Please Wait.....
Report
Australia Snack Bar Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 80 Pages I Mordor Intelligence
The Australian Snack Bar Market is expected to register a CAGR of 4.69% during the forecasted years.
Key Highlights
Australian consumers spend more on healthy and convenient snack products due to the country's changing lifestyles, increasing dietary intake, and sports culture. The trend of "anytime" snacks is growing in the country, and snack bars are used as meal replacements by health-conscious consumers. Moreover, consumers are demanding naturally sourced, healthy, and nutritious food products, which, in turn, drives the demand for snack bars among Australian consumers.
Cereal bars have various benefits: they improve blood pressure, reduce cholesterol and blood sugar levels, improve gut health, and provide antioxidants. The rising health consciousness among Australians has led to adopting a healthy diet and active lifestyle, resulting in higher consumption of snack bars. Such factors also create opportunities for the snack bar market to expand globally.
Australians are highly conscious of health and fitness. They consider snack bars an appropriate substitute for meals and breakfast since they contain desirable characteristics like low fat, carbohydrates, sugar content, and calories. Thus, snack bars are poised to register high growth in the Australian snack bar market. This represents an exciting opportunity for the manufacturers of nutritious snack bars to step in and cater to the demand, but only if they can differentiate themselves from other brands, identify their current and potential consumers, and tailor their marketing communications accordingly.
Australia Snack Bar Market Trends
Demand for Clean Label and Free-From Snacking Products
Consumer demand for healthy, free-from-snacking, and on-the-go snack options has been the primary reason for the sales of snack bars in the country. Due to the adverse effects of unhealthy eating habits and changing lifestyles, consumers all over Australia have become more interested in non-GMO foods. This increase in demand is also leading to a rise in the consumption of snack bars, which is expected to drive the market under study.
Additionally, there has been an increase in the number of people with diabetes in Australia. According to the National Health Survey, there were approximately 1.3 million cases of diabetes in Australia during the 2021 fiscal year. Therefore, snack bar players have various opportunities within the reduced sugar, functional food ingredients, savory spins, and plant protein categories. Due to the availability of snack bars for a wide range of tastes, the demand for these products has significantly increased in Australia.
For instance, in July 2021, Australian Firm Nuzest launched a multivitamin snack bar in Australia, New Zealand, and Singapore. The Good Green Vitality snack bar contains a combination of 75 vitamins, minerals, probiotics, fiber, and other essential nutrients, along with the Good Green Vitality supplement powder, which provides support for digestion, immunity, cognition, energy, and stress.
Rising Preference for Sports Bars and Cereal Bars as On-the-Go Snacks
The demand for innovative snacks like cereal and sports bars in Australia is continually rising. Additionally, a seamless distribution system for these snacks to customers is required, allowing for simple usage, convenient access, and effective product storage. The latest trend of on-the-go snacks is intently connected with the ease of use and handling of products, which healthy nutritious bars provide. The rise in the number of Australians' participation in sports and other recreational activities is also boosting the demand for sports and cereal bars.
According to data published by Clearinghouse for Sports, in 2020-21, 88.8% of adults [over the age of 15] participated in sport or physical activity, with 55% of women and 70.5% of men participating in sport-related activities. Of the 70.8% of children who participated in organized after-school activities, 67.3% were involved in sports.
Trial and destination are key for a retailer to unlock the potential of the sports bars segment, whereas the demand for cereal bars comes from their properties related to functionality and health. For instance, Goodness Superfoods has become a popular brand because of its variety of cereals, porridges, wraps, sprinkles, and bars. It also won the Healthy Food Guide Award for best breakfast cereal.
Australia Snack Bar Market Competitor Analysis
Competition is fierce in the Australian snack bar market. Several international and regional companies, such as Nestle SA, Mondelez International, Inc., Vitaco Health Australia Pty Ltd, and Carman's Fine Foods Pty Ltd, are expanding their reach and range, making it challenging for the leading players to maintain a market share. Stiff competition and heavy price discounts from new entrants are the key challenges for the snack bar market. The market is becoming overcrowded, with many new competitors willing to cut their pricing substantially. The constant promotions within the supermarkets mean that many customers now wait for products to be on special offers to purchase them rather than being brand loyal.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Buyers/Consumers
4.3.2 Bargaining Power of Suppliers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Cereal Bars
5.1.1.1 Granola/Muesli Bars
5.1.1.2 Other Cereal Bars
5.1.2 Energy Bars
5.1.3 Other Snack Bars
5.2 Distribution Channel
5.2.1 Hypermarkets/Supermarkets
5.2.2 Convenience Stores
5.2.3 Specalist Retailers
5.2.4 Online Retail Stores
5.2.5 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Nestle S.A.
6.3.2 General, Mills Inc.
6.3.3 Mars, Incorporated
6.3.4 Vitaco Holdings Ltd.
6.3.5 Carman's Fine Foods Pty Ltd
6.3.6 Mondelez International, Inc.
6.3.7 Tasti Products Ltd.
6.3.8 The Kellogg Company
6.3.9 Simply Good Foods Company
6.3.10 Post Holdings Inc.
6.3.11 Atkins Nutritionals, Inc.
6.3.12 Koja
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security