The South East Asia Snack Bar Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The South East Asia snack bar market is forecasted to witness a CAGR of 5.19% during the forecast period (2020 – 2025).
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the South East Asia Snack Bar Market: GRANOVA, Clif Bar & Company, KIND LLC, General Mills, Inc., Kellogg Company, General Nutrition Centers, Inc., Nesle SA, PRISTINE (Yogood), The Hut.com Limited (Myprotein), Amway Corp.
Key Market Trends
– There has been increasing demand from the South Asian consumers for the convenient and healthy on-the-go snack options,as most of the consumers in this region are experiencing fast-paced, active lifestyles. Therefore, the changing lifestyle, the increasing number of vistors visiting these countries, consumption of smaller meals at anytime of the day, is driving the consumption of snack bars in these countries, as they fullfill the apetitite, provide healthier eating option, and moreover are a value of money.
– A major factor restraining the growth of the snack bar in the South East Asian countries is the high price of these bars and lower consumer awareness, when compared to alternative snacks and other confectionery products. Consumer preference for clean-label ingredients is evidently high. Snack bar has opportunities within functional ingredients, reduced sugar, savory spins, and plant proteins in the region studied.
Propensity to Consume Convenient and Healthy On-the-go Meal and Snack Options
The demand for convenience foods is growing at a faster pace in the South Asian economies, owing to the changes in social and economical patterns, as well as increase in urbanization, buying power and awareness about health foods, changes in meal pattern and existing food habits, and the desire to taste new products. Therefore, the snack bars are becoming extremely popular, especially among the working classpeople, teenage children, people living in hostels, bachelors, and so on residing the country.
Moroever, snacking in Southeast Asia is also considered as a moment for sharing with family and friends, thus creating opportunities to adjust packaging for single serves for snacking in between meals or family-size packs for sharing, thereby driving the the snack bar market forward in the overall Asian region.
In fact, snacking is a large and growing behavior around the world , with around USD 1.2 trillion spent on snacking products every year (As per Mondel?z International). Therefore, the snacking products are predicted to grow at a faster rate, thus driving the market studied further.
Basic granola and breakfast/cereal bar sales are declining, and energy bars and fruit bars are taking the lead. While good-for-you ingredients like chia, quinoa, flax, spirulina, and hemp are increasing, beloved tastes like chocolate, nuts, coconut, and apple are even more popular all in the South East Asian countries. For instance Yogood, as snack bar brand from Malaysia, provides their snack bar range of products in different flavors such as CranberryMango, BlueberryCranberry, Choc&Nut, Strawberry, Wildberry, Chocolate Drizzle, and others, so as to induce more consumer to purchase their products.
Moreover, savory flavors and descriptors, such as spicy and salty, are on the rise. Ethnic flavors also continue to gain traction, as societies becomes more diverse, and world travel more common, particularly in the South Asian countries.
Influence Of The South East Asia Snack Bar Market Report:
-Comprehensive assessment of all opportunities and risk in the South East Asia Snack Bar market.
– South East Asia Snack Bar market recent innovations and major events.
-A detailed study of business strategies for growth of the South East Asia Snack Bar market-leading players.
-Conclusive study about the growth plot of South East Asia Snack Bar market for forthcoming years.
-In-depth understanding of South East Asia Snack Bar market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the South East Asia Snack Bar market.
The report has 150 tables and figures browse the report description and TOC:
What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.
Analytical Tools: The South East Asia Snack Bar Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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