snack-bars-market-industry
Published

MAR 2018

United States Snack Bar Market - Growth, Trends and Forecasts (2018 - 2023)

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Market Insight

The United States snack bar market is estimated to be valued at USD 6.8 billion by 2023, registering a CAGR of 7%. Energy and nutrition bars occupy almost one third of the snack bar market the United States, and are consumed widely across the country. The volumetric sales of snack bars are expected to register a CAGR of 2.1% during the forecast period.

Snack bar is a convenience food, and owing to a busy lifestyle, consumers prefer on-the-go meals. Therefore, in the present scenario, the major snack bar market shareholders are the working populace.

  • Go Macro, a family-owned, all-natural snack company launched a vegan nut butter bar

Go Macro, a family-owned, all-natural snack company launched a vegan nut butter bar. It offers up a total of 11 flavor varieties (from banana almond butter to granola coconut) in either full-size or mini bars (ideal on-the-go purse snacks) that are all certified vegan, raw, and gluten-free.

  • US snack bar maker Toosum Healthy Foods buys peer Kutoa

US snack bar maker Toosum Healthy Foods snapped up local peer Kutoa for an undisclosed sum. With the deal, Toosum added another non-GMO verified snack bar range to its portfolio.

Increasing Demand from the Sports Sector

Brands are becoming more specific regarding the type of athletic support they provide, by targeting defined segments of the overall sports experience, from preparation to recovery. Energy and endurance bars maintain blood-glucose levels during exercise, and contain a high concentration of carbohydrates, with typically moderate amounts of protein and fat. Balanced bars have very evenly balanced nutritional profiles, which contain similar proportions of carbohydrates, protein, and fat. Protein bars in the United States are targeted at bodybuilders, to help them achieve their muscle mass and strength goals. Consumers of sports nutrition products have been bodybuilders and athletes. This trend is changing, as weekend sports enthusiasts and lifestyle users are creating new market opportunities for snacks bar manufacturers.

Granola Bars are the Leading Snack Bar Type

Every four out of ten consumers prefer on-the-go snacks that are portable and affordable. Snack bars that contain vitamins, minerals, fibers, and protein are gaining popularity, as they complement the nutritional requirements of consumers. The overall rise in the trend of snacking between meals makes snack bars an extremely viable option. The granola bars segment in the United States accounts for close to 50% of the total snack bars sales.

Kellogg’s and General Mills Dominate the Market

The market for snack bars in the United States is consolidated with the presence of companies that operate across the globe. The US snack bar market is governed by the leading players, along with some regional small- to medium-scale players entering the market. Kellogg’s company and General Mills are the dominant players, and together account for 40% of the US snack bar market share. The other leading players are Clif Bar Co., Abbott Nutrition, PepsiCo Inc., and Mars Inc.

The major key players include –

  • Kellogg
  • Clif
  • General Mills
  • Nakd
  • Mars

What does the report offer?

  • Analysis of the outlook of the market, with the contemporary trends and Porter’s five forces analysis.
  • Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market studied over the forecast period.
  • Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
  • Global-, regional-, and country-level analysis, integrating the demand and supply forces that are influencing the growth of the market.
  • Competitive landscape involving the market share of major players, along with the key strategies adopted for development during the past five years.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players.
  • Three months analyst support, along with a Market Estimate Sheet (in Excel).

Customization of the Report

  • Volume of the snack bar market
  • Consumer behavior analysis at country level
  • Revenue of the global snack bar market

This report can be customized to meet your requirements. Please connect with our analyst, who will ensure that you get a report that suits your needs.

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