Market Trends of Australia Snack Bar Industry
This section covers the major market trends shaping the Australia Snack Bar Market according to our research experts:
Demand for Clean Label and Free-From Snacking Products
- Consumer demand for healthy, free-from-snacking, and on-the-go snack options has been the primary reason for the sales of snack bars in the country. Due to the adverse effects of unhealthy eating habits and changing lifestyles, consumers all over Australia have become more interested in non-GMO foods. This increase in demand is also leading to a rise in the consumption of snack bars, which is expected to drive the market under study.
- Additionally, there has been an increase in the number of people with diabetes in Australia. According to the National Health Survey, there were approximately 1.3 million cases of diabetes in Australia during the 2021 fiscal year. Therefore, snack bar players have various opportunities within the reduced sugar, functional food ingredients, savory spins, and plant protein categories. Due to the availability of snack bars for a wide range of tastes, the demand for these products has significantly increased in Australia.
- For instance, in July 2021, Australian Firm Nuzest launched a multivitamin snack bar in Australia, New Zealand, and Singapore. The Good Green Vitality snack bar contains a combination of 75 vitamins, minerals, probiotics, fiber, and other essential nutrients, along with the Good Green Vitality supplement powder, which provides support for digestion, immunity, cognition, energy, and stress.
Understand The Key Trends Shaping This Market
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Rising Preference for Sports Bars and Cereal Bars as On-the-Go Snacks
- The demand for innovative snacks like cereal and sports bars in Australia is continually rising. Additionally, a seamless distribution system for these snacks to customers is required, allowing for simple usage, convenient access, and effective product storage. The latest trend of on-the-go snacks is intently connected with the ease of use and handling of products, which healthy nutritious bars provide. The rise in the number of Australians' participation in sports and other recreational activities is also boosting the demand for sports and cereal bars.
- According to data published by Clearinghouse for Sports, in 2020-21, 88.8% of adults [over the age of 15] participated in sport or physical activity, with 55% of women and 70.5% of men participating in sport-related activities. Of the 70.8% of children who participated in organized after-school activities, 67.3% were involved in sports.
- Trial and destination are key for a retailer to unlock the potential of the sports bars segment, whereas the demand for cereal bars comes from their properties related to functionality and health. For instance, Goodness Superfoods has become a popular brand because of its variety of cereals, porridges, wraps, sprinkles, and bars. It also won the Healthy Food Guide Award for best breakfast cereal.
