Snack Bars in the US - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-10 15:58:02
Many producers of snack bars continued to push the health aspects of their products to attract consumers in 2013. This included focusing on the fibre and protein content, and making gluten-free varieties for consumers with coeliac disease or non-coeliac gluten sensitivity. In addition, new snack bars frequently highlight using all natural and non-GMO ingredients, as many consumers are concerned with the adverse health effects that may stem from preservatives and GMOs (genetically modified organisms). Manufacturers of snack bars are also highlighting the fibre and protein content of their products, to appeal to consumers who wish to use snack bars for dieting or appetite suppression.
Snack bars in the US is heavily and increasingly consolidated, with General Mills, Kellogg Co and Clif Bar & Co expected to control a 56% share of value sales in 2013. Beyond the top three, sales are split between a host of snack bar, consumer health and confectionery companies. Many of these companies specialise in a single type of snack bar, whilst General Mills and Kellogg products are found in almost every category in snack bars.
Snack bars is likely to continue its current strong growth in the forecast period, growing by a constant value CAGR of 3% to reach US$7.6 billion, whilst volume sales are expected to increase by a more moderate CAGR of 2% over the forecast period. This growth will largely stem from the growing trend of consumers choosing to eat between meals or to eat a number of small meals a day.
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