Market Size of South Africa Snack Bar Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 11.48 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Africa Snack Bar Market Analysis
The South Africa Snack Bar Market is projected to register a CAGR of 11.48% during the forecast period.
The demand for sports and energy bars is increasing in the country, especially among health-conscious consumers. Protein and fiber are the two most popular ingredients that are generating demand among consumers. This trend continues to influence manufacturers of energy bars, pushing them to launch high protein and high fiber bars that can serve as a supplementary source of energy and a meal replacement option.
Consequently, FutureLife, a brand leader in the South African functional food market, extended its current SmartFood product range by offering three energy and protein bars, namely, High Energy SmartBars, High Protein SmartBars, and High Protein Lite SmartBars, for South African consumers. The high-energy protein and sports bars are available across channels in the country, which the company claims are all non-GMO, contain added vitamins, minerals, and the daily immune supplement, MODUCARE.
The concept of allergen-free products is likely to stir the market for snack bars during the forecast period, providing access to worry-free snacking for people allergic to gluten, soy, or any other similar ingredient. Thus, manufacturers are also launching innovative products to cater to the potential market. However, a major factor that restrains the growth of the snack bars market is the number of options available in healthy snacks other than snack bars like nuts, seeds, and dried fruit products that are natural and readily available in the market.
