Snack Bars Market in the US by Product, Distribution Channel, and Geography - Forecast and Analysis 2020-2024
- Published: Feb 2020
- Pages: 135
- SKU: IRTNTR41135
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The snack bars market size in the US has the potential to grow by $ 806.08 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period because of the steady increase in the year-over-year growth.
This report provides a detailed analysis of the United States snack bar market by product (energy and nutrition bars, granola bars, breakfast bars, and other snack bars) and distribution channel (offline distribution and online distribution). Also, 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., and The Hershey Co.
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Market Competitive Analysis
The snack bars market in the US is fragmented, and the degree of fragmentation will decrease during the forecast period. Mondelez International Inc., PepsiCo Inc., Quest Nutrition LLC, The Hain Celestial Group Inc., and The Hershey Co. are some of the major market participants. Although the new product launches will offer immense growth opportunities, the rising competition from alternatives will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this snack bars market forecast in US report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this snack bars market analysis in US report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, 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.
Snack Bars Market in the US: Segmentation by Product
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Energy and nutrition bars accounted for the largest snack bars market share in the US in 2019. New product launches and product innovations will significantly influence snack bars market growth in this segment.
54% of the market’s growth will originate from the energy and nutrition bars segment during the forecast period. Market growth in this segment will be slower than the growth of the market in the granola bars segment.
Snack Bars Market in the US: Segmentation by Channel
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The expansion of supermarket and hypermarket chains, discount stores, convenience stores, independent retailers, and vending machines will enhance the accessibility of customers and boost the offline distribution segment.
However, market growth in the offline distribution channel segment will be slower than the growth of the market in the online distribution segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the snack bars market size in the US.
Snack Bars Market in the US: Key Drivers and Trends
- The increase in number of new product launches will be instrumental in the snack bars market growth in the US.
- In May 2019, KIND launched its KIND Frozen bars in the US, made of almonds, dark chocolate, and sea salt.
- That’s It launched a new line of probiotic fruit bars containing 2 billion CFU of Bacillus coagulans GBI-30 6086 per serving, available in three different flavors.
- Clif Bar also launched two new energy bars and a granola bar. Clif Fruit Smoothie filled Energy Bars are a USADA-certified organic range of energy bars, and Clif Sweet & Salty Energy Bars are made using ingredients like caramel and sea salt.
- The convenience offered by snack bars and their rising popularity as meal replacement is leading to a surge in demand, with several new products being launched in the market in recent years.
The rising demand for on-the-go breakfast options is one of the major trends positively influencing the growth of the snack bars market in the US. The changing lifestyle of consumers is contributing to the growth of snack bars as a breakfast option. Time-pressured 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. To meet this rising demand, vendors are offering breakfast snack bars. The growing popularity of these breakfast snack bars will help propel the snack bars market growth in US during the forecast period.
Snack Bars Market in the US: Key Highlights of the Report for the Forecast Period 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive the United States snack bar market growth during the next five years
- Precise estimation of the size of the snack bars market in the US and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the snack bar market across the 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 the snack bars market in the US
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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.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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