India Snack Bars Market Report and Forecast 2024-2032

India Snack Bars Market Outlook

The India snack bars market size reached a value of approximately USD 5.42 billion in 2023. The market is projected to grow at a CAGR of 10.50% between 2024 and 2032, reaching a value of nearly USD 13.33 billion by 2032.

Key Trends in the Market

Snack bar refers to a versatile type of ready-to-eat product that is usually made of multiple healthy ingredients such as cereals, fruits, and nuts. These bars provide various health benefits, including high fibre content, vitamins and minerals, antioxidant components, and high protein content.

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• The snack bars market is being driven by various factors, such as changing consumer preferences towards healthy snacks. Consumers are becoming more aware of the importance of a balanced diet and they are increasingly seeking convenient and healthy food options, which is boosting the demand for snack bars that provide various nutrients such as proteins, carbohydrates, lipids, and fibre, among others.

• Snack bar manufacturers are continuously introducing innovative and bold flavours and integrating a wide range of ingredients to meet the ever-changing preferences of consumers. They are also actively exploring regional and international flavour profiles to provide unparalleled snacking experience. Moreover, there is a growing emphasis on utilising natural and organic components, responding to the increasing desire for products with transparent and wholesome labels.

• Functional snack bars, enriched with vitamins, minerals, fibre, or protein, are gaining popularity among health-conscious consumers as they target specific dietary needs or provide functional benefits like energy-boosting, weight management, or optimal gut health.

Market Analysis

Based on product, the market is segmented into cereal bars, and energy and nutritional bars, among others. The cereal bars segment is further divided by type into granola/muesli bars and other cereal bars. On the basis of ingredients, the market can be segmented into nuts, dried fruits, and whole grains, among others.

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The market, based on distribution channels, can be divided into supermarkets and hypermarkets, convenience stores, and online, among others. The major regional markets for snack bars include North India, West India, East India, and South India.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the India snack bars market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments and expansion plans.

• General Mills

• Mondelez International Inc.

• Kellogg Company

• M/s. Sproutlife Foods Private Limited

• UNIBIC Foods India Pvt. Ltd.

• Naturell India Pvt. Ltd

• Happilo International PVT. LTD

• Starcap Wellness Private Limited

• Fitshit Health Solutions Private Limited

• EAT Anytime

• Others

Market Share by Product

The energy and nutritional bars segment is anticipated to hold a significant share of the India snack bars market. The demand for such bars is rapidly growing owing to the rising health consciousness among consumers.

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The appeal of nutritional bars is also increasing rapidly as they can provide customers with a convenient and quick way to gain nutrients. Additionally, they are easy to carry, require no preparation, and can be consumed quickly, making them ideal for busy individuals or those who need a quick snack or meal replacement.

Market Share by Ingredients

The whole grains segment is likely to hold a significant share of the market during the forecast period. Whole grain snack bars cater to various dietary preferences and restrictions of individuals and are suitable for vegetarians and vegans.

Some brands also offer gluten-free options for individuals with gluten sensitivities or celiac disease. Moreover, whole grain snack bars often contain a combination of fibre, protein, and healthy fats, which can help promote a feeling of fullness and satiety.

Competitive Landscape

General Mills is a multinational food company headquartered in Minnesota, the United States. It is one of the world's leading producers of packaged consumer foods, specialising in cereals, baking products, snacks, yoghurt, and other related products. The company was founded in 1866 and since has developed a wide product portfolio through acquisitions and mergers.

Mondelez International Inc. is one of the major food manufacturing companies that specialises in the production and marketing of snack foods and beverages. The company is currently headquartered in Illinois, the United States. In 2012, Kraft Foods Inc. changed its name to Mondelēz International, Inc. and completed the spin-off of its North American grocery business, Kraft Foods Group, Inc.

Kellogg Company, commonly known as Kellogg’s by consumers, is a manufacturer of cereals and snack foods. The company was founded in 1906 and is currently headquartered in Michigan, the United States. Kellogg's is best known for its popular breakfast cereal brands, including Corn Flakes, Frosted Flakes, Rice Krispies, Special K, and Froot Loops. These cereals have become household names and are enjoyed by people of all ages around the world.

Other India snack bars market players include M/s. Sproutlife Foods Private Limited, UNIBIC Foods India Pvt. Ltd., Naturell India Pvt. Ltd, Happilo International PVT. LTD, Starcap Wellness Private Limited, Fitshit Health Solutions Private Limited, and EAT Anytime, among others.

Key Highlights of the Report