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

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

United States Snack Bar Market is expected to grow at a CAGR of 4.5% during the forecast period.

Consumer demand for convenient and health on-the-go snack options has by-far been the primary attribute for sales of snack bars in the country.

Key Highlights

• The changing lifestyle of consumers involving the consumption of smaller meals is further leading to the increased consumption of snacks, which is expected to propel the demand for snack bars. Owing to the availability of a wide range of flavors within various snack bar categories, the demand for snack bars grew considerably.

Key Market TrendsIncreasing Consumption of Convenient, on-the-go Meal, and Snack Options

According to the United States Department of Agriculture (USDA), consumers in the United States spends more than half of their food budget on convenient foods including a snack bar, thereby driving the consumption of snack bars in the country.

In the United States, the majority of consumers prefer snack bars to satisfy hunger by replacing a meal. For instance, according to FoodBev Welch's survey conducted in 2017, around 92% of millennial were reported consuming snacks (including snack bars) as a meal replacement at least once a week. Also, around 26% of the millennial population in the United States consume snacks as a meal replacement.

Granola/Muesli Bars is the Leading Segment

Granola/muesli bars are among the leading category with organic claims in the United States. Kind and Nature Valley brands are the leading brands in granola bars marketplace, owing to its portfolio expansion and effective distribution strategy.

The new players are posing greater challenges in product development and cost competitiveness, in order to produce granola/muesli bar which has drastically affected the sales of key giants, such as Kellogg Company and General Mills.

Competitive Landscape

The snack bar market in the United States is consolidated, with the presence of major companies having various potential brands of snack bars in their product portfolio. Major giants, such as PepsiCo., Inc. accounted for a considerable share, with its three popular brands Gatorade, Naked, and Quaker.

The market has a presence of several privately-owned and family-oriented companies, such as Kind Snacks, Mars Inc., Cliff Bar & Company, and Natural Balance Foods. Caveman LLC has a unique product portfolio of snack bars, i.e. the products are made up of paleo-inspired ingredients, which is primarily of nuts, seeds, fruit, vegetables, and lean meats.

Additional Benefits:

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

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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