Snack Bars Market in the US 2017-2021
About Snack Bars
Snacking has become an indispensable part of the consumer diet today. Thus, the consumption of snacks is increasing on a year-over-year basis. A transition is being observed in the snacking habits of the US consumers, who are opting to munch on snack bars more than any other snacks. The snack bars market in the US is expected to witness steady growth during the forecast period. Consumers have started considering snack bars as affordable and nutritious convenience snacks. With the rising awareness on healthy-eating, these snack bars have become immensely popular.
Technavio’s analysts forecast the snack bars market in the US to grow at a CAGR of 1.74% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the snack bars market in the US for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.Technavio's report, Snack Bars Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Snack Bars Market in the US 2017-2021
Technavio recognizes the following companies as the key players in the snack bars market in the US: General Mills, Kellogg, Quaker Oats Company, KIND, and Clif Bar & Company.
Other Prominent Vendors in the market are: Atkins Nutritionals, Earnest Eats, Mars, Oriole Healthy Food, Quest Nutrition, Small Planet Foods, Soul Sprout, and The Hain Celestial Group.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing demand for organic snack bars. The popularity of organic packaged foods among the US consumers is increasing, as they are now purchasing food products free from artificial ingredients. Consumers perceive organic food as healthy. They are concerned about the origin and quality of the ingredients used in the preparation of food products. Organic snack bars are becoming increasingly popular among health-conscious consumers and the rapid expansion of supermarkets and hypermarkets plays a key role in offering these products to consumers.”
According to the report, one of the major drivers for this market is Demand for products focused on health and nutrition aspects. There has been a considerable shift in the lifestyles and diet habits of people across the US during the past two decades. Urbanization and consumerism are the key trends that have driven this shift, leading to a rapid increase in the consumption of artificial and synthetic food products. Sedentary lifestyles and a lack of balanced diet have resulted in the increased outbreaks of lifestyle diseases such as diabetes, hypertension, and others.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in raw material prices. Raw materials used for making cereal bars include oats, rice, dry fruits such as raisins and almonds, and fruits such as strawberries and bananas. The fluctuations in the prices of these raw materials will affect the pricing of the snack bars. Also, soil erosion and pollution reduce the fertility of the agricultural land, resulting in barren wastelands. Thus, the increase in the prices of raw materials is a major challenge for the snack bars market.
General Mills, Kellogg, Quaker Oats Company, KIND, Clif Bar & Company, Atkins Nutritionals, Earnest Eats, Mars, Oriole Healthy Food, Quest Nutrition, Small Planet Foods, Soul Sprout, and The Hain Celestial Group.
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