forecast period.
Product recalls is the major challenge that affects the growth of the market. In the US market, snack bars have gained popularity as a convenient and nutritious alternative to traditional sweets such as cookies, cakes, and chocolates. With longer travel times and hectic schedules, consumers are increasingly seeking instant energy sources that provide essential nutrition. Nutritious bars, including protein-rich and multivitamin varieties, have become a staple for health-conscious individuals, particularly those who frequent health clubs and gyms. However, the snack bars market faces challenges due to a quality-restrictive regulatory environment. The use of artificial sweeteners, hydrogenated fats, flavors, coloring agents, and preservatives in some bars can have harmful health effects. As a result, consumers are increasingly demanding snack bars made with natural ingredients, high fruit content, and gluten-free ingredients. Product recalls due to contamination or incorrect labeling can also hinder market growth, as seen with the recent recall of Built Brands' Banana Cream Pie Puffs protein bar. Manufacturers must ensure the proper handling of raw materials and supplies to maintain product safety and quality, preserving their brand image and sales. Snack bars are packaged in various formats, including plastic, carton, and box packaging, and are sold in hypermarkets and other retail outlets as a healthy substitute for sweets. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories - The company offers GLUCERNA snack bars which is designed to be a snack replacement and have protein to help in hunger management.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The energy and nutrition bars segment is estimated to witness significant growth during the market forecast period. In today's fast-paced world, longer travel times and hectic schedules have led to an increased demand for nutritious and convenient snack options. Snack bars have emerged as a popular choice for health-conscious consumers seeking instant energy and essential nutrition.
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The energy and nutrition bars segment accounted for USD 3.96 billion in 2018. These bars come in various forms, including protein-rich bars, multivitamin bars, and energy bars made with fruits, nuts, and gluten-free ingredients. Protein bars serve as a supplemental source of protein, often used in place of protein powders and shakes. However, the quality-restrictive regulatory environment has led to scrutiny over the use of artificial sweeteners, hydrogenated fats, flavors, coloring agents, and preservatives in snack bars. As a result, many consumers are turning to bars with natural ingredients and high fruit content as a healthier alternative to sweets, cookies, cakes, and chocolates. Companies are responding by offering a wide range of packaging options, including plastic, carton, and box packaging, to cater to consumer preferences. Yoga bars, multigrain, and oats bars are also gaining popularity due to their natural ingredients and energy-boosting properties. Overall, snack bars offer a convenient and nutritious solution for individuals looking to maintain a healthy lifestyle amidst their busy schedules.
The market report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
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The market in the US is witnessing significant growth due to the increasing preference for nutrient-dense, portable, and lightweight food options. These bars cater to various food preferences, including vegan, gluten-free, and plant-based diets. The market offers a wide range of snack bars, from those made with corn and honey syrup to those infused with beet, spirulina, orange, peanut butter, brownie, red berries, and various flavor components. Cereals and fruits are common ingredients, providing beneficial nutrients and dietary fiber. Protein bars, as dietary supplements, are popular among fitness-conscious groups, athletes, and individuals engaging in heavy-duty work or weightlifting. These bars help maintain energy levels during fitness activities and muscle building. The market includes various types of protein bars, such as vegan snack bars, smaller portions, and ready-to-eat protein sources. The snack bars market in the US is driven by the growing demand for healthy meal options and the convenience they offer for packed lunches and outdoor activities like hiking. The market is expected to continue its growth trajectory due to the increasing awareness of the importance of protein consumption and the diverse range of flavors and ingredients available.
Market Scope |
|
Report Coverage |
Details |
Page number |
140 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.17% |
Market growth 2024-2028 |
USD 886.7 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.11 |
Regional analysis |
US |
Performing market contribution |
North America at 100% |
Key countries |
US and North America |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Caveman Foods, Clif Bar and Co., Element Snacks Inc, General Mills Inc., Kellogg Co., Kroger Co., Mars Inc., McKee Foods, Natural Balance Foods, Nestle SA, NuGo Nutrition, PepsiCo Inc., Post Holdings Inc., PROBAR LLC, Quest Nutrition LLC, Soylent Nutrition Inc., The Hain Celestial Group Inc., The Hershey Co., and Walmart Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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