Australia Snack Bar Market Report and Forecast 2024-2032

Australia Snack Bar Market Outlook

The Australia snack bar market size is projected to grow at a CAGR of 5.43% between 2024 and 2032.

Key Takeaways

• As indicated by the USDA, Australia's oat production for 2023/2024 is estimated at 1.1 million metric tonnes, consequently driving the demand for cereals, and muesli.

• Australia ranks second globally, contributing 10% to almond production, consequently driving the country's snack bar market, especially in energy bars where almonds are commonly utilized.

• As per the Department of Agriculture, Fisheries, and Forestry, the value of horticultural production is projected to achieve a new peak of $17.8 billion in 2024-25, leading to a rise in fruit production and subsequently increasing the demand for fruit bars.

Cereal bars contribute to the Australia snack bar market growth by offering the ability to be enriched with vitamins and minerals, providing a convenient means to supplement essential nutrients in one's diet

Cereal bars in the snack market offer convenience for busy lifestyles, aiding digestion with rich fibre, providing a diverse range of flavours, fortified nutrients, quick energy, and easy portion control.

Energy and nutrition bars cater to muscle growth with protein, act as meal replacements, enhance athletic performance, support post-exercise recovery, provide healthy fats, and dietary variety, and boast a long shelf life.

In 2023, Nuzest, an Australian nutra firm, introduced a multivitamin snack bar in APAC, the UK, and USA, offering an all-in-one nutritional boost featuring their Good Green Vitality supplement powder, encompassing 75 vitamins, minerals, probiotics, fibre, and essential nutrients. 

Market Segmentation

Australia Snack Bar Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Ingredient

• Dried Fruits

• Nuts

• Whole Grains

• Other

Market Breakup by Product Type

• Fruit Bar

• Cereals Bar

• Energy and Nutrition Bar

• Granola/Muesli Bar

• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Convenience Stores

• Online Stores

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

The Australia snack bar market key players are Nestle’ Australia Ltd., Carman’s Fine Foods Pty Ltd., General Mills Australia Pty Ltd., Kellogg (Aust.) Pty. Ltd., Atkins Nutritionals, Inc., Koja Health Pty Ltd., Mars, Incorporated, THG Nutrition Limited, Go Natural, and Bundys Health among others. 

Key Highlights of the Report