“Energy Bar Market Size, Share – Growth, Trends, And Forecast (2018 – 2023)”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
The Middle East & Africa energy bar market is expected to reach USD 57.5 million by 2023 at a CAGR of 7.3%, during the forecast period 2018-2023.
Major Companies Include are:
General Mills, Inc., Quest Nutrition Llc, The Kellogg Company, Clif Bar & Company, Rise Bar, Amongst Others.
The Middle East & Africa energy bar volume sale surpassed 1.9 million Kg in 2017 with Egypt and UAE the largest market.
Energy and nutrition bar continued its growth during the forecast period. Energy bar market includes sports nutrition bars and snack bars designated to meet both daily and sports nutrition needs. International flux and large expatriate population, high GDP per capita, rising number of health conscious and meal replacement trend are various factors fueled the Energy Bar market growth. Economic downturn in countries, such as Saudi Arabia affected the consumer purchasing behavior and increase of price level.
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Impulse and Indulgence Driving sales
Indulgence remains the key trend in confectionery sales, which drives snack bar market. About 50% of the population in UAE are below 30 years, which prefer snacking as fun and enjoyment. Large the young population who are shifting snacking consumption driving the sales. Consumers are always on the move due to busy lifestyle, which created a demand for convenient on-the-go snack option. The demand for the healthier snack is growing in the region with more preference for high protein and nutrition intact snack.
Innovative flavors, packaging, and convenience attract consumer and drive impulse purchasing.
Change in snack consumption pattern with consumers demanding for healthier products is expected to continue. Rising obesity and diabetic population in the region is another factor triggered the demand for healthy snacking. The annual snack bar sales in the Middle East & Africa crossed 12.8 million Kg in 2016, which is growing at a faster rate. Expanding supermarket/hypermarkets in the region driven impulse buying behavior of consumers offering discounts and multiple varieties.
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UAE the Largest Market
The retail sale of UAE packaged food market is valued at USD 4.7 Billion in 2016, with snack food growing at a faster rate. High protein snack products, convenient pack size, and packaging material, are on rise among consumers. On-the-go snacking is the primary energy bar market trends. Emerging free-from, organic, vegan, and raw food trend in UAE is expected to drive energy bar demand. Supporting efforts from government to fight from health-related issues, increased awareness among consumers. Many leading retailers expand their selection of healthier food products on shelves to cater consumer growing demand for healthy products. The health & wellness food product market in UAE valued at USD 1.25 billion, with organic, free-from food is increasing at double-digit growth rate. Companies are innovating a product that is healthy, high protein, and exotic flavors.
Key Developments in the Energy Bar Market: –
November 2016 – Gulf Capital invested majority stake in UAE online retail Sporter.com that distributes sports and nutrition products online. Sporter.com has a lion share in GCC online retail for nutritional supplements. The online sports and nutrition product sales in GCC accounts for 7% of the distribution market share.
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Reasons to Buy Energy Bar Market Report: –
– Analyzing 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
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value (USD Million) and volume (Kg Million) 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 strategies employed by the major market players
– 3-month analyst support, along with the Market Estimate sheet in excel.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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