Saudi Arabia Snack Bar Market - Growth, Trends, and Forecast (2019 - 2024)

The Saudi Arabian Snack Bar Market is segmented on the basis of Type (Cereal Bars, Energy Bars, and Other Snack Bars) and Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Speciality Stores, Online Stores, and Other Distribution Channels).

Market Snapshot

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Study Period:

2016-2024

Base Year:

2018

CAGR% (2019-2024):

12%

Key Players:

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Saudi Arabia Snack Bar Market

The Saudi Arabian snack bar market is expected to reach USD 60 million by 2024, registering a CAGR of 12% during the forecast period (2019 - 2024).

  • The increased consumption of sweet baked goods, a sizeable young population, and  changing lifestyles, demanding health and wellness products, are the primary drivers for the market.
  • European and American companies hold major shares in the Saudi Arabian snack bar market.
  • Convenience stores and supermarkets are the largest distribution channels for the retail sales of snack bars. They are expected to dominate the market, during the forecast period. 

Scope of the Report

The Saudi Arabian snack bar market is segmented on the basis of type, into cereal bars, energy bars, and other snack bars. By distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, specialty stores, online stores, and other distribution channels.

By Product Type
Cereal Bars
Granola Bars
Others
Energy Bars
Other Snack Bars
By Distribution Channel
Hypermarket/Supermarkets
Convenience Stores
Online Channels
Speciality Stores
Other Distribution Channels

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Key Market Trends

Saudi Demands for Healthy Snacks

The snack consumption pattern in Saudi Arabia is different from that of the other Middle Eastern countries. The consumers prefer sweet baked and cereal-based products, on multiple occasions. Snack bar is considered to be a high-end, premium baked product, which is less popular among the average Saudi consumers, due to its high price. The economic slowdown in the country has affected the growth of the cereal bar market. The consumers' taste for sweet bakery products is the primary factor driving the cereal/granola bar market. High fiber, low sugar, gluten-free, and mix of grains, in the snack bar, are in high demand. The increased snacking habits among the Saudi consumers offer potential market opportunities for the manufacturers, to innovate products. Companies, by introducing healthier products within the comparative price range of baked goods and confectionery, attract consumers.

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Online Retail is Driving the Market

Changing lifestyles in Saudi Arabia have driven the sales in modern retail channels, such as supermarkets/hypermarkets and online stores. The availability of multiple branded products, at discounted prices, offers an opportunity for the companies to expand their sales. The online retail platform has successfully established itself as a convenient marketplace, offering a wide range of snack bars, ranging from meal-replacement options to the indulgent ones. Prominent online channels, such as Souq.com, evitamins.com, and mezmiz.com, offer discounts and convenience. These factors have supported the market growth and have reportedly led to a surge in the sales of functional snack bars. This was also a result of packaging design, label claims, and a repetitive pattern of snack consumption.

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Competitive Landscape

New product launch is the major strategy adopted by the players, followed by the introduction of new packaging. Companies are focusing on health and wellness products, such as high protein energy bars with reduced calories, for the targeted young population. The European and American brands, such as cliff bar, quest Nutrition, and Nature’s Plus, hold dominant positions in the market.

Major Players

  1. General Mills Inc.
  2. Kellogg Company
  3. Premier Nutrition Corporation
  4. Clif Bar & Company
  5. GoMacro LLC

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Cereal Bars

        1. 5.1.1.1 Granola Bars

        2. 5.1.1.2 Others

      2. 5.1.2 Energy Bars

      3. 5.1.3 Other Snack Bars

    2. 5.2 By Distribution Channel

      1. 5.2.1 Hypermarket/Supermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Online Channels

      4. 5.2.4 Speciality Stores

      5. 5.2.5 Other Distribution Channels

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market-share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 General Mills Inc.

      2. 6.4.2 Kellogg Company

      3. 6.4.3 Premier Nutrition Corporation

      4. 6.4.4 Clif Bar & Company

      5. 6.4.5 GoMacro LLC

      6. 6.4.6 NuGo Nutrition Inc.

      7. 6.4.7 Power Crunch

      8. 6.4.8 Simply Good Foods Co.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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