LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the snack bars market in the US provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Akash Pandey, a lead analyst at Technavio for food research, “The snack bars market in the US is growing slowly due to the increasing health and wellness trends among consumers. Increasing health consciousness and changing lifestyles are the two factors contributing toward the growth of the snack bars market in the US. The snack bars offer high nutritional value, and convenience, as they can be consumed while traveling, between meals, and workouts.”
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The top three emerging market trends driving the snack bars market in the US according to Technavio research analysts are:
- Increasing demand for organic snack bars
- Rise in demand for vegan snack bars
- Demand for high-protein snack bars
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Increasing demand for organic snack bars
The popularity of organic packaged foods among the US consumers is increasing, as they prefer purchasing food products that are free from artificial ingredients. Consumers are concerned about the origin and quality of the ingredients used in the preparation of food products. Organic snack bars are becoming increasingly popular among health-conscious consumers, and the rapid expansion of supermarkets and hypermarkets plays a key role in making these products easily accessible to consumers.
Rise in demand for vegan snack bars
A vegan diet is a part of the larger vegan lifestyle. It strongly advocates animal rights and environmental concerns. Consumers who lead a vegan lifestyle, popularly called as vegans, make a conscious effort to stay away from products derived from animals, be it food; clothing; or accessories. They opt for healthy substitutes for meat, dairy, and other conventional sources of protein.
A vegan diet is perceived to be healthier than a meat-based one. It is estimated that about 8 million of the US population follows a vegan diet and lifestyle. With the increasing vegan culture, packaged foods like granola bars that have vegan specifications are becoming increasingly popular among consumers. Thus, players are coming with more varieties of vegan snack bars such as Earnest Eats Vegan Chewy Granola Bars, Oriole Gluten Free Organic Vegan Granola bar, and others.
Demand for high-protein snack bars
More than four-fifths of US consumers have snacks at least once a day. Protein and fiber are the two ingredients consumers look for in snack bars. Different consumer groups such as millennials, baby boomers, and others are takers of high-protein snack bars. Manufacturers use protein and fiber formulations in their snack bars to capture the consumer attention.
“As plant-based proteins are rich sources of protein as well as fibers, they are being used as ingredients in the manufacture of snack bars. For example, pea protein is used in the making of snack bars, as it contains around 90% of protein. In addition to that, it is highly digestible and gluten-free. It is ideal for those who follow diets that have a low glycemic index,” says Akash.
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