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The Brazil snack bar market is expected to reach USD 844 million by 2023, witnessing a healthy CAGR during the forecast period, 2018-2023. Economic downturn affected the retail volume sale of the snack bar, while the value sale is growing at a faster rate. The Brazil snack bar sale crossed 23 million kg in 2017, with a cereal bar segment having the largest market share.
Increased snacking trend, as a result of a busy lifestyle, is the primary driver for the market. Growing demand for health & wellness products, convenient packaging, and preference for cereal-based snacks are various factors fueling the snack bar market growth. Expanding supermarket/hypermarket chains offering multi-brand products is further accelerating the sale. Competition from cereal products and biscuits is another factor affecting the market sale.
Convenient On-the-go Package Demand
Small packs and multipacks of snack bar have performed well in the market, owing to convenience. Brazilians love to snacks at various times in a day. The snack bar is a healthy meal replacement for the busy on-the-go consumers. Supermarket/hypermarket offering a massive discount on a variety of multipacks is driving the snack bar market demand.
Multipack snack bars in smaller pack sizes offer various verities and attract impulse purchase. New flavors and exotic grains are accelerating granola bar market. Economic impact in Brazil paves the way for innovative, affordable package in FMCG retail sale. Small pack sizes are the potential snack bar market opportunity. Consumers’ restraining budget is affecting the bulk purchasing of snack bars. Though the unit price for smaller packs is higher, it is the key strategy adopted by companies for retaining consumers in the category, comparatively. High-protein, high-fiber, and functional snack bars offering satiety are gaining popularity in the market. About 45% of Brazilians demand high-fiber snacks, while 29% look for snack bars to satisfy hunger between meals.
Increased health and wellness trend among adults and the working population has mostly accelerated energy bar sale in the country. Owing to increased obese population among the Brazilians, low-calorie and low-sugar snack bars are expected to perform well compared to the traditional snack bars.
Supermarket Driving the Snack Bar Sale
Brazil dominates the snack bar market in South America, holding a market share of % in 2016. Cereal bar sale in Brazil reached USD 286 million in 2017 occupying the most significant share in the market. Consumer taste for cereal-based and sweet bakery goods is driving the granola bar market in Brazil. The energy bar segment is growing at a faster rate of 9.4% in the region, owing to rising interest in protein-rich snacks.
Supermarket/hypermarket led the sales, with a share of more than 70% in the distribution channel. Snack bar sales, through specialist retailers and variety stores, which are growing at a faster pace, owing to health & fitness trend. Walmart, a retail channel, invested in Brazil to expand its presence in the emerging market. Consumers tend to shop for smaller items at local retail stores, while they prefer to shop at the supermarket for bulk discounts.
Key Developments
January 2018 - Kobber launched tapioca snack bar in Brazil in four flavors, including chocolate, milk caramel, guava jam, and coconut and condensed milk. The product contains tapioca flakes and is marketed as gluten-free with low calorie.
October 2017 - Kellogg’s company reported an increase in sales after its acquisition of Brazilian Food Company Parati Group, which was the leading snack company in Latin America. This acquisition resulted in the strategic expansion of Kellogg’s in emerging markets with a strong presence.
The Brazil snack bar market is concentrated among major players, occupying a major share in the market. Product introduction focusing on regional grains, such as tapioca and healthy ingredients, to attract consumers is the primary strategy adopted by the players.
Major Players - THE KELLOGG COMPANY, NESTLÉ SA, THE HERSHEY COMPANY, PEPSICO. INC., AND ALFRED RITTER GMBH & CO. KG amongst others.
Reasons to Purchase the Report
Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, 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
Country-level analysis integrating the demand and supply forces that are influencing the growth of the market
Market value (USD million) and volume (million kg) data for each segment and sub-segment
Distribution channel sales analysis, by value
Competitive landscape involving the market share of major players, along with the new product launch and strategies adopted by players in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategy 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
Increased snacking trend, as a result of a busy lifestyle, is the primary driver for the market. Growing demand for health & wellness products, convenient packaging, and preference for cereal-based snacks are various factors fueling the snack bar market growth. Expanding supermarket/hypermarket chains offering multi-brand products is further accelerating the sale. Competition from cereal products and biscuits is another factor affecting the market sale.
Convenient On-the-go Package Demand
Small packs and multipacks of snack bar have performed well in the market, owing to convenience. Brazilians love to snacks at various times in a day. The snack bar is a healthy meal replacement for the busy on-the-go consumers. Supermarket/hypermarket offering a massive discount on a variety of multipacks is driving the snack bar market demand.
Multipack snack bars in smaller pack sizes offer various verities and attract impulse purchase. New flavors and exotic grains are accelerating granola bar market. Economic impact in Brazil paves the way for innovative, affordable package in FMCG retail sale. Small pack sizes are the potential snack bar market opportunity. Consumers’ restraining budget is affecting the bulk purchasing of snack bars. Though the unit price for smaller packs is higher, it is the key strategy adopted by companies for retaining consumers in the category, comparatively. High-protein, high-fiber, and functional snack bars offering satiety are gaining popularity in the market. About 45% of Brazilians demand high-fiber snacks, while 29% look for snack bars to satisfy hunger between meals.
Increased health and wellness trend among adults and the working population has mostly accelerated energy bar sale in the country. Owing to increased obese population among the Brazilians, low-calorie and low-sugar snack bars are expected to perform well compared to the traditional snack bars.
Supermarket Driving the Snack Bar Sale
Brazil dominates the snack bar market in South America, holding a market share of % in 2016. Cereal bar sale in Brazil reached USD 286 million in 2017 occupying the most significant share in the market. Consumer taste for cereal-based and sweet bakery goods is driving the granola bar market in Brazil. The energy bar segment is growing at a faster rate of 9.4% in the region, owing to rising interest in protein-rich snacks.
Supermarket/hypermarket led the sales, with a share of more than 70% in the distribution channel. Snack bar sales, through specialist retailers and variety stores, which are growing at a faster pace, owing to health & fitness trend. Walmart, a retail channel, invested in Brazil to expand its presence in the emerging market. Consumers tend to shop for smaller items at local retail stores, while they prefer to shop at the supermarket for bulk discounts.
Key Developments
January 2018 - Kobber launched tapioca snack bar in Brazil in four flavors, including chocolate, milk caramel, guava jam, and coconut and condensed milk. The product contains tapioca flakes and is marketed as gluten-free with low calorie.
October 2017 - Kellogg’s company reported an increase in sales after its acquisition of Brazilian Food Company Parati Group, which was the leading snack company in Latin America. This acquisition resulted in the strategic expansion of Kellogg’s in emerging markets with a strong presence.
The Brazil snack bar market is concentrated among major players, occupying a major share in the market. Product introduction focusing on regional grains, such as tapioca and healthy ingredients, to attract consumers is the primary strategy adopted by the players.
Major Players - THE KELLOGG COMPANY, NESTLÉ SA, THE HERSHEY COMPANY, PEPSICO. INC., AND ALFRED RITTER GMBH & CO. KG amongst others.
Reasons to Purchase the Report
Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis
Market dynamics, 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
Country-level analysis integrating the demand and supply forces that are influencing the growth of the market
Market value (USD million) and volume (million kg) data for each segment and sub-segment
Distribution channel sales analysis, by value
Competitive landscape involving the market share of major players, along with the new product launch and strategies adopted by players in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategy 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
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