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The global snack bar market was valued at US$ 24.0 Billion in 2021.
We expect the global snack bar market to exhibit a CAGR of 5.65% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of snack bar.
The increasing consumer preference for healthy and convenient snacking options, such as snack bar, along with the introduction of vegan snack bar with little or no quantity of sugar, is primarily driving the global snack bar market.
Based on the product type, the global snack bar market can be segmented into cereal bars, energy and nutrition bars, and others. Currently, cereal bars hold the majority of the total market share.
Based on the ingredient, the global snack bar market has been divided into nuts, whole grains, dried fruits, and others. Among these, whole grains currently exhibit a clear dominance in the market.
Based on the distribution channel, the global snack bar market can be categorized into supermarkets and hypermarkets, convenience stores, specialty stores, online stores, and others. Currently, supermarkets and hypermarkets account for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global snack bar market include Abbott Laboratories, Associated British Foods plc, Clif Bar & Company, General Mills Inc., Halo Foods Ltd., Mars Incorporated, Nestlé S.A., Ocado Retail Limited, PepsiCo Inc., The Hain Celestial Group Inc., The Kellogg Company, and The Simply Good Foods Company.
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