Bars are big business, so much so that the global snack bar sector witnessed sales of $13.2 billion in 2014, and the category is projected to have a compound annual growth rate (CAGR) of 4 percent from 2014 and 2019, according to Euromonitor International.
Growth in the global snack bar sector, including breakfast bars, energy and nutrition bars, fruit bars, granola/muesli bars and other snack bars, will continue to come from consumers choosing the snack bar as an in-between meal snack or a substitute for meals entirely, most notably breakfast. What’s more, growth in the energy and nutrition bar segment will be significant thanks to increased demand for products with a healthy halo and more transparency on ingredient lists. Increasingly, bars provide at least one functional component while fulfilling consumers' demands for products made with natural, more healthful ingredients.
So do has your company launched a new bar? If so, I invite you to enter the 4th Annual SupplySide CPG Editor’s Choice Awards that recognize innovative finished product launches from CPG companies. Key judging considerations will include flavor, functionality, innovation and ingredients used. Finalists will be showcased through the SupplySide Health & Nutrition Network brands, and winners announced at SupplySide West in Las Vegas, Oct. 5-9, 2015. Deadline for applications is July 31, 2015.
For nearly 20 years, SupplySide has helped those in the food, beverage, dietary supplement, animal nutrition, personal care and cosmetic industries break through the hype and ambiguity to find the information they need to explore, discover, innovate and market their next best-selling product.
Click here to view an image gallery of the Bars Category for 2014 SupplySide CPG Editor’s Choice Awards.
For more information about formulating bars download Food Product Design’s free digital issues “Straight to the Heart: Formulating Bars for Heart Health" and “Clean-Label Bars."