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Europe Snack Bar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The European Snack Bar Market is expected to reach USD 3. 7 billion by 2025 at a CAGR of 4. 92% during the forecast period. Key Highlights The snack bar market in Europe is benefitting from consumers who prefer convenient on-the-go meal and snack options.
New York, June 14, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Snack Bar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06241288/?utm_source=GNW
The long-term rise in on-the-go snacking and rise in snacking between meals have helped the snack bar market growth in the region. The focus on healthy eating has benefited the market.
Snack bars are commonly perceived as a healthier alternative to chocolate or confectionery, but due to product variation, they also enjoy a strong image as a treat. Product innovation has been a key driver, supporting visibility and consumer interest, and helping to attract new clients to the market.
Key Market Trends
The United Kingdom is Contributing the Maximum Share to the European Energy Bar Market
Kellogg’s is the leading snack bar brand in the United Kingdom, and it has developed several products for its breakfast cereals portfolio, including the child-oriented Frosties bars and Special K bars. Cereal and snack bars cannot be sold in British schools under the guidelines of School Food Trust (SFT). However, schools have started accepting them as part of a packed lunch, which serves as treat for children and gains their attention for the product. Close to half of the English population eat snacks at least once a week. Nearly 18% of the adult consumers in the United Kingdom report snacking on-the-go at least once a day. The ongoing public focus on healthy eating has benefited the snack bars market in the country. Snack bars are widely perceived as a healthier alternative to products, like chocolate or confectionery. However, due to product variation, they also enjoy a strong image as a treat.
Energy Bar is the Fastest Growing Snack Bar
Energy bars are primarily composed of carbohydrates, with smaller amounts of protein and fat. The high-carbohydrate content provides fuel for muscles, protein helps in muscle repair, and their low-fat/low-fiber formulation makes them easy to digest, making them the perfect workout snack. Companies, like Kellogg’s, have products with high-protein content in snack bars with multiple flavor as well, like caramel pretzel cashew protein, which includes ingredients, such as, soy protein isolate, soluble corn fiber, cashew, palm kernel, soy lecithin, and palm oil, among other ingredients. Manufacturers, like MioBio Company, are also coming up with energy bars with no added sugar, artificial sweetener, preservatives, GMOs, cereals, glutens, or dairy products. However, the price of raw materials is a major hurdle, as it keeps changing.
Competitive Landscape
Kellogg’s and General Mills are two major players in the market. However, other players, such as Nestle, and Post Holdings Inc. enjoy a significant share in the market. Whereas, Alpen, Nature Valley, Kellogg’s Special K, Go Ahead!, Jordans, and Kellogg’s Nutri-Grain are the major brands leading the market. New product development is the most adopted strategy and is in compliance with the consumer trend, i.e. the target segment helps in better positioning of the company. The key players enter into partnership with other major players or regional players, so as to get a foothold in every country. To continue dominating the market, the key players seek to acquire local players.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Read the full report: https://www.reportlinker.com/p06241288/?utm_source=GNW
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