The snack bar market in the United Kingdom (U.K.) was valued at USD 821.1 million in 2015, benefitting from a nation of consumers looking for convenient, on-the-go meal and snack options. The value sales are expected to grow at a CAGR of 3% in the forecast period.
Retail sales of snack bars are expected to register a CAGR of 5.91% in Europe and are estimated to be of value USD 880.8 million in the U.K. Snack bars have become a healthier and easier alternative to other snack foods like chocolates, cakes and biscuits.
The most active age group that is a major consumer of the snack bars in the U.K. is 18-25 year and they amount to 35% of the overall consumers. The increasing trend of snacking on the go and snacking in between meals has driven the market sales of snack bars.
Consumers in the U.K. are particularly big on-the-go breakfast eaters, with 22% of adults having breakfast outside of the home at least once a week. The Granola bars have contributed to 25% of the total sales of snack bars. Germany, France and Italy are the other major regions that are a significant part of the European Snack bars market. Consumer demand for convenient and healthy food options shows no signs of slowing down and will drive snack bar sales in years to come.
The market is different in different regions of Europe. For instance, France market covers packaged family, adult and single snack bars which can be eaten without accompaniment (egg milk) anywhere (such as on street) usually between meals. It includes fruit, nut/seed and cereal and other snack bars. Market size comprises sales through all retail channels including direct to consumer. Similarly Germany, Spain and Italy have different market segment for snack bar.
The snack bar market is a fragmented market consisting of many small and large players worldwide. The companies such as Kellogg, Natural valley, Alpen and Jordan are the major players and consists of various products in snack bar market. Communicating fruit content is a major way in which British snack bar brands are working to increase their natural health credentials.
The snack bar sector is in competition with a wide variety of other snack products ranging from chocolate to sandwiches. Cereal, snack and energy bars are only recently gaining traction in the mainstream market, compared to long-established snack sub-sectors with more potential to attract both new manufacturers and users.
Despite its competitive environment, there are opportunities for cereal, snacks and energy bars. For example, the world of sports has become a key area for the snack bar category in Europe. Brands are becoming more specific regarding the type of athletic support they provide, and the type of benefits they can offer to athletes. As the European snack bar market is currently going through a period of growth, manufacturers from other categories, such as biscuits, are looking to the category to extend their brand presence.
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