India Snack Bars Market Report and Forecast 2023-2028

India Snack Bars Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the India snack bars market reached approximately USD 4.43 billion in 2022. Aided by the rising demand for on-the-go and nutritious food options and the escalating health consciousness among consumers, the market is projected to further grow at a CAGR of 10.60% between 2023 and 2028, reaching a value of USD 8.10 billion by 2028.

Snack bars encompass a variety of small, packaged foods intended for on-the-go consumption. These bars are typically high in protein, fibre, and carbohydrates, and come in a myriad of flavours, including fruits, chocolate, nuts, and cereals. They have emerged as a popular choice among health-conscious consumers, fitness enthusiasts, and individuals with busy lifestyles who require quick and nutritious meals or snacks.

The growing preference for healthy and convenient food products is a major driving force behind the India snack bars market growth. With hectic schedules and fast-paced lifestyles becoming the norm, Indian consumers are seeking out snack options that are not only easy to consume on the go but also nutritious. This trend is boosting the popularity of snack bars, which offer a balanced mix of protein, fibre, and carbohydrates.

In addition to this, the rising health consciousness among Indian consumers is also contributing to the India snack bars market demand. As the awareness of the health benefits associated with protein and fibre consumption increases, there has been a marked shift towards high-protein and high-fibre diets in India. This dietary shift is leading to a surge in demand for snack bars, which are often rich in these nutrients.

The broadening applications of snack bars are further bolstering the India snack bars market expansion. Snack bars are gaining traction as meal replacements, pre- and post-workout snacks, and weight-management foods, among other uses. They are becoming increasingly popular among athletes, fitness enthusiasts, and individuals looking to manage their weight or nutrition intake, thereby accelerating the India snack bars market expansion.

Moreover, the rising trend of veganism and the growing popularity of plant-based diets in India are leading to an increased focus on snack bars as a viable option for plant-based snacks. With a wide range of plant-based ingredients like nuts, seeds, and fruits, snack bars have emerged as a key product in the assortment of plant-based snack options, thereby aiding the India snack bars market growth.

Market Segmentation

The market can be divided based on product ingredients, distribution channel, and region.

Market Breakup by Product

• Cereal Bars
• Granola/Muesli Bars
• Other Cereal Bars
• Energy and Nutrition Bars
• Others

Market Breakup by Ingredients

• Nuts
• Dried Fruits
• Whole Grains
• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Online
• Others

Market Breakup by Region

• East India
• West India
• South India
• North India

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the India snack bars companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• General Mills
• Mondelez International Inc.
• Kellogg Company
• M/s. Sproutlife Foods Private Limited
• UNIBIC Foods India Pvt. Ltd.
• Naturell India Pvt. Ltd
• Happilo International PVT. LTD.
• Starcap Wellness Private Limited
• Fitshit Health Solutions Private Limited
• EAT Anytime
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.