The global snack bars products market was valued at USD 44.3 billion in 2021 and is expected to expand at a CAGR of 8.2% from 2022 to 2030. Snack bars are increasingly becoming popular among consumers due to their convenience, portability, and health benefits. In addition, the increasing number of health-conscious consumers has driven the demand for healthy snack bars, such as low-sugar and organic snack bars, which are made from natural ingredients. Furthermore, manufacturers are incorporating various ingredients, such as probiotics, superfoods, and omega-3, in their products to offer enhanced health benefits.

The rising demand for snack bars from the developing regions, such as Asia Pacific and Latin America, is expected to drive the market growth. For instance, in May 2021, Kellogg’s launched a range of snack bars, called Rice Krispies Squares, in India. These snack bars are available in two flavors, namely, strawberry and choco-nut. The strawberry flavor provides a sweet and tangy taste, while the choco-nut flavor offers a crunchy and chewy texture.

Moreover, the introduction of innovative flavors is expected to drive the market growth. For instance, in March 2021, Nature Valley launched two new flavors, peanut butter and oatmeal, in the US. The peanut butter flavor has a combination of crunchy granola and smooth peanut butter, while the oatmeal flavor has a combination of rolled oats and chewy bars. Both the flavors are available in different sizes and packages.

Consumers are also increasingly preferring vegan and plant-based snacks, as they are considered healthier than conventional snacks. This has led to an increase in the number of vegan snack bar launches. For instance, in March 2021, Kind Snacks launched an all-new plant-based snack bar in the US. The bar is made from simple and natural ingredients, such as whole grains and nuts. Furthermore, the brand has also launched a vegan protein bar to meet the growing demand for vegan protein bars.

In addition, the launch of new products and flavors by key players is expected to further drive the growth of the market. For instance, in October 2021, General Mills launched Nature Valley Thins, a bite-sized version of the Nature Valley snack bar. The new product is available in three flavors, namely, oatmeal, crunchy oatmeal, and peanut butter. Furthermore, the company is also launching other product variants, such as Nature Valley Nut Butter Filled, which is a combination of peanut butter and crunchy granola.

The energy bars segment led the market and accounted for a share of around 38.2% in 2022. The rising trend of snacking and the increasing consumer preference towards healthy snacks is driving the demand for snack bars. According to an article published by Mylan, in August 2020, snacking has become an important part of the consumer’s diet, and snack bars are gaining more attention as a healthy snack alternative. Moreover, the growing popularity of vegan and gluten-free snack bars among health-conscious consumers has further augmented the growth of the market.

The protein bars segment is anticipated to expand at the fastest CAGR of 8.3% over the forecast period. Growing demand for protein-rich snacks for fitness and health, rising consumer preference towards convenient snacking options, and the increasing availability of protein bars in various flavors are some of the key factors driving the growth of the protein bars segment. Additionally, increasing consumer awareness about the health benefits of consuming protein bars is further fueling the market growth.

The supermarkets and hypermarkets segment captured the major share of the snack bars market in 2022. The growth of this segment is mainly driven by the rising consumer inclination towards supermarkets & hypermarkets as a primary source to purchase food items. According to a report by Nikkei Asia, supermarkets and hypermarkets account for more than 45% of the total sales of snack bars. Supermarkets and hypermarkets offer a wide variety of snack bars, which helps consumers to make the right choice. Additionally, these establishments also provide discounts and promotions on snack bars, which further drive the sales.

The online distribution channel is expected to expand at a rapid pace over the forecast period. The rise in the number of online retail stores has enabled consumers to purchase snack bars conveniently. In addition, online stores often offer discounts on snack bars, which boosts the sales of this product. Moreover, the rapid increase in the number of smartphone users has further contributed to the growth of the online distribution channel.

The snack bars segment accounted for the largest market share of 55.6% in the year 2022. The convenience of carrying, easy storage, and vast availability of snack bars are the primary factors driving the growth of the segment. Furthermore, the hectic lifestyle of many people has led to an increase in the demand for snack bars as an alternative to traditional snacks. The manufacturers are focusing on offering snack bars with different flavors, shapes, and sizes to attract the attention of consumers.

