The UAE energy bar market is projected to register a CAGR of 4.46% during the forecast period, 2020-2025.
- Increased influence of westernization, on-the-go healthy convenient packs size, and the growing demand for health and wellness products are among the various factors driving the market. The energy bar market includes sports nutrition bars and snack bars designated to meet both the daily and sports nutrition needs. Busy lifestyle demanding nutritional packaged products also fueled the market demand.
- Moreover, as the UAE government develops initiatives to increase health awareness, there is a high scope for products, which have health benefits, particularly with regard to obesity and diabetes.
Key Market Trends
Health & Wellness Snacking on Rising
Consumers are developing a western-style snack trend, demanding healthier products for munching during breaks. The appetite for health-related packaged food recently started to take off in the country. The younger people are becoming health conscious, influenced by international food culture. The rising obese population is another major factor accelerating the demand for healthier packaged products. Around 66% of men and 60% of women in the country are overweight and are looking for healthy snacking. High per capita income, import dependency for food, obese population, and potential demand for healthy snacks offer potential opportunities to manufacturers. About 50% of the population in the United Arab Emirates is below 30 years who prefer snacking for fun and enjoyment. The large young population is shifting snacking consumption, thereby, driving the sales. Consumers are always on the move due to a growing busy lifestyle, which has also given rise to energy bar sales.
Convenience stores and Supermarkets and Hypermarkets holds majority of the share
Convenience stores and supermarkets and hypermarkets led the sales, with a combined share of more than 50% in the distribution channel. Online retail recorded an impressive growth rate of XX%, during the forecast period in the United Arab Emirates. Online sales hold less market share of the energy bar sales driven by increased brand availability and convenience. Various international players are entering the energy bar market through online channels, mitigating the requirement for physical stores.
The UAE energy bar market is competitive with many foreign players occupying a major share. Innovative product launches and clean label ingredients are the various strategies adopted by these players. Some of the major in the market studied are Rise Bar, General Mills Inc., Nutrition, Inc. (Pureprotein), and Natural Balance Foods, among others.
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