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

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

The Spanish snack bar market is forecast to register a CAGR of 5.7% over the forecast period.

• The Spanish snack bar market is driven by its culinary diversity, which promotes a wide range of innovations in terms of ingredients composition and taste, and flavor profiles. The Spanish 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 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. Due to the current consumer demand, the manufacturers are concentrating on producing low sugar, high protein, low carbs products.

• The demand for organic snacking options is increasing due to the gaining health consciousness among consumers and the developing health issues resulting from hectic lifestyles. This changing trend has led savory snack manufacturers to produce snacking products that contain fiber, energy, and proteins.
• Consumers demand nuts and seeds and baked or roasted savory snacks that are comparatively less oily and healthier and could be equally beneficial in maintaining a healthy diet. This has resulted in companies creating products with the potential to increase nutritional intakes, sustain energy levels, and offer plenty of healthy options to the consumers while improving the quality of diet with the inclusion of fibrous ingredients likes oats, dried fruits, berries,, and corn, without compromising on taste.
• As people's income level rises, natural and organic snack products are witnessing soaring demands in Spain, and the concept has been prevailing in other markets as well. Also, there is increasing consumer demand for nutritious products with limited ingredients or claims like clean labels. Consumers are increasingly paying attention to the composition of food products and how this information is communicated on the packaging.
• "Clean label" responds to the growing consumer demand for information and transparency. This factor has fueled the growth of healthy savory snacks, including roasted and lightly spiced nuts and seeds. Companies are now adding the concept of healthy snacking that has evolved from eliminating nutrients such as carbohydrates, fats, or sugar to creating nutritionally balanced and nourishing products.
• Consumers are becoming aware of the ill effects of excessive oil, spices, sugar, and salt consumption. Moreover, snack manufacturers are innovating products without artificial additives and preservatives, with less sodium or salt, and are non-GMO, thus benefiting health-conscious consumers, all while introducing innovative flavors and health-boosting ingredients to attract consumers. Thus, the increasing demand for organic snacks is also opening newer avenues for savory snack manufacturers in the market studied.

• In Spain, a vast majority of adults consume cereal bars, with two-thirds of these interested in nutritionally beneficial bars. At present, stores are heavily flooded with all types of snack bars, like protein-rich bars, nutritious bars, gluten, and sugar-free bars, attracting various consumer groups. Moreover, in the energy/nutrition bar category, companies are coming up with new flavor and ingredient introductions, along with improvements in taste and mouthfeel, which have made the future of these products look a lot more interesting.
• Among the functional ingredients manufacturers use to vary the nutrition bar formula are CoQ10, L-carnitine, omega-3, resveratrol, and vitamin K2. 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.
• According to International Diabetes Federation (IDF), in 2022, 14.8% of adults in Spain have diabetes. Thus, consumers are becoming increasingly aware of the impacts of these habits. Therefore, in cognizance of this consumer trend that is surging upward, various developments have taken place in the Spanish market. For instance, in June 2022, KELLOGG'S SPECIAL K introduced delicious and convenient new protein snack bars for fueling up on the go.
• The market is primarily driven by consumer demand for healthy and convenient snacking options. The rising health awareness among individuals and the growing popularity of athletic and sports activities are further providing an impetus to the market. In line with this, the increasing prevalence of obesity and other lifestyle diseases boosts the market growth. Additionally, aggressive promotion campaigns conducted by key market players, coupled with heavy investments in collaborations with prominent sports and media personalities, are resulting in a higher product uptake on the global level. The market is also driven by introducing snack bars with innovative flavors and ingredients and their easy availability across online and offline organized retail channels. For instance, market players have introduced snack bars prepared with vegan ingredients with little or no quantity of sugar. Furthermore, rapid urbanization, the shifting dietary preferences among the masses, the launch of targeted-consumer products, and extensive research and development (R&D) activities are other factors supporting snack bar sales.

The Spain snack bar market needs to be more cohesive, owing to low market concentration. Some key players dominating the market are Kellogg Company, General Mills Inc., Associated British Foods PLC, and Nestlé, among others. New product development is the most adopted strategy and complies with the consumer trend, i.e., the target segment helps better position the company. The key players enter into partnerships with other major players or regional players to get a foothold in every country. The key players seek to acquire local players to continue dominating the market.

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