Austria Snack Bar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Austria Snack Bar Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Austria Snack Bar market is projected to grow at a CAGR of 2.66% during the forecast period (2020 - 2025).

Key Highlights

• Consumers are shifting towards healthier snacking options, and snack bars serve as a healthier alternative to chocolate or confectionery products.
• A healthy diet has become a trend amongst Austrians, who are increasingly becoming nutrition savvy and are paying attention to labels, along with their diets. This is not only to keep in shape but also to keep diseases at bay, especially from very serious illnesses, such as obesity and diabetes.
• The competition for procuring more raw materials and stringent regulations are the major restraining factors that impede the growth of the Austrian snack bar market.

Key Market TrendsBreakfast Bars likely to Register Highest Growth Rate

Breakfast bars are marketed as healthier snack alternatives to several products, like confectionery, biscuits, and cakes. Moreover, they serve as a replacement to general muesli or cereals, particularly among the office goers, because of the convenient ‘on the go’ trend. Consumers are replacing meals with breakfast bars for nutrition. Bars high in protein and fiber content and low in carbohydrates, are influencing the preferences of consumers in the snack bar market. Some of the most popular trends in the breakfast bar segment include label claims, such as “gluten-free” and “high in fiber or added fiber”. The snacking trend has even come up with the term “second breakfast”, which refers to mid-morning munch for people at their office desk.

Hypermarket/Supermarket Segment Accounted For Largest Share

Several Austrian firms have their distribution channels across the neighboring markets of Central and Eastern Europe at wholesale as well as retail levels. By distribution channel, the Austrian snack bar market was led by hypermarkets/supermarkets with a highest share, followed by discounters. Also, the discounters are expected to register the highest growth rate during the forecast period, owing to their pricing strategy, promotional activities, and availability of variety of products. Snack bars are sold primarily through supermarkets/hypermarkets in most regions. As these cutlets are abundantly available in most of the areas in the region, people prefer to buy daily groceries including, snack bars. There has been an increase in the sale of snack bars through the supermarket/hypermarket chains, due to the availability of new styles and flavors of snack bars across the shelves.

Competitive Landscape

The Austria snack bar market is highly competitive with key international players, such as General Mills, Nestle, Mars Inc., and CLIFF bar. Companies are coming up with several marketing strategies for strong positioning of their snack bars, such as clean label campaigns and product launches, with several developments, like the raw label, meat-based bars, plant-based protein bars, and others. Various food processing companies have merged with larger national or foreign companies, so as to secure their position in the larger, matured European market. For instance, all leading retailers in Austria are part of a large German retailer group with one exception, i.e., Spar (International Spar Centrale BV). Other major retailer groups in the country include Rewe Group and Aldi Group.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Clif Bar(LUNA BAR)
General Mills
Hero Group
MARS, Incorporated
Post Holding
Nature Balance Foods
Olimp Sports Nutrition
Isostar
Nestle

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