Market Trends of Thailand Snack Bar Industry
The Growing Fitness Trend Among Population is Boosting the Market Studied
The growing fitness wave and gym-going population have fueled the growth of the energy bar market. Snacking on multiple occasions between meals while traveling, ease of carrying, and intact nutrition have driven the demand for snack bars. Convenience-related claims are increasingly becoming popular in health and wellness products, thus encouraging sales of a variety of snack bars. Customers are urged to choose snack bars with grains, nuts, and other nutritious elements that provide the nutrition on the move due to the nutritional benefits of the various ingredients used in snack bars. Moreover, protein-based snack bars with fiber and enhanced protein content are commonly preferred by consumers with health-conscious and fitness enthusiasts in the country. This inclination towards health-based snacks resulting increasing demand for protein-based snack bars in the country.
Online Retail is Accelerating Sales
There is strong growth in online shopping in the country due to convenience and various offers attracting consumers. Thai consumers have become more tech-savvy, which is further driving online sales. Rapid growth in mobile penetration, internet speed, and the growing economy have supported internet retailing in Thailand. Multiple brands are available in online shopping, offering ease to consumers as well as lower-cost management to companies. Products offered in online retail places are priced slightly less resulting in consumers' inclination towards buying products through e-commerce websites. Companies operating in the country are offering online services to avoid market intermediaries and to reach consumers directly. Manufacturers tend to offer bulk units at affordable prices to encourage consumers to more purchases. In addition, more companies operating in the country are focusing on offering products over online retail chains, resulting in increased sales of snack bars in Thailand.
