Europe Snack Bar Market - Growth, Trends, and Forecasts (2018 - 2023)
The European snack bar market recorded a revenue of USD 3841.02 million in 2016, and is expected to register a CAGR of 3.1% over the forecast period (2018-2023). Retail sales of the British snack bar market are estimated to be worth USD 880.8 million. Snack bars have become a healthier and easier alternative to other snack foods, such as chocolates, cakes, and biscuits.
The most active age group that is a major consumer of the snack bars in the United Kingdom is 18-25-year age bracket, which accounts for 35% of the overall consumers. The increasing trend of snacking on the go in Europe and snacking in between meals, have driven the sales of snack bars.
Snact Unwanted Banana Bars
Eco-conscious snack producer Snact introduced a range of bars using bananas that would otherwise go to waste. Snact said the bars have been created to help reduce the ‘1.4 million edible bananas’ that are thrown away in the United Kingdom every day. A trio of banana-based snack bars were launched in three flavors: apple and cinnamon, carrot and spice, and beetroot and cacao.
Mars Chocolate Launched goodnessKNOWS Bars in the United Kingdom
The Snickers and Twix maker’s 34 g goodnessKNOWS bar provides 160 calories, and is made from fruit, whole nuts, and rolled oats, bound in Mars’ own peanut and almond butter, then dipped in 45% cocoa chocolate. Each bar comprises four separate squares, and contains no artificial flavors or preservatives.
Snack Bars are ‘On-the-go’ Breakfast
British consumers are particularly significant on-the-go breakfast eaters, with 22% of adults having breakfast outside their home at least once a week. The granola bars have contributed to 25% of the total sales of the European snack bars market. Germany, France, and Italy are the other major countries that account for a significant share of the European snack bar market. Consumer demand for convenient and healthy food options shows no signs of slowing down, and is expected to drive snack bar sales in the years to come. Breakfast bars are the most preferred type among all the snack bars, keeping with the trend of on-the-go breakfast. Energy bars and protein bars have also recently gained popularity as post-workout snacks. Whole grain is the fastest growing category of ingredient in snack bars within Europe, with the United Kingdom being the largest consumer.
French Snack Bar Market
The market is different in different regions of Europe. For instance, the French market covers packaged family, adult, and single snack bars, which can be eaten without accompaniment (egg milk) anywhere (such as on street), usually between meals. It includes fruit, nut/seed and cereal, and other snack bars. Market size comprises sales through all retail channels, including direct to consumer. Similarly, Germany, Spain, and Italy have different market segments for snack bars.
Market Fragmentation with the Existence of Various Players
The European snack bar market is fragmented, and consists of many small and large players worldwide. The companies, such as Kellogg, Natural valley, Alpen, and Jordan are the major players, and offer various products in the snack bar market. Communicating fruit content is a major way in which the British snack bar brands are working, to increase their natural health credentials.
The European snack bar sector is facing intense competition with a wide variety of other snack products, ranging from chocolate to sandwiches. Cereal, snack, and energy bars are gaining traction in the mainstream market only in the recent times, compared to long-established snack sub-sectors with more potential to attract both new manufacturers and users.
Despite its competitive environment, there are opportunities for cereal, snacks, and energy bars. For example, the world of sports has become a key area for the snack bar category in Europe. Brands are becoming more specific regarding the type of athletic support they provide, and the type of benefits they can offer to athletes. As the European snack bar market is currently witnessing a period of growth, manufacturers from other categories, such as biscuits, are considering the category to extend their brand presence.Major PLAYERS: KELLOGG, NATURAL BALANCE FOODS, CLIF BAR (LUNA BAR), GENERAL MILLS, KIND SNACKS, MARS INC., NESTLE ABBOTT LABORATORIES INC., GLAXOSMITHKLINE PLC, WEETABIX LTD, UNITED BISCUITS (HOLDINGS) PLC and ASSOCIATED BRITISH FOODS, amongst others.
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