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Report
United Kingdom Snack Bar Market - Growth, Trends, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 90 Pages I Mordor Intelligence
The United Kingdom snack bar market is expected to register a CAGR of 5.6% during the forecast period.
Key Highlights
People's snack tastes have changed toward healthy snacking due to consumers' greater health consciousness and awareness of the nutritional benefits of their diets. Consumers' desire to swap out sugar and carbohydrates for beneficial ingredients has given rise to the idea of healthy snacking, which has raised the demand for snack bars. Nevertheless, particular claims like "high protein," "energy boosting," "immune support," and "digestive health" will continue to propel sales of snack bars and brands in the years to come.
Over the long term, the snack bar market is expected to be driven by the growing demand for portion-control replacement options and the reduction in average eating times of adults, especially among working-class consumers. Cereal bars have acquired greater importance as suitable breakfast replacement options.
Fruits and nuts are also featured in an increasing number of snack bars launched, as these ingredients have high health perceptions attached to them. There has been strong demand for a blend of ingredients, such as fruit, whole nuts, rolled oats, etc., that contribute to high nutrient density, coupled with exotic flavors, such as dark chocolate, to increase the product appeal.
Moreover, individuals' growing health consciousness and increased interest in athletic and sporting activities fuel the industry. In accordance with this, the rising incidence of obesity and other lifestyle illnesses is boosting market expansion.
UK Snack Bar Market Trends
Demand for Convenient and Healthy On-the-go Snacking
The demand for convenience foods is growing faster due to increasing awareness of healthy foods, changes in meal patterns and existing food habits, and the desire to taste new products.
The fast-paced lifestyle of the population has contributed to an on-the-go eating pattern in the country, with consumers preferring ready-to-eat healthy foods to accommodate their need for quick energy and nutrition. The stores in the United Kingdom are heavily flooded with various snack bars, ranging from protein-rich, nutritious, gluten-free, and dairy-free bars.
This extensive range of snack bar options aid in attracting a broad spectrum of consumers. Two-thirds of these consumers are interested in the nutritional benefits offered by these bars. End users in the country consume snack bars often for breakfast. However, snack bars are now being consumed for lunch and afternoon tea, with a growing number of consumers in the United Kingdom consuming products labeled "on-the-go" at least once a day.
Energy Bars Hold a Significant Share in the Market
Energy bars were first used as a meal replacement or an exercise aid by diet-conscious individuals and sportsmen. Also, the health benefits associated with energy bars attracted health-conscious consumers, creating a surge in their market share. This category of consumers rapidly transformed and increased energy bars' market share.
Energy bars are rapidly replacing breakfast bars, thus contributing to market growth. The market is driven by rising health awareness and consumers' increasing willingness to pay for healthier food options. Many consumers prefer energy bars to supplement their regular diet and substitute breakfast with one or two energy bars.
Further, the rising number of fitness enthusiasts, leading to increasing fitness club memberships, is also expected to propel the market demand further. Companies like Kellogg's have products with high-protein content in snack bars and multiple flavors, like caramel pretzel cashew protein, which includes ingredients, such as soy protein isolate, soluble corn fiber, cashew, palm kernel, soy lecithin, and palm oil, among other ingredients.
UK Snack Bar Market Competitor Analysis
The United Kingdom snack bar market is highly competitive owing to the presence of a large number of players. The key players in the market are The Kellogg Company, Weetabix Ltd, General Mills Inc., Y?ld?z Holding, Mars Inc., and Mars Incorporated. Product innovation is the most preferred strategy adopted by most key players in the snack bar market. Also, while developing new products, manufacturers are sensitive to consumer wariness and trends of choosing products suitable for healthy lifestyle choices. Thus, players offer products with international standards and certifications, such as organic, Kosher, and others.?
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 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
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 Supermarkets/Hypermarkets
5.2.2 Convenience Stores
5.2.3 Specialty Stores
5.2.4 Online Retail
5.2.5 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Adopted Strategies
6.3 Company Profiles
6.3.1 The Kellogg Company (Crunchy nut, Squares)
6.3.2 Weetabix Ltd (Alpen Bars, Alpen Light Bars)
6.3.3 General Mills Inc. (Nature Valley)
6.3.4 Yildiz Holding
6.3.5 Mars Incorporated (Wringley)
6.3.6 GlaxoSmithKline PLC
6.3.7 Clif Bar & Company
6.3.8 Lotus Bakeries (TREK, Nakd)
6.3.9 Natural Balance Foods Ltd (TREK, Nakd)
6.3.10 KIND LLC
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