The Italian energy bar market is expected to witness a CAGR of 5.6% during the forecast period, 2020-2025.
- Increased preference for health and wellness snack bar is the primary driver for the market. Energy bar market includes sports nutrition bars and snack bars, designated to meet both daily and sports nutrition needs.
- Moreover, the growing demand for organic snacking, indulgence, meal replacement, and on-the-go snacking are various factors that fuel the energy bar market growth.
Key Market Trends
Rising Healthy Snacking Trend
Increased consumer awareness for a healthier ingredient that provides nutritional benefits fueled the energy bar market. Consumer prefers functional fruits and grains, such as berries, hemp, chia, flaxseed in a snack bar that improves the nutritional content of the product. Impulse purchase has driven the market than healthy eating. However, health-oriented products, such as high fiber, low calorie, high protein, and natural ingredients claims on the product are gaining popularity. The snack bar is perceived to have a healthier alternative to chocolates and confectioneries, which also drives the impulse purchasing as a treat. The organic snack bar is growing popularity among consumers due to its health benefits. Busy lifestyle, coupled with meal replacement, makes snack bar an excellent snack products. Convenient and small packs allow the consumer to snacking at multiple occasions in smaller quantities.
Increased Penetration of Organised Retail
The evolving retail industry is marked by the emergence of many stores in the hypermarket, supermarket, and convenience stores segments. Comfort and convenience are increasingly becoming important to customers because of their hectic lifestyles and work schedules. Moreover, with the increase in preference for clean-label branded products among consumers, the importance of organized retailers selling clean-label energy bars has also increased. The penetration of organized retail will also enable consumers to seek information about various brands, compare prices, nutritional content, which results in a better purchase decision.
Innovative product launch and clean label ingredients are the various strategies adopted by major players. Private label brands provide tough competition to the existing players with their flavored product offerings. Some of the major players in the Italian energy bar market are Enervit, Abbott, Barrette Proteiche Glucidi, among others.
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