November 29, 2024 – Globally, snack bars remain popular for their convenience, nutritional benefits, and ability to balance indulgence with on-the-go lifestyles. Innova’s 360 research on snack bar category trends helps analyze consumer preferences, market insights, top brands and flavors. These insights can help brands or companies make strategic decisions to stay ahead in the market.
Snack Bars Consumer Preferences
37% of consumers globally have purchased snack bars in the past year. Snack bars are a popular choice as an afternoon or morning snack and at breakfast. The top consumption frequency for snack bars is 2-3 times per week, followed closely by a few times per month. Gen Z, Millennials and households with children under the age of 19 are most likely to eat snack bars more than once a week. Convenience and taste drive their popularity, with 50% of consumers turning to cereal and energy bars for a quick snack between meals, at work or school, or as a TV snack.
While two-thirds of consumers maintain their consumption levels, 23% have increased their intake due to health benefits, lifestyle changes and variety. Energy boosts and added protein are the most sought-after health benefits, making high protein and high fiber claims key purchase drivers. Taste and flavor, as well as cost, are the most influential product attributes when purchasing snack bars.
Consumers prefer snack bars that are flavored, standardized, modern, come in smaller pack sizes, and have added health benefits. Nuts, fruits and almonds are consumers’ favorite snack bar flavors. Supermarkets are the top outlet for purchasing snack bars, followed by convenience stores, online, and specialty stores.
Snack Bars Market Size and Trends
Sales and volume of the global snack bars market have been growing steadily over the past five years, at a CAGR of 5% and 4%, respectively. Snack bars trends research predicts a projected same growth rate in sales and volume over the next five years.
North America is the leading region for retail snack bar sales, followed by Western Europe. Together, these two regions account for four-fifths of global retail sales. The Middle East, Western Europe and Eastern Europe are forecast to show the strongest growth in the coming years. Canada, Australia, New Zealand and the United States have the highest per capita consumption of cereal and energy bars.
Top Brands and Companies
The global snack bar market is fragmented by manufacturers. Kellogg and General Mills are the top companies, each with 4% of branded launches. Private label accounts for 16% of global snack bar launches over the past five years. Private label is particularly important in Eastern and Western Europe.
Other notable key players include Cereal Partners Worldwide, Mars, Hero, Schwarz and Mondelēz. These top seven companies accounted for 19% of global new product launches over the past five years.
Snack Bars Product Launch Trends
Global product launches in the snack bar industry have declined over the past five years, lagging overall food and beverage product launch trends. However, regions such as Asia, Eastern Europe, and the Middle East and Africa are seeing an increase in launches, while Western Europe accounts for one-third of global launches.
Protein, cereal and granola bars are growing in terms of launches, with over 80% of launches described as bars. Most products don’t mention texture on the packaging, but crispy, soft and chewy are the leading texture claims. The majority of the snack bar industry makes passive health claims. Gluten-free, ethical packaging, fiber, and protein are the top positionings in the global snack bars market.
Snack Bars Ingredients and Flavors
Most launches contain plant, sugar/honey, fat/oil, grain, fruit and/or nut/seed ingredients. Salt, cocoa and sweeteners show an increase in launches. Oats, rice flour and wheat flour are the top grain ingredients. Oat and oatmeal launches are up 5% and 3%, respectively.
Among fruits, dates and coconut remain the most common fruits used, while almonds and peanuts lead the nut category. Sunflower seeds are the top seed inclusion, highlighting their growing appeal. About half of the new snack bar industry includes granulated sugar, glycerin or corn syrup, reflecting their role in taste and texture.
Brown flavors, fruits and nuts are the top flavor categories. Milk chocolate is a popular brown flavor and shows an increase in launches. Fruit ingredients account for 40% of launches in the past year. Coconut and strawberry are the top fruit flavors, followed by cranberry, unspecified fruit and banana. Almond, peanut and unspecified nut are the most common nut flavors. This mix of ingredients and flavors meets evolving consumer preferences for indulgent, nutritious and versatile snack options.
What’s Next in the Global Snack Bar Industry Trends?
Snack bars are a top choice for morning and afternoon snacks, as well as breakfast, but are less often eaten at other times of the day, meals, and other eating occasions. This creates an opportunity for brands to grow the snack bar industry as an alternative to salty snacks, cookies or sweets for evening consumption, on the go, or as a snack during work or study sessions. Highlighting health benefits and convenience can also make snack bars appealing as a treat for children.
More than 80% of the global snack bar launches carry carries health claims, but most are passive, leaving room for more active inclusion of fiber and protein. Brands can capitalize on this gap by introducing products with explicit health benefits that appeal to health-conscious consumers.
Bars are the top format for new snack bars, accounting for more than 80% of launches. Each of the other product forms accounted for a very small percentage of new product launches. This suggests potential for innovation in less common forms, marketed as affordable indulgences, to attract consumers looking for variety in their snacking experience. With the growing demand for personalization, brands may explore customizable snack bar options to meet specific dietary and lifestyle preferences.
This article is based on Innova’s Now & Next in Snacks Bars – Global report. This report is available to purchase or with an Innova Reports subscription. Reach out to find out more
