Hyderabad, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "UAE Snack Bar Market Report (2023-2028)," the market is estimated at USD 1.46 billion in 2023. It is expected to register a CAGR of 4.52% during the forecast period.
Snack bars are effective in providing instant energy and nutrition. They contain proteins and several flavoring ingredients. Snack bars are ready-to-eat baked products that contain ingredients like oats, chocolate, granola, dried fruits, and peanut butter, among others.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 1.46 billion |
| Market Size (2028) | USD 1.83 billion |
| CAGR (2023-2028) | 4.52% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | The growing preference for healthy alternative snacks. |
| The increasing prevalence of urbanization and busy lifestyles. |
Who are the Top Companies in the UAE Snack Bar Market?
The UAE snack bar market is highly fragmented in nature and consists of many market players. The market in the region is expected to grow due to the growing habit of eating healthy snacks. Market players are offering clean-label, vegan, gluten-free products to cater to consumer demand.
Significant players in the UAE snack bar market are,
- Kellogg's Company
- General Mills Inc.
- The Simply Good Foods Company
- Mondelēz International Inc. (Clif Bar & Company)
- Nestlé SA
- PepsiCo Inc.
- Natural Balance Foods
- Mars Incorporated
- Rise Bar
- Associated British Foods PLC
- Glanbia PLC
- TNF Middle East
- Nature Foodtech
Other Reports That Might Be of Your Interest:
- Asia-Pacific Snack Bar Market Report - The Asian-Pacific snack bar market is expected to register a CAGR of 6.25% during the forecast period (2023-2028).
- Thailand Snack Bar Market Report - The Thai snack bar market size is estimated at USD 30.65 million in 2023. It is expected to reach USD 39.60 million by 2028, registering a CAGR of 5.26% during the forecast period (2023-2028).
Key Highlights from the UAE Snack Bar Market Report:
Demand for Snack Bars as Meal Replacement
- The United Arab Emirates is witnessing high disposable incomes. The region has more millennials and witness busy lifestyles. Therefore, consuming snack bars provides them with instant energy and is also a convenient option.
- The demand for packaged food containing healthy ingredients is increasing in the region due to consumers’ preference for healthy snacking options.
E-commerce Segment Witnessing Massive Sales
- E-commerce sales of snack bars registered significant growth due to the increasing internet penetration rate in the country. The United Arab Emirates is ranked among the best global countries in terms of digital government transformation, per the World Bank GovTech Maturity Index 2021.
- Due to urbanization and the working population in the region, consumers are choosing e-commerce websites to purchase snack bars due to the convenience and faster delivery options offered by them.
What are the Latest Developments in the UAE Snack Bar Market?
- In April 2023, Atkins launched its new bar flavors like Atkins Endulge Almond Craze Bar and Atkins Crunchalicious Bar.
- In February 2023, Nature Foodtech launched its snack bar at Gulfood, the biggest food and beverage show in the Middle East, Dubai.
Mordor Intelligence has Segmented the UAE Snack Bar Market Based on Product Type and Distribution Channel:
- By Product Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Cereal Bars
- Granola/Muesli Bars
- Other Cereal Bars
- Energy Bars
- Other Snack Bars
- By Distribution Channel (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Supermarket/Hypermarket
- Convenience/Grocery Store
- Specialty Stores
- Online Retail Stores
- Other Distribution Channels
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the UAE Snack Bar Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- South Africa Snack Bar Market Report - The South African snack bar market is expected to register a CAGR of 11.48% during the forecast period (2023-2028).
- Brazil Snack Bar Market Report - The Brazilian snack bar market is expected to register a CAGR of 17.85% during the forecast period (2023-2028).
- Germany Snack Bar Market Report - The German snack bar market size is estimated at USD 319.16 million in 2023. It is expected to reach USD 413 million by 2028, with a CAGR of 5.29% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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