Europe Snack Bar Market - Growth, Trends, and Forecasts (2023 - 2028)

Europe Snack Bar Market - Growth, Trends, and Forecasts (2023 - 2028)

The European Snack Bar Market was valued at USD 3,610.90 million in the current year, and it is projected to register a CAGR of 4.88% over the upcoming five years.

The European snack bar market is benefitting from consumers who prefer convenient on-the-go meal and snack options. The long-term rise in on-the-go snacking and the rise in snacking between meals has helped the snack bar market grow in the region. The focus on healthy eating has further benefited the market. The changing lifestyles of Europeans, involving the consumption of smaller meals, lead to increased consumption of snacks; hence, snack bars, being the healthier option, are witnessing increasing demand.

Snack bars are commonly perceived as a healthier alternative to chocolate or confectionery, but due to product variation, they also enjoy a strong image as a treat. Product innovation has been a key driver, supporting visibility and consumer interest, and helping to attract new clients to the market. Meat bars are gaining popularity, as they are a good source of clean and unprocessed protein. These products are savory instead of sweet and better at keeping sugar cravings at bay. The manufacturers are concentrating on producing low sugar, high protein, low carbs products due to the current consumer demand.

Consumers often prefer portable snack food that can offer both nutrition and convenience. Thus, snack bars are expected to gain popularity among the health-conscious population. Hence, companies are innovating healthier products with more portable or mini-sized packaging and different flavors. For instance, in July 2022, KIND, United Kingdom's snack bar brand, launched KIND Thins, a thin, chewy snack bar that is available in two different flavors, namely Dark Chocolate Nuts & Sea Salt and Caramel Nuts & Sea Salt. This factor is making snack bars increasingly attractive to time-pressed consumers. Additionally, the fast-paced European society and the increasing number of single households are the factors driving the demand for highly convenient food products, including snack bars. According to the Office for National Statistics, over the last decade, the proportion of persons living alone in United Kingdom climbed by 8.3%. In 2021, the proportion of one-person households ranged from 25.8% in London to 36.0% in Scotland. Therefore, stores are heavily flooded with all types of snack bars, like protein-rich bars, nutritious bars, and gluten- and dairy-free bars. As a result, these stores are attracting health-conscious consumers, which, in turn, is increasing the demand for on-the-go snacking in the region and, therefore, boosting the growth of the European snack bar market.

Kellogg’s is the leading snack bar brand in United Kingdom, and it has developed several products for its breakfast cereals portfolio, including the child-oriented Frosties bars and Special K bars. Cereal and snack bars cannot be sold in British schools under the guidelines of the School Food Trust (SFT). However, schools have started accepting them as part of a packed lunch, which serves as a treat for children and gains their attention for the product. Additionally, the English population is now consuming healthy snacks to stay fit. According to a survey conducted by Glanbia Nutritionals in 2021, in the United Kindom, almost half of the consumers (49%) who snack are more likely to choose healthy products at home than outside of the home and in the workplace at 10% each. The ongoing public focus on healthy eating has benefited the snack bars market in the country. Snack bars are widely perceived as a healthier alternative to products, like chocolate or confectionery. However, due to product variation, they also enjoy a strong image as a treat.

Kellogg’s and General Mills are two major players in the market. However, other players, such as Nestle and Post Holdings Inc., enjoy a significant share of the market. Whereas Alpen, Nature Valley, Kellogg's Special K, Go Ahead!, Jordans, and Kellogg's Nutri-Grain are the major brands leading the market. New product development is the most adopted strategy and is in compliance with the consumer trend, i.e., the target segment helps in better positioning of the company. The key players enter into partnerships with other major players or regional players so as to get a foothold in every country. The key players seek to acquire local players to continue dominating the market.

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