Snack Bars Market Expected To Expand At A CAGR Of 6.9 percent During 2019-2027Posted by Giselle on February 23rd, 2021 The latest market report published by Acute Market Reports “Snack Bars Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the snack bars market was valued at US$ 21.67 Bn in 2018 and expected to grow at a CAGR of 6.9% during the forecast period from 2019 to 2027. Market Insights "Growing demand for healthy snacks worldwide will boost the growth for Snack Bars Market" The snack bars market is majorly driven by a surge in demand for healthy snack products along with growing snack food sales worldwide. The growing awareness for health and fitness among people globally is anticipated to enhance the snack bars market growth in years to come. North America dominated the snack bars market in 2018. The rise in consumer preference for nutritional and smaller meals is further expected to drive the market demand over the forecast period. The growing obesity cases among children and adults are anticipated to enhance market growth during the forecast period. According to a recent report of the World Health Organization, more than 1.9 Bn adults were overweight out of which 650 Mn were obese. The growing product popularity for go-to snacks and busy lifestyle is projected to enhance the market growth in years to come. Major manufacturers are launching new snack bars with high nutritional value for healthy eaters. For instance, In October 2019, The Kellogg Company introduced a new brand TIG. The brand TIG had launched four types of snack Bars- Buffalo, Chili Lime, Pizza and BBQ with non-GMO, Nut-free and gluten-free. Major market players are projected to focus on various strategies such as new product launch, acquisitions, mergers, and collaborations among others to increase their market share, enhance their product portfolio and geographic presence. Industrial Developments • In October 2017, The Kellogg Company acquired Chicago Bar Company LLC. With the acquisition of Chicago Bar Company LLC, The Kellogg Company will enhance its product portfolio to enhance its market share in the U.S. Key Market Movements: • The global snack bars market is expanding at a CAGR of 6.9% in revenue terms for the anticipated period from 2019 to 2027 List of Companies Covered: • Nature Valley Browse the full report at https://www.acutemarketreports.com/report/snack-bars-market The Global Snack Bars Market is Segmented into:
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