|Study Period:||2016 -2027|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The Indian snack bar market is forecasted to register a CAGR of around 12.25% during the forecasted period (2022-2027).
The COVID-19 pandemic resulted in opportunities for many private players to emerge in the markets to cater to the inflated demand for snack products, which benefited snack bar manufacturers. The country's need for innovative snacks is consistently high due to the associated convenience of storing, quick usage, and easy provision for nutrition and energy requirements. The snack and bar products have been kept back, as supermarkets have re-allocated stock priorities to staples and essential supplies due to the outbreak.
Consumer demand for convenient and healthy on-the-go snack options has by far been the primary attribute for sales of snack bars in the country. Increasing health-consciousness, active lifestyles, and awareness about the benefits of consumption of smaller meals are further leading to the increased consumption of snacks, which is expected to drive the demand for snack bars. Increasing sports participation and increasing the gym-going population are factors expected to further propel the growth of snack bars, particularly energy bars. However, snack bars in India are perceived to be high-priced compared to regular snacking options. This has provided Indian players like Patanjali an opportunity to come up with energy bars that are offered at a lower price.
Scope of the Report
Snack bars are versatile products often made with cereals, fruits, and nuts being an ideal food format to deliver healthy nutrients. The Indian snack bar market is segmented by product type as cereal bar, energy bar, and other snack bars, wherein cereal bar includes granola/muesli bars and other cereal bars. By distribution channel, the market is segmented as supermarkets/hypermarkets, convenience stores, online retail stores, and other distribution channels. Other distribution channels include pharmacies, drugstores, vending machines, variety stores, and specialist retailers. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).
|Other Snack Bar|
|Supermarkets and Hypermarkets|
|Online Retail Stores|
|Other Distribution Channels|
Key Market Trends
Demand for On-The-Go Snacking
On-the-go snacking is becoming extremely popular, especially among working-class people, teenage children, people living in hostels, and bachelors due to their hectic lifestyles. Moreover, the on-the-go snacking concept is closely associated with the easy consumption and handling of products that snack bars offer. Thus, the demand for snack bars is increasing due to the linked convenience of consumption. However, with the rise in urban population, increasing per capita income, busier lifestyles, higher disposable incomes, and the need for convenience arising out of the fast-paced lifestyles, the demand for ready-to-eat on-the-go snacks has increased. With an increase in health consciousness and a rise in per-capita expenditure toward premium food, the market for snack bars in India is forecasted to grow at an increasing rate.
To understand key trends, Download Sample Report
Rising Preference for Energy Bars
The sales of snacks in India has increased, and consumer demand for on-the-go healthier snacking alternative and nutrition foods has driven the market for snack bars. Also, with the rise in demand, fortified energy bars with high protein content are in demand. With increased health awareness, people have started doing sports activities and exercising to maintain their health. This is one of the key factors in increasing demand for energy bars in India. It also led Indian consumers to include fruit and vegetable-derived ingredients in their dietary habits, which has driven the demand for healthy energy snacks. This has led key players in the energy bars markets to develop newer and healthier market offerings, such as snack bars containing fruits and dried fruits. Some protein bars in this category provide extra zest for an intense workout and nutrition to prevent muscle injury and fatigue. These products pose a huge opportunity in the Indian market.
The Indian snack bar market is dominated, and the most active companies in the Indian snack bar market include Unibic, Yoga Bar, General Mills, and Eat Anytime, which hold a significant market share. The manufacturers are incorporating measures to increase their product visibility on the retail shelf by expanding their distribution channel and adopting innovative marketing strategies. Some players have positioned and marketed specific bars with particular ingredients/health benefits targeting a specific gender. Launching target-oriented products give consumers the feeling of personalization and have the potential to boost sales for the company.
- In 2021, Mondelez India launched the healthy snack bar Cadbury Fuse Fit Kolkata. The offering will be in the mid-premium segment, primarily targeting urban consumers.
- In 2021, General Mills Inc. introduced Good Measure, a new brand of snacks aimed at consumers concerned about how food interacts with their blood sugar, including those with diabetes and prediabetes.
- Yoga Bar, India's leading Healthy Foods brand, announced on November 20, 2020, the launch of its latest range of Nut Butters in Bangalore, Karnataka.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Cereal Bar
22.214.171.124 Granola/Muesli Bar
126.96.36.199 Other Cereal Bars
5.1.2 Energy Bar
5.1.3 Other Snack Bar
5.2 Distribution Channels
5.2.1 Supermarkets and Hypermarkets
5.2.2 Convenience Stores
5.2.3 Online Retail Stores
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 UNIBIC Foods India Pvt. Ltd.
6.4.2 Yoga Bar
6.4.3 General Mills
6.4.4 Pure Snacks Private Limited
6.4.5 EAT Anytime
6.4.6 Naturells India Pvt. Ltd
6.4.7 Eighty 20
6.4.9 Nature Essential Foods Pvt. Ltd.
6.4.10 Numix Industries Pvt Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
You can also purchase parts of this report. Do you want to check out a section wise price list?
Frequently Asked Questions
What is the study period of this market?
The India Snack Bar Market market is studied from 2016 - 2027.
What is the growth rate of India Snack Bar Market?
The India Snack Bar Market is growing at a CAGR of 12.25% over the next 5 years.
Who are the key players in India Snack Bar Market?
UNIBIC Foods India Pvt. Ltd., Yoga Bar, General Mills, Naturells India Pvt. Ltd, EAT Anytime are the major companies operating in India Snack Bar Market.