Market Trends of Saudi Arabia Snack Bar Industry
This section covers the major market trends shaping the Saudi Arabia Snack Bar Market according to our research experts:
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.
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.
