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Saudi Arabia Snack Bar Market - Growth, Trends, and Forecast (2019 - 2024)

  • ID: 4622642
  • Report
  • Region: Saudi Arabia
  • 80 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2019
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FEATURED COMPANIES

  • Clif Bar & Company
  • General Mills Inc.
  • GoMacro LLC
  • Kellogg Company
  • NuGo Nutrition Inc.
  • Power Crunch
  • MORE
Market Overview

Saudi Arabia snack bar market is forecasted to reach USD 60 million by 2024 growing at a CAGR of 12% during the forecast period (2019 - 2024).
  • The increased consumption of sweet baked goods, sizeable young population and changing lifestyle demanding health & wellness products are the primary drivers for the market.
  • European and American companies hold a major portion of the Saudi Arabia snack bar market.
  • Convenience stores and supermarkets are the largest distribution channel for snack bar retail sale, which is expected to dominate during the forecast period.
Scope of the Report

Saudi Arabia snack bar market is available as a cereal bar, energy bars, and other snack bars. By distribution channel the market is segmented into, supermarkets/hypermarkets, convenience stores, specialty stores, online stores, and others.

Key Market Trends

Saudi Demands for Healthy Snacks

Snack consumption pattern in Saudi Arabia is different from other Middle East countries, where consumer prefers sweet baked and cereal products on multiple occasion. The snack bar is considered as a high-end premium baked products, which have less popularity among average Saudi consumer due to high price. The economic slowdown in the country has affected the cereal bar market growth. Consumer tastes for sweet bakery products are the primary factor driving the cereal/granola bar market. High fiber, low-sugar, gluten-free, and mix of grains in the snack bar are in high demand. Increased snacking habits among Saudi consumer, offer potential snack bar market opportunity for manufacturers to innovate products. Companies introducing healthier products in the comparable price range of baked good and confectionery attracts consumers.

Online Retail is Driving the Market

Changing lifestyle in Saudi Arabia has driven the sales of the modern retail channel, such as supermarkets/hypermarkets and online stores. Multiple brand product availability at discount prices offer an opportunity for companies to expand sales. The online retail platform has successfully established itself as a convenient marketplace, offering a wide range of snack bars, ranging from meal-replacement options to the indulgent ones. Prominent online channels, such as Souq.com, evitamins.com, mezmiz.com offer discounts, and convenience, supported market growth and have reportedly witnessed a surge in the sales of functional snack bars, contributed by packaging design, label claims, and a repetitive pattern of snack consumption.

Competitive Landscape

New product launch is the major strategy adopted by players followed by new packaging introduction. Companies are focusing on health & wellness products, such as high protein energy bars with reduced calories for the targeted young population. European and American company’s brands, such as cliff bar, quest Nutrition, Nature’s Plus holds a dominant position in the market.
Note: Product cover images may vary from those shown
2 of 5

FEATURED COMPANIES

  • Clif Bar & Company
  • General Mills Inc.
  • GoMacro LLC
  • Kellogg Company
  • NuGo Nutrition Inc.
  • Power Crunch
  • MORE
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY
3.1 Market Overview

4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Cereal Bars
5.1.1.1 Granola Bars
5.1.1.2 Others
5.1.2 Energy Bars
5.1.3 Other Snack Bars
5.2 By Distribution Channel
5.2.1 Hypermarket/Supermarkets
5.2.2 Convenience Stores
5.2.3 Online Channel
5.2.4 Specialist Retailers
5.2.5 Other Distribution Channels

6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 General Mills Inc.
6.4.2 Kellogg Company
6.4.3 Premier Nutrition Corporation
6.4.4 Clif Bar & Company
6.4.5 GoMacro LLC
6.4.6 NuGo Nutrition Inc.
6.4.7 Power Crunch
6.4.8 Simply Good Foods Co.

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Note: Product cover images may vary from those shown
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  • General Mills Inc.
  • Kellogg Company
  • Premier Nutrition Corporation
  • Clif Bar & Company
  • GoMacro LLC
  • NuGo Nutrition Inc.
  • Power Crunch
  • Simply Good Foods Co.
Note: Product cover images may vary from those shown
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