Market Trends of north america snack bar Industry
Rising health consciousness among consumers, along with the availability of various branded snack bars across the region, resulted in higher sales
- In North America, snack bars are highly preferred by working professionals as a replacement for oil-based snacks. In 2023, Americans consumed snack bars as a grab-and-go convenience product, and 75% of US consumers devoured snack bars on a regular basis.
- In the snack bars segment, brand loyalty acquires the first position under product attributes. In North America, it was observed that 43% of consumers are choosing snack bars of their preferred brands. Crunch Plus, Nature Vallye, One, ProBar, and MxBar are some brands holding higher market shares.
- In 2023, snack bars witnessed a hike in their sales. The sales growth was linked to the healthy eating habits of consumers. The sales of snack bars were promoted by highlighting their benefits and replacing oily snacks with healthy snack bars. In 2023, snack bar products recorded a Y-o-Y growth of USD 2.34 compared to 2022.
- In North America, the consumption of snack bars is generally viewed from a health perspective. With the availability of snack bars in different flavors, they are enjoyed as healthy treats by the young generation. In the United States, there are a few additional factors to consider from a health perspective in the context of snack bar consumption, including ingredient significance.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Consumers demanding snack bars with label-friendly claims such as organic, high-protein, non-GMO, and gluten-free are fueling the segment in North America
