Friday October 26, 2012
U.S. Snack Bar Market Continues Growth
New York — The snack bar market has grown at twice the rate of other snack foods and almost three times the rate of the overall packaged food sector during the past 10 years, according to Rabobank Group's report, titled “Never Eat More Than You Can Lift.”
According to the report, Clif Bar & Co. is among the category leaders, along with General Mills, Inc. and The Kellogg Co.
The report indicates the economic recession had almost no impact on the segment, which more than doubled to almost $6 billion, with an average compound annual growth rate of 6.4 percent. The category includes breakfast, energy, nutrition, fruit, granola and other bars, with energy and nutrition bars leading the market.
Rabobank's Food & Agribusiness Research and Advisory group examined the drivers behind the strong growth of the segment, identifying trends and indicating which companies are leading and which are trailing.
The report indicates that even though much expansion has occurred in recent years, the market still has significant growth potential.