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

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

The Spanish snack bar market is forecast to register a CAGR of 5.7%, during the forecast period (2020 - 2025).

Key Highlights

• The Spanish snack bar market is driven by its culinary diversity, which promotes a wide range of innovation, not only in terms of ingredients composition, but also in terms of taste and flavor profiles.
• Out-of-home consumption among Spanish consumers has gradually increased amid the consolidation of economic recovery, driving the sales of savory snack categories.
• The ingredients for snack bars have rapidly evolved to include high protein variants, such as insect flour. Recently, the supermarket giant, Carrefour, launched snack bars that include bug-based ingredients.

Key Market TrendsRising Demands for High Protein

The increasing demand for high protein incorporated products has successfully penetrated the snacks market. Owing to the convenience factor and health orientation of protein bars, the consumption of protein bars has risen in recent years and is estimated to grow exponentially during the forecast period. Recent market growth has been fueled by dynamic product innovation across a range of categories. Health remain one of the most important factors driving innovation and investments by manufacturers.

Granola/ Muesli Bars on Demand

Granola/ muesli bars remain the highest consumed independent category of snack bars in the country. Moreover, the intense promotional campaigns undertaken by key global brands, such as Kellogg Co., Nestle, Mercadona, etc., have led to the effective penetration of the healthy snacking category within Spanish households. The introduction of new flavors with additional healthy components, such as yogurt, cranberries, and nuts, like almond, has proved to be the major drivers for the segment growth in the country.

Competitive Landscape

The Spain snack bar market is fragmented, owing to low market concentration. Some of the key players dominating the market are Kellogg Company, General Mills Inc., Associated British Foods PLC, and Nestlé. The intense promotional campaigns undertaken by the key global brands, such as Kellogg Co., Nestle, Mercadona, etc., have led to the effective penetration of the healthy snacking category within Spanish households.

Additional Benefits:

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

Companies Mentioned

The Kellogg Company
General Mills Inc.
Associated British Foods PLC
Nestle SA
PepsiCo
Clif Bar & Company
Abbott Nutrition Manufacturing Inc.
Post Holdings, Inc.
KIND Snacks

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