Food Bar Market To Thrive at a Steady Pace from 2017 to 2023

Pune, India, July, 2018 /press release/- Market Research Future Published a Half Cooked Research Report on Global Food Bar Market Research Report.

Market Insights:

The increased number of product offerings by the top-notch players customized according to the changing preferences of consumers is stimulating market expansion. Market Research Future (MRFR) has disclosed in its latest report that the global food bar market will exhibit moderate growth throughout the forecast period 2017-2023.

The availability of food bars as a healthy replacement for unhealthy snacks is propelling the growth in the market as there has been a rising awareness about health benefits associated with nutritional food habits. The introduction of protein bars, oat bars, etc. has become popular among the athletes, gym goers, etc. because of its nutritional value. Similarly, the players of market strive to expand their product portfolios to cater to the needs of different categories of consumers. The wide range of bars available in the market has catapulted the revenue generation from the market.

The consumers of food bars come under all age groups. Hence, the increasing population is also contributing towards an upward shift in demand. The major obstacle standing in the way of market expansion is the availability of substitutes for food bars in the market.

Global Food Bar Market Segmentation:

By type, the food bar market has been segmented into candy bars, energy bars, protein bars, oats bars, and, others. The growing health concerns among the population due to increasing incidences of diseases will be the driving factor of market growth in the protein bars segment.

By flavor, the market is segmented into chocolates, fruits, peanut butter, savory, spices, and, others. The chocolate segment holds the most significant share in the market and is expected to retain its position throughout the assessment period, whereas, the steepest growth will be observed in peanut butter segment.

By distribution channel, the food bar market has been segmented into store based, and, non-store based. The market will be dominated by store based segment due to its large-scale market penetration.

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Regional Analysis

By region, the food bar market has been segmented into North America, Europe, Asia Pacific, and, Rest of the World (RoW). Asia Pacific region has captured a considerable part of market share and control; and will continue to dominate the market over the assessment period. The driving factor of Asia Pacific market is the massive consumption due to increasing population. This region borders emerging economies such as India, and, China which are also the most populous countries in the world. The easy availability of food bars and a wide range of product offerings have propelled the growth in the region. Also, the growing inclination towards a healthy snack replacement is fueling demand in the region.

The rising awareness about the benefits of food bars and availability of various flavored bars at moderate prices have led to market expansion in North America. The U.S. is the primary revenue generator in North America region and is also the home for prominent key players such as Kellogg, General Mills, Quaker Oats, etc. The shift in Europe towards a healthy lifestyle is driving growth in food bar market. The presence of players such as Nestle is also responsible for market growth and expansion in the region. The introduction of new products will amplify demand in RoW region during the assessment period.

Competitive Dashboard:

The key players profiled by MRFR in its report are Atkins Nutritionals, Inc. (U.S.), General Mills Inc. (U.S.), Nestle (Switzerland), CAVEMAN FOODS (U.S.), Kellogg Co. (U.S.), Quaker Oats Company (U.S.), and, Clif Bar & Company. (U.S.). The key players in the market compete with each other to gain an edge by tapping on opportunities posed by changing market trends. The strategies implemented by the players to increase their share in market are research & development, product development, increased production, innovation in production technology, etc.

Rawr Chocolate has launched a range of gluten-free, vegan chocolate bars available in five flavors, viz. lucuma cacao, 80% cacao, 68% cacao, orange, and, mint. The bars are wrapped in 100% recyclable foils coupled with packaging in matte-effect wrappers made from 10% cocoa shell and 90% recyclable paper. The bar has been certified organic and is sweetened with coconut palm sugar.