Market Size of Brazil Snack Bar Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 17.85 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Brazil Snack Bar Market Analysis
Brazil's snack bar market is projected to record a CAGR of 17.85% during the forecast period.
Increased snacking trend due to a busy lifestyle is the primary driver for the market. Growing demand for health and wellness products, convenient packaging, and preference for cereal-based snacks is fueling the market for snack bars. The increase in dual-income households has prompted consumers to divert their spending on convenience and better-for-you foods.
The health and wellness trend can be expected to remain the most important influencer in the snack bar market in Brazil. Owing to this factor, the sales of protein/energy bars and fruit and nut bars in the country are rising, as Brazilians want to have snacks that are not only low in added sugar but also offer clear health benefits. Nutry, a company based in Brazil, offers post-workout protein bars in vanilla flavor. The bar consists of ingredients such as BCAAs, whey protein, minerals, and vitamins. The trend toward gluten-free and low-sodium claims is fetching increasing popularity in the Brazilian snack bar market. For instance, Kobber, a Brazilian manufacturer of bakery and snack products, offers a line of snack bars based on tapioca in the Brazilian market. These products are promoted as gluten-free and low in sodium and contain only 62 -65 calories per 16g bar, depending on the variety.
Average Brazilian consumers often demand larger portion sizes and lower prices. Therefore, they find products at economical and sustained prices more appealing, which could be a huge impediment for the major players operating in this segment and could be considered a significant reason to modify their marketing and production strategies. Hence, the factors such as an increase in the popularity of convenient foods, fortified foods, and the launch of new products specially designed to cater to the needs of consumers are expected to drive the snack bar market across the country over the forecast period.
