Asia-Pacific Snack Bar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Asia-Pacific snack bar market is segmented by Product Type (Cereal bars, Energy bars, and Other Snack Bars); by Distribution Channel (Supermarket/Hypermarket, Convenience Store, Specialty Stores, Online Stores, Others ), and by Geography (China, India, Japan, Australia and Rest of Asia-Pacific). The report offers market size and forecasts in value terms in USD million for all above segments.

APAC Snack Bar Industry Overview

snack bar market
Study Period: 2018 - 2028
CAGR: 5.06 %

Major Players

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*Disclaimer: Major Players sorted in no particular order

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APAC Snack Bar Market Analysis

Asia-Pacific snack bar market is projected to grow at a CAGR of 5.06% during the forecasted period (2022- 2027).

During the COVID-19 outbreak, snack bars has observed a decent growth in terms of revenue generation. Due to restrictions on goods movement and the closure of store outlets, the snack bar sector suffered a reduction in demand in the first few months. Customers were entitled to stay indoors, therefore snacking became popular, especially among the adult and younger population. People were "buying in bulk" snack foods to avoid unexpected hunger. As a result of which, demand for snack bars that are rich in protein, vitamins, and nutrients was surged, giving consumers on-the-go nourishment while munching.

Due to the significant presence of the youth and working consumers having hectic lifestyle in emerging countries, the consumption of snack bars has expanded in recent years in countries such as India, China, and Japan. Because of their numerous health benefits, natural and healthy convenience foods are in high demand.

Moreover, increased demand for vegan snack bars is likely to boost the market. Consumers who lead a vegan lifestyle avoid any animal by-product and other conventional sources of protein. With the increasing demand for vegan lifestyle, consumers are getting more keen on packaged meals with vegan characteristics, such as granola and cereal bars. 

APAC Snack Bar Industry Segments

Snack bars are supplementary dietary or nutritional bars made of a mixture of cereals, oats, and other ingredients for instant energy. Asia-Pacific snack bar market is segmented by product type, distribution channel, and geography. By product type, the market is segmented into cereal bars, energy bars, and other snack bars. In terms of distribution channels it is categorized into supermarket/hypermarket, convenience stores, specialty stores, online stores, others. By Geography, the market is segmented into China, India, Japan, Australia and the Rest of Asia-pacific.The report offers market size and forecasts in value terms in USD million for all above segments.

By Product Type
Cereal Bars
Granola/Muesli Bars
Other Cereal Bars
Energy Bars
Other Snack Bars
By Distribution Channel
Supermarket/Hypermarket
Convenience Store
Specialty Stores
Online Stores
Other Distribution Channel
Geography
India
China
Japan
Australia
Rest of Asia-Pacific

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APAC Snack Bar Market Trends

This section covers the major market trends shaping the APAC Snack Bar Market according to our research experts:

Rising awareness about the nutritional benefits of snack bar

The Asia Pacific snack bar market's expansion is being fueled by a growing awareness of snack bars' nutritional benefits. Snack bars are a type of functional food that has a good balance of protein, fibre, carbohydrate, and fat. As a result, snack bars have become a popular choice for people who want to lose weight, improve muscle mass, or boost their energy levels. These nutritional snack bars have introduced superfoods such as flax seeds, pumpkin seeds, Quinoa, Oats, and others, resulting in a wide selection of healthy eating options. Many people are turning to "better-for-you" snack bars as a quick and easy way to receive essential nutrients, vitamins, and antioxidants, as well as boost their immune and gain energy.

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Granola/Muesli Bars Dominates the Market

There is a significant demand for natural healthy snacks, such as granola/muesli bars, as they are perceived as being a more natural alternative traditional snack bars. In Japan, the convenience of granola bars meets the needs of an increasing number of Japanese consumers who lead busy lifestyles, and are looking for quick solutions for their diets. The concept of granola bars is still relatively new in India, as consumers do not purchase these for breakfast purposes, but rather as a healthier version of a chocolate bar. As granola bars contain nutrients like proteins and fibre, the rise in health consciousness among the consumers supports the growth of granola bar market in Asia-Pacific as a whole.

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APAC Snack Bar Market Competitor Analysis

The Asia-Pacific snack bar market is competitive, with various local and foreign businesses operating in the region. Kellogg Company, General Mills Inc., Nestle, and PepsiCo Inc. are among the market's leading companies. Manufacturers in the region have prioritized product innovation and new product releases as a primary strategy. Localization is also a hot topic among local and regional manufacturers, with companies experimenting with novel ways to cater to local preferences.

APAC Snack Bar Market Top Players

  1. General Mills Inc.

  2. PepsiCo Inc.

  3. Nestle S.A.

  4. Post Holdings, Inc.

  5. The Kellogg's Company

*Disclaimer: Major Players sorted in no particular order

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APAC Snack Bar Market Recent Developments

In 2021, Altimate Nutrition is the first firm in Singapore to develop insect-based human meals. Cricket protein is transformed into a palatable and nutritious source of protein by Altimate Nutrition. They set out to make cricket protein bars by combining nutritious foods with a variety of other ingredients.

In 2021, Mondelez India, announced that it foray into the exciting snack bar category, with the launch of new Cadbury Fuse Fit with peanuts and almonds that make for 50 percent of the bar.

In 2021, KIND has debuted its sanck bar ranges in Australia. The newly launched snack bar range includes Dark Chocolate Nuts & Sea Salt, Caramel Almond & Sea Salt, Peanut Butter Dark Chocolate and more.

APAC Snack Bar Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Cereal Bars

        1. 5.1.1.1 Granola/Muesli Bars

        2. 5.1.1.2 Other Cereal Bars

      2. 5.1.2 Energy Bars

      3. 5.1.3 Other Snack Bars

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarket/Hypermarket

      2. 5.2.2 Convenience Store

      3. 5.2.3 Specialty Stores

      4. 5.2.4 Online Stores

      5. 5.2.5 Other Distribution Channel

    3. 5.3 Geography

      1. 5.3.1 India

      2. 5.3.2 China

      3. 5.3.3 Japan

      4. 5.3.4 Australia

      5. 5.3.5 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Active Companies

    3. 6.3 Most Adopted Strategy

    4. 6.4 Company Profiles

      1. 6.4.1 The Kellogg's Company

      2. 6.4.2 General Mills Inc.

      3. 6.4.3 Nestle S.A.

      4. 6.4.4 PepsiCo Inc.

      5. 6.4.5 Clif Bar & Company

      6. 6.4.6 Mars Inc.

      7. 6.4.7 Abbott Laboratories

      8. 6.4.8 Kind LLC

      9. 6.4.9 Clif Bar & Company

      10. 6.4.10 ASAP Bar

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability
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APAC Snack Bar Market Research FAQs

The Asia-Pacific Snack Bar Market is studied from 2018 - 2028.

The Asia-Pacific Snack Bar Market is growing at a CAGR of 5.06% over the next 5 years.

General Mills Inc., PepsiCo Inc., Nestle S.A., Post Holdings, Inc., The Kellogg's Company are the major companies operating in Asia-Pacific Snack Bar Market.

Asia-Pacific Snack Bar Industry Reports

In-depth industry statistics and market share insights of the Asia-Pacific Snack Bar sector for 2020, 2021, and 2022. The Asia-Pacific Snack Bar research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Asia-Pacific Snack Bar report PDF.

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