Market Overview
Brazil Snack Bar Market is forecasted to reach USD 1 billion by 2024, witnessing a CAGR of 10.48% during the forecast period (2019 - 2024).
Scope of the Report
Brazil Snack Bar Market is segmented by Type as Cereal Bar includes Granola/Muesli Bars and other Cereal Bars, Energy Bars, Other snacks bar. By Distribution channel as Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others.
Key Market Trends
Cereal Bars Are The Preferred Choice In Brazil
A cereal bar is one of the fastest-growing segments in the Brazilian snack bar market, based on their taste and culture. Cereal bars are considered to be one of the trending options for healthy breakfast choice, especially among office-goers, owing to their convenience factor over the usual breakfast cereals. Gluten-free and low-sodium claims are also 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 energy bar segment is also growing at a faster rate of 9.4% in the region, owing to rising interest in protein-rich snacks.
Supermarket/Hypermarkets Driving The Snacks Bars Sale
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. Supermarkets/hypermarkets provide a super-sized shopping experience, with suitable display and assortments of indulgent snacking products. Prominent online channels, such as Amazon, 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
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 are The Kellogg Company, Nestlé SA, The Hershey Company, and PepsiCo. Inc., and Alfred Ritter GmbH & Co. KG, among others.
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Brazil Snack Bar Market is forecasted to reach USD 1 billion by 2024, witnessing a CAGR of 10.48% during the forecast period (2019 - 2024).
- 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.
- The increase in dual-income households has prompted consumers to divert their spending on convenience and better-for-you foods.
- 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.
Scope of the Report
Brazil Snack Bar Market is segmented by Type as Cereal Bar includes Granola/Muesli Bars and other Cereal Bars, Energy Bars, Other snacks bar. By Distribution channel as Supermarkets and Hypermarkets, Convenience Stores, Online Retail, Others.
Key Market Trends
Cereal Bars Are The Preferred Choice In Brazil
A cereal bar is one of the fastest-growing segments in the Brazilian snack bar market, based on their taste and culture. Cereal bars are considered to be one of the trending options for healthy breakfast choice, especially among office-goers, owing to their convenience factor over the usual breakfast cereals. Gluten-free and low-sodium claims are also 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 energy bar segment is also growing at a faster rate of 9.4% in the region, owing to rising interest in protein-rich snacks.
Supermarket/Hypermarkets Driving The Snacks Bars Sale
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. Supermarkets/hypermarkets provide a super-sized shopping experience, with suitable display and assortments of indulgent snacking products. Prominent online channels, such as Amazon, 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
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 are The Kellogg Company, Nestlé SA, The Hershey Company, and PepsiCo. Inc., and Alfred Ritter GmbH & Co. KG, among others.
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned
A selection of companies mentioned in this report includes:
- Nutrimental S.A.
- Gramando-Rs
- Levitta
- Nestle S.A.
- Alfred Ritter Gmbh & co.kg.
- Pepsico Inc.
- The Hershey Company
- The kellogg company
Methodology
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