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Austria Snack Bar Market Insights
The Austria snack bar market is expected to register a CAGR of 2.66% during 2018-2023 (the forecast period).
Changing Consumer Preferences and Daily Habits
Consumers are shifting toward healthier snacking options, and snack bars serve as a healthier alternative to chocolate or confectionery products. A healthy diet has become a trend amongst Austrians, who are increasingly becoming nutrition savvy, paying attention to labels and their diets.
The ingredients and flavors of snack bars play an important role in the process of gaining more market share. The competition for procuring more raw materials and stringent regulations are the major restraining factors that impede the growth of the Austria snack bar market.
With the highly competitive nature of the market, many products use multiple positioning and claims. This is a huge opportunity for the Austria snack bar market, as the players want to gain more market shares based on the differentiation of their product.
Breakfast Bars likely to Register Highest Growth Rate
The breakfast bars segment is expected to register a CAGR of 2.84% during the forecast period, as consumers are replacing meals with breakfast bars for nutrition. Bars high in protein and fiber content and low in carbohydrates, are influencing the preferences of consumers in the snack bar market.
By distribution channel, the hypermarket/supermarket segment accounted for a share of 55.42% in 2017, and is expected to register a CAGR of 2.68% during the forecast period.
Key Development
• January 2018 - Cliff Bar & Company’s LUNA® Bar, the first nutrition bar for women, launched LUNA Rica™. Luna Rica is a ‘breakable’ organic fruit & nut bar with delicious nut butter filling.
• February 2017 - Kellogg’s Special K brand added new chewy Caramel Almond Sea Salt and Rich Chocolate Coconut Cashew flavors to its previous Nourish Snack Bar flavors of Cranberry Almond and Chocolate Almond.
The major players include - KELLOGG’S, EAT NATURAL, CLIF BAR (LUNA BAR), NATURAL BALANCE FOODS, HERO GROUP, MARS, INC., NESTLÉ, MAXSPORT, GENERAL MILLS, POST HOLDINGS, amongst others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis, including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet in excel
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs
The Austria snack bar market is expected to register a CAGR of 2.66% during 2018-2023 (the forecast period).
Changing Consumer Preferences and Daily Habits
Consumers are shifting toward healthier snacking options, and snack bars serve as a healthier alternative to chocolate or confectionery products. A healthy diet has become a trend amongst Austrians, who are increasingly becoming nutrition savvy, paying attention to labels and their diets.
The ingredients and flavors of snack bars play an important role in the process of gaining more market share. The competition for procuring more raw materials and stringent regulations are the major restraining factors that impede the growth of the Austria snack bar market.
With the highly competitive nature of the market, many products use multiple positioning and claims. This is a huge opportunity for the Austria snack bar market, as the players want to gain more market shares based on the differentiation of their product.
Breakfast Bars likely to Register Highest Growth Rate
The breakfast bars segment is expected to register a CAGR of 2.84% during the forecast period, as consumers are replacing meals with breakfast bars for nutrition. Bars high in protein and fiber content and low in carbohydrates, are influencing the preferences of consumers in the snack bar market.
By distribution channel, the hypermarket/supermarket segment accounted for a share of 55.42% in 2017, and is expected to register a CAGR of 2.68% during the forecast period.
Key Development
• January 2018 - Cliff Bar & Company’s LUNA® Bar, the first nutrition bar for women, launched LUNA Rica™. Luna Rica is a ‘breakable’ organic fruit & nut bar with delicious nut butter filling.
• February 2017 - Kellogg’s Special K brand added new chewy Caramel Almond Sea Salt and Rich Chocolate Coconut Cashew flavors to its previous Nourish Snack Bar flavors of Cranberry Almond and Chocolate Almond.
The major players include - KELLOGG’S, EAT NATURAL, CLIF BAR (LUNA BAR), NATURAL BALANCE FOODS, HERO GROUP, MARS, INC., NESTLÉ, MAXSPORT, GENERAL MILLS, POST HOLDINGS, amongst others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
• Market dynamics which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
• Market segmentation analysis, including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
• Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• 3-month analyst support, along with the Market Estimate sheet in excel
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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