The Italian Snack Bar Market by Product Type and Distribution Channel - Growth, Trends and Forecasts (2018-2023): Projected to Surpass $200 Million by 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 26, 2018--The “Italy 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 Italy Snack Bar Market is expected to cross USD 200 million by 2023, and is moving at a steady CAGR during the forecast period (2018-2023). The Italy snack bar consumption crossed 8.18 million kg in 2016, with cereal bars the largest market. Cereal and granola bar dominates the market while energy bar is growing at a faster rate.
Health & wellness products witnessed a steady growth rate in the past five years, which is supporting the energy bar market. On-the-go snack products offer convenience, and healthy alternative to a meal, innovation in products and packaging are various factors driving snack bar demand. Increased competition from snacks and breakfast cereals is affecting the snack bar market growth.
Rising Healthy Snacking Trend: Increased consumer awareness for a healthier ingredient that provides nutritional benefits fueled snack bar market. Consumer prefers functional fruits and grains such as berries, hemp, chia, flaxseed in a snack bar that improves the nutritional content of the product. Impulse purchase has driven the market than healthy eating. However, health-oriented products, such as high fiber, low calorie, high protein, and natural ingredients claims on the product are gaining popularity. The snack bar is perceived to have the healthier alternative to chocolates and confectioneries, which also drives the impulse purchasing as a treat. The organic snack bar is growing popularity among consumers due to its health benefits. Busy lifestyle coupled with meal replacement makes snack bar an excellent snack products. Convenient and small packs allow the consumer for snacking at multiple occasion in smaller quantity.
Cereal Bar in High Demand: Italians spend more on breakfast and cereal bars than energy bars. Cereal bars which include breakfast bars account for a significant share of the market followed by granola and muesli bars. Exotic high protein grains, such as chia seed, hemp, and quinoa in cereal bars offering increased nutritional benefits are accelerating granola/cereal bar sales. Energy bar accounts for the comparatively smaller share of 9% in the snack bar market, while is growing at a steady growth rate owing to consumer interest in high protein/energy based snacks. Organic cereal bar offers potential cereal bar market opportunity due to high demand for organic products.
New product launches focusing on new flavor, nutrient and health claim is the major strategy adopted by players. Innovating products with label claim, such as gluten-free, organic, all natural, high protein is the key focus of companies to compete for the market share.
Key Topics Covered
2. Research Approach and Methodology
3. Market Overview
4. Market Segmentation
5. Competitive Landscape
6. List of Company ProfilesAbbott Laboratories Barilla S.P.A. Barrette Proteiche Glucidi Enervit Hero Group Inko Italia S.r.l.u. Nestle S.A. Pesoforma Protein Delight Syform The Kellogg Company
For more information about this report visit https://www.researchandmarkets.com/research/6stkrv/the_italian_snack?w=4
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Related Topics:Snacks and Confectionery
KEYWORD: EUROPE ITALY
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 09/26/2018 09:03 AM/DISC: 09/26/2018 09:02 AM