The energy bars segment is expected to register the highest CAGR of 8.5% over the forecast period. The increase in awareness regarding health and fitness among consumers has boosted the demand for low-calorie and high-fiber energy bars. The manufacturers are focusing on offering a variety of energy bars, such as protein bars, that can provide essential nutrients and energy to the body. Also, the increasing number of athletes and bodybuilders is expected to fuel the growth of the segment.

The Asia Pacific accounted for the largest market share in 2022 and is projected to witness the fastest growth over the forecast period. The increasing demand for healthy snacks due to rising awareness regarding the health benefits of snack bars is driving the growth of the market in the region. In addition, the region is also home to several leading players in the industry such as PepsiCo, Mondelez International, and Nestle, which is further expected to support the growth of the market.

North America is expected to witness the second-fastest growth in the coming years. Increasing demand for snack bars on account of the increasing working population in the region is projected to drive the growth of the market. Furthermore, the presence of well-established players in the market, such as General Mills, Kellogg’s, and Mars Inc., is expected to support the growth of the market in the region. For instance, in April 2021, Kind Snacks launched a new range of snack bars in the U.S. with a focus on plant-based ingredients and protein.

In this part of the snack bars products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your snack bars products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for a snack bars products business comes from sales of the product, sponsorships, and advertising. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, donations, and the sale of merchandise.

Projecting Expenses
In this section, all the regular expenses related to keeping the snack bars products business running will be described. The list of operating expenses includes wages, maintenance and repairs, utilities, insurance policies, packaging materials, advertising, and others.

Some of the key companies operating in the snack bars market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Mars Inc. launched the Pure Organic Bars, which are organic, non-GMO, vegan, and gluten-free snack bars.

– In August 2022, Kind LLC launched the Kind Bars Plus, which are made with whole grains, nuts, and fruits and provide a nutritional boost.

– In October 2022, Clif Bar & Company launched the Clif Bar Kids, a range of snack bars specifically designed for children.

Some of the prominent players in the snack bars market include:

– Mars Inc.
– Kind LLC
– Clif Bar & Company
– Kellogg Company
– General Mills Inc.
– Kraft Foods
– Quaker Oats Company
– Mondelez International
– The Hershey Company
– PepsiCo Inc.

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global snack bars products market based on product type, distribution channel, flavor, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Energy & Protein Bars
– Granola & Nutrition Bars
– Cereal Bars
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Convenience Stores
– Online
– Others

3. Flavor Outlook (Revenue, USD Million, 2017 – 2030)

– Sweet
– Savory
– Others

4. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Different Types of Snack Bars Available?
[A]: There are various types of snack bars available in the market, such as protein bars, energy bars, nutrition bars, cereal bars, and others. Protein bars are one of the most popular snack bars and are consumed mainly by athletes and bodybuilders. Energy bars are generally consumed during physical activities to provide an extra boost of energy. Nutrition bars are consumed as healthy snacks as they contain various vitamins and minerals. Cereal bars are mainly consumed as breakfast snacks or snacks between meals.

[Q]: Who are the Key Players in the Snack Bars Market?
[A]: The key players in the global snack bars market are General Mills Inc., Kellogg Company, Nature Valley, The Quaker Oats Company, PepsiCo, Inc., KIND LLC, Atkins Nutritionals, Inc., LUMA Natural, The Hain Celestial Group, Inc., and Clif Bar & Company.

[Q]: What are the Key Factors Driving the Snack Bars Market?
[A]: The key factors driving the global snack bars market include the increasing demand for healthy snacks, growing health-consciousness among consumers, and the growing popularity of on-the-go snacks. Furthermore, the growing demand for organic and gluten-free snack bars is expected to drive the market further.

[Q]: What is the Market Outlook for Snack Bars?
[A]: The global snack bars market is expected to register a CAGR of 5.3% during the forecast period 2020-2025. The increasing demand for healthy snacks and the growing popularity of on-the-go snacks are the major factors driving the market. Consumer preference for natural and organic snack bars is expected to offer lucrative growth opportunities in the market.