London — Wellness trends and changing consumer lifestyles are anticipated to invigorate the snack bar market, according to Technavio, with organic, vegan and high-protein products expected to see strong sales.
“Increasing health consciousness and changing lifestyles are the two factors contributing toward the growth of the snack bars market in the U.S.,” says Akash Pandey, lead analyst for food research. “Snack bars offer high nutritional value, and convenience, as they can be consumed while traveling and between meals.”
Consumer interest in organic products is crossing over to the snack bar market, and Technavio reports popularity of items making this claim will increase. Additionally rapid expansion of supermarkets and hypermarkets in emerging regions will play a key role in making these products more accessible.
Additionally, increasing consumer interest in vegan diets will drive interest in snack bars and manufacturers have anticipated this demand by offering more varieties falling under the vegan banner, according to Technavio.
Demand for high-protein foods are also expected to lift snack bar sales. The nutrient, along with fiber, are the leading two factors consumers seek out in these types of products, the research company reports.