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.
- 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.
- 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.
Companies are coming up with several marketing strategies for strong positioning of their snack bars, such as clean label campaigns and product launches, with several developments, like raw label, meat-based bars, plant-based protein bars, and others.
Major Players: General Mills, Hero Group, Kellogg’s, Nestlé, and Post Holdings, among others.
Reasons to Purchase the Report
- Market outlook, with recent trends and Porter’s five forces analysis
- Market dynamics that are driving the present market scenario, along with future growth opportunities of the market
- Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic factors
- Country-level analysis, integrating the demand and supply forces that are influencing the market growth
- 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 that are employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definitions
2. Research Approach and Methodology
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modelling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Trends
4. Market Dynamics
4.1.1 Changing Consumer Preferences and Daily Habits
4.1.2 Developments in Distribution Channel
4.2.1 High Volatility in Raw Material and Production Costs
4.3.1 Rising Popularity of Value Added Snack Bar
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products & Services
4.4.5 Degree of Competition
4.5 Consumer Behavior Analysis
4.5.1 Consumer Demand Analysis
4.5.2 Target Market Identification
184.108.40.206 Purchasing Power
220.127.116.11 Demographic Strengths and Weaknesses
18.104.22.168 Spending Patterns
5. Market Segmentation
5.1 By Product Type
5.1.1 Breakfast Bars
5.1.2 Energy and Nutrition Bars
5.1.3 Granola/Muesli Bars
5.1.4 Fruit Bars
5.1.5 Other Snack Bars
5.2 By Distribution Channel
5.2.2 Convenience Stores
5.2.3 Specialist Retailers
6. Competitive Landscape
6.1 Strategy Adopted by Key Players
6.2 Most Active Companies in the Past Five Years
6.3 Market Share Analysis
7. Company Profiles
7.2 Eat Natural
7.3 Clif Bar (Luna Bar)
7.4 Natural Balance Foods
7.5 Hero Group
7.6 Mars, Inc.
7.9 General Mills
7.10 Post Holdings