South America Snack Bar Market

South America Snack Bar Market Analysis

The South America Snack Bar Market is expected to register a CAGR of 9.34% during the forecast period.

• The South American snack bar market is driven by rapidly growing economic scenario that has heightened the spending on indulgent and snacking options.
• The rising health consciousness amid increasing prevalence in the lifestyle diseases has enabledSouth American consumers to opt for healthy and sustainable snacking options.
• The free-from categories of snack bars that are devoid of ingredients, such as sugar, gluten and GMO, which carry negative public-health opinions, are expected to significant sales in countries, such as Brazil and Argentina.

South America Snack Bar Market Trends

Brazil Dominates the Market

Brazil snack bar market is driven by increasing demand for healthy indulgence and rise in the new product development of different snack bars. The increase in dual-income households has prompted consumers to divert their spending on convenience and better-for-you foods. Gluten-free and low-sodium claims are fetching increasing popularity in the Brazilian snack bar market. Recently, Kobber, a Brazilian manufacturer of bakery and snack products, launched a line of snack bars, based on tapioca, which is free-from labelling claims. The flavorful innovation is evident in almost all the varieties of snack bars i.e. cereal bars, snack bars, fruit bars, and nut bars.

Energy Bars Emerge as the Most Preferred Snack Bar

The region is experiencing a robust preference for energy bars outstripping two major snacking categories i.e. cookies and confectionery. The diet trends are catching rapid attention among health conscious population, especially women consumers. South American cuisines, such as empanadas and tacos, provide exotic flavour options in snack bars including energy bars. Moreover, the locally grown ingredients, such as quinoa and amaranth, are widely utilized in different varieties of snack bars.

South America Snack Bar Industry Overview

South America snack bar market is higly fragmented owing to a large number of manufacturers present in the market. Some of the key players in the market are Kellogg Company, General Mills Inc., Nestle, and PepsiCo Inc. Companies in South America have been even observed to enter strategic partnership for expanding their presence in other regions to increase their product visibility.

South America Snack Bar Market Leaders