Snack Bar Market Up According to a report by Rabobank’s Food & Agribusiness Research and Advisory group, the US market for snack bars has more than doubled to almost $6 billion over the past decade. “Snack bars have found broad appeal among a large consumer base that ranges from athletes to couch potatoes, from working mothers to professionals on the go.”
Snack Bar Market Up Many factors have contributed to the growth of the snack bar category:
- Multi-purpose appeal of snack bars to a broad range of consumers
- A trend toward increased snacking between meals
- Broad retail distribution in convenience stores
6.4% annually, according to the report. That far outpaces the 3.5% growth of the $34 billion savory snack market, including chips and pretzels, and modest 2.4% growth of the wider packaged food segment.
“Snack bars are one of the few bright spots in today’s U.S. processed food market,” said Nicholas Fereday, author of the report and Rabobank analyst. “By capitalizing on consumer trends and evolving demographics, snack bars have found broad appeal among a large consumer base that ranges from athletes to couch potatoes, from working mothers to professionals on the go.”
Several factors have helped drive the category’s success, according to the report. One of them is the multi-purpose appeal of snack bars to a broad range of consumers. For example, high-protein bars appeal to athletes looking to bulk up and to dieters trying to suppress their appetites.
Flexibility in where and when to eat snack bars also makes them attractive, relevant and convenient for today’s consumers. Another plus for the category, according to Rabobank, is a trend toward increased snacking between meals, which creates more eating occasions. Broad retail distribution in delis, dollar stores, gas stations and grocery stores encourage impulse consumption, a key driver in many snack and candy purchases.
According to the report there’s room for more growth in the snack bar category based on the consumer trend toward convenience, portability, health and wellness. For more Vending Business Blogs School Vending Machines Have A Healthy Option
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