United Kingdom Snack Bar Market Outlook to 2023: A $1.3 Billion Opportunity - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 26, 2018--The “United Kingdom Snack Bar Market - Segmented by Product Type and Distribution Channel - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The UK snack bar market is expected to reach USD 1.3 billion by 2023, witnessing a healthy CAGR during the forecast period. The UK snack bar consumption crossed 47.32 million kg in 2017, with cereal bar segment as the largest market. Cereal and granola bar segment dominates the market, which is expected to continue during the forecast period.
Increased demand for health & wellness products, convenient and on-the-go snacking, innovative products, and packaging are driving the snack bar market size. Rising consumer focus on sports nutrition products provides a snack bar market opportunity for companies. High competition from snacks and breakfast cereals is affecting the snack bar market growth.
New product launch focusing on new flavor, nutrient, and health claim is the major strategy adopted by players. Companies are focusing on health & wellness products, such as high-protein energy bar with reduced calories for the targeted young population. Kellogg Co. holds a dominant position in the UK snack bar market share with a wide range of cereal and breakfast bars. Introduction of small startups and various international players are posing tough competition to the existing players.Key HighlightsOn-the-Go Snacking in High DemandUK Population Prefer Breakfast Bar
Key DevelopmentsAduna launched energy bars from African super food, which contains high fiber, essential vitamins, and minerals. The products include Banana Boost powered by Baobab Superfruit, Berry Bite powered by Hibiscus Super flower, and Choc-Orange Burst powered by raw Cacao.Kellogg’s launched Special K protein-rich cereal bars with natural and plant-based ingredients, such as nuts, seeds, grains, and soy.
Key Topics Covered
2. Research Approach and Methodology
3. Market Overview
4. Market Segmentation
5. Competitive Landscape
6. List of Company ProfilesAbbott LaboratoriesAssociated British Foods plcDorset Cereals Ltd.Doves Farm Foods Ltd.Eat Natural Ltd.General Mills Inc.GlaxoSmithKline plcMars Inc.Maxinutrition Ltd.Mondelez International Inc.Natural Balance FoodsThe Kellogg Company
For more information about this report visit https://www.researchandmarkets.com/research/c6x99m/united_kingdom?w=4
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Related Topics:Snacks and Confectionery
KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 09/26/2018 08:28 AM/DISC: 09/26/2018 08:28 AM