South America Snack Bar Market - Growth, Trends and Forecasts (2019 - 2024)

Market Overview

South America snack bar market is forecasted to grow at a CAGR of 9.34% during the forecasted period (2019 - 2024).

• The South American snack bar market is driven by the rapidly growing economic scenario that has heightened the spending on indulgent and snacking options.
• The rising health consciousness amid increasing prevalence in lifestyle diseases has enabled South American consumers to opt for healthy and sustainable snacking options.
• The free-form categories of snack bars that are devoid of ingredients, such as sugar, gluten, and GMO, which carry negative public-health opinions, are expected to significant sales in countries, such as Brazil and Argentina.

Scope of the Report

South America snack bar market offers a range of product types including cereal, energy and other snack bars distributed through supermarket/hypermarket, convenience store, specialty stores, online stores, and other point of sales. The report also covers the country level analysis for the major countries in the region such as Brazil and Argentina.

Key Market Trends

Brazil Dominates the Market

Brazil snack bar market is driven by increasing demand for healthy indulgence and rise in the new product development of different snack bars. The increase in dual-income households has prompted consumers to divert their spending on convenience and better-for-you foods. Gluten-free and low-sodium claims are fetching increasing popularity in the Brazilian snack bar market. Recently, Kobber, a Brazilian manufacturer of bakery and snack products, launched a line of snack bars, based on tapioca, which is free-from labeling claims. The flavorful innovation is evident in almost all the varieties of snack bars i.e. cereal bars, snack bars, fruit bars, and nut bars.

Energy Bars Emerge as the Most Preferred Snack Bar

The region is experiencing a robust preference for energy bars outstripping two major snacking categories i.e. cookies and confectionery. The diet trends are catching rapid attention among the health-conscious population, especially women consumers. South American cuisines, such as empanadas and tacos, provide exotic flavor options in snack bars including energy bars. Moreover, the locally grown ingredients, such as quinoa and amaranth, are widely utilized in different varieties of snack bars.

Competitive Landscape

South America snack bar market is highly fragmented owing to a large number of manufacturers present in the market. Some of the key players in the market are Kellogg Company, General Mills Inc., Nestle, and PepsiCo Inc. Companies in South America have been even observed to enter strategic partnership for expanding their presence in other regions to increase their product visibility.


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