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Snack Bars Market in the US by Distribution Channel and Product - Forecast and Analysis 2020-2024

  • Published: Oct 2020
  • Pages: 120
  • SKU: IRTNTR41135
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The snack bars market share in US is expected to increase by USD 806.08 million from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 2%. This snack bars market in US research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. The snack bars market in US report also offers information on several market vendors, including Abbott Laboratories, Clif Bar & Co., General Mills Inc., Kellogg Co., KIND LLC, Mondelez International Inc., PepsiCo Inc., Quest Nutrition LLC, The Hain Celestial Group Inc., and The Hershey Co. among others. Furthermore, this report extensively covers snack bars market segmentation in US by product (energy and nutrition bars, granola bars, breakfast bars, and other snack bars) and distribution channel (offline distribution and online distribution).

What will the Snack Bars Market Size in US be During the Forecast Period?

Snack Bars Market Size

Download the Free Report Sample to Unlock the Snack Bars Market Size in US for the Forecast Period and Other Important Statistics

 

Snack Bars Market in US: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The new product launches is notably driving the snack bars market growth in US, although factors such as the product recalls may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the snack bars industry in US. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Snack Bars Market Driver in the US

One of the key factors driving growth is the new product launches. The increasing number of new product launches can influence the growth of the snack bars market in the US during the forecast period. The demand for snack bars is increasing in the country, owing to the convenience offered by snack bars and their rising popularity as a meal replacement. In May 2019, KIND launched its KIND Frozen bars in the US. These frozen nut bars were made using almonds, dark chocolate, and sea salt. As per the company, these bars contain about 190 calories and 11 grams of sugar. In January 2019, That's it launched a new line of probiotic fruit bars containing 2 billion CFU of Bacillus coagulans GBI-30 6086 per serving. The new product line is available in three different flavors, namely mango, blueberry, and banana. Thus, the increasing number of new product launches will increase the demand for snack bars, which will help in the growth of the market during the forecast period.

Key Snack Bars Market Trend in the US

The rising demand for on-the-go breakfast options is a snack bars market trend in US that is expected to have appositive impact in the coming years. The increasing demand for on-the-go breakfast options among consumers can positively influence the growth of the snack bars market in the US during the forecast period. The number of consumers that prefer snack bars as a meal replacement option is increasing in the US and is expected to drive the growth of the market during the forecast period. The changing lifestyle of consumers is contributing to the growth of snack bars as a breakfast option. Time-pressed consumers are on the lookout for breakfast options that offer convenience as well as nutrition. Convenience and health benefits offered by snack bars are making them popular as an on-the-go breakfast option. Vendors are offering breakfast bars to meet the rising demand for snack bars as a breakfast option. KIND, Kellogg, and General Mills Inc. (General Mills) are some prominent vendors that offer breakfast snack bars in the market. Thus, the popularity of snack bars as a breakfast option among consumers will help in the growth of the snack bars market in the US during the forecast period.

Key Snack Bars Market Challenge in the US

The product recalls will be a major challenge for the snack bars market in US during the forecast period. An increasing number of product recalls can hinder the growth of the snack bars market in the US during the forecast period. Vendors can issue product recalls owing to various factors such as product contamination and incorrect labeling. Most manufacturers purchase or source raw materials from third-party suppliers. The improper handling of these raw materials or supplies can adversely affect the safety and quality of the finished products. A product recall severely affects a company's brand image as well as its operation and sales. The increasing number of product recalls due to product contamination can negatively influence the growth of the snack bars market in the US.

This snack bars market in US analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the snack bars market in US as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the snack bars market in US during the forecast period.

Who are the Major Snack Bars Market Vendors in US?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Abbott Laboratories
  • Clif Bar & Co.
  • General Mills Inc.
  • Kellogg Co.
  • KIND LLC
  • Mondelez International Inc.
  • PepsiCo Inc.
  • Quest Nutrition LLC
  • The Hain Celestial Group Inc.
  • The Hershey Co.

 

This statistical study of the snack bars market in US encompasses successful business strategies deployed by the key vendors. The snack bars market in US is fragmented and the vendors are deploying growth strategies such as focusing on product quality to compete in the market.

Product Insights and News

  • Abbott Laboratories - The company offers snacks bars such as ZonePerfect MACROS bars and Classic nutrition bars through its ZonePerfect brand.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The snack bars market in US forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Snack Bars Market in US Value Chain Analysis

Our report provides extensive information on the value chain analysis for the snack bars market in US, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the packaged foods and meats market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

What are the Revenue-generating Product Segments in the Snack Bars Market in US?

Snack Bars Market Market segmentation by region

To gain further insights on the market contribution of various segments Request for a FREE sample

The snack bars market share growth in US by the energy and nutrition bars segment will be significant during the forecast period. The growing demand for snack bars that offer functional benefits is expected to increase the demand for energy and nutrition bars among consumers during the forecast period. The popularity of energy bars as a post-workout snack among people who engage in workouts will help in the growth of the segment during the forecast period. The number of gym memberships is increasing in the US, and this will increase the demand for functional food and beverage products, such as energy and nutrition bars, in the country during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the snack bars market size in US and actionable market insights on post COVID-19 impact on each segment.

 

Snack Bars Market Scope in US 

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 2%

Market growth 2020-2024

$ 806.08 million

Market structure

Fragmented

YoY growth (%)

2.05

Regional analysis

US

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Abbott Laboratories, Clif Bar & Co., General Mills Inc., Kellogg Co., KIND LLC, Mondelez International Inc., PepsiCo Inc., Quest Nutrition LLC, The Hain Celestial Group Inc., and The Hershey Co.

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 the forecast period

Customization purview

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What are the Key Data Covered in this Snack Bars Market in US Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive snack bars market growth in US during the next five years
  • Precise estimation of the snack bars market size in US and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the snack bars industry in US
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of snack bars market vendors in US

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Value chain analysis
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2019
  • Market outlook
  • Market size and forecast 2019-2024

PART 05: FIVE FORCES ANALYSIS

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

PART 06: MARKET SEGMENTATION BY PRODUCT

  • Market segmentation by product
  • Comparison by product
  • Energy and nutrition bars - Market size and forecast 2019-2024
  • Granola bars - Market size and forecast 2019-2024
  • Breakfast bars - Market size and forecast 2019-2024
  • Other snack bars - Market size and forecast 2019-2024
  • Market opportunity by product

PART 07: CUSTOMER LANDSCAPE

PART 08: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL

  • Market segmentation by distribution channel
  • Comparison by distribution channel
  • Offline distribution - Market size and forecast 2019-2024
  • Online distribution - Market size and forecast 2019-2024
  • Market opportunity by distribution channel

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 11: MARKET TRENDS

  • Rising demand for on-the-go breakfast options
  • Increasing demand for plant-based snack bars
  • Growing popularity of private-label brands

PART 12: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 13: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Abbott Laboratories
  • Clif Bar & Co.
  • General Mills Inc.
  • Kellogg Co.
  • KIND LLC
  • Mondel?z International Inc.
  • PepsiCo Inc.
  • Quest Nutrition LLC
  • The Hain Celestial Group Inc.
  • The Hershey Co.

PART 14: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 15: EXPLORE TECHNAVIO

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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