Boston, MA -- (ReleaseWire) -- 06/03/2014 -- Increasing health concerns are leading Russians to consume less calories and this is beneficial to nutritional food, leading to interest in snack bars witnessing healthy development. Despite the still poor levels of awareness, increasing education about eating habits had a positive impact on demand for snacks bars and similar products. The demand for new products supported sales of snack bars, which remains a relatively new product to the foods market. The increase in the pace of life had a positive impact on the development of the category, due to its convenience in consumption and yet advantageous effect on health.
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General Mills is set to lead retail sales of snack bars in 2013, followed by Tekmar Slovensko. The former holds the strongest position due to its multidimensional activity in Russia. The company has invested a great deal of effort to form a partnership with the modern retail chains and focuses on education around snack bars in Russia. Price remains one of the core obstacles for the rapid development of snack bars. Therefore, companies which offer a quality solution at a reasonable price find their products in high demand. The lower-priced alternatives of granola/muesli bars from Tekmar Slovensko led to the strong position of the company within snack bars.
Health awareness is expected to strengthen over the forecast period, which will lead more consumers to look for healthy alternatives for snacking and indulgence. This situation is expected to attract more manufacturers, which will fuel the category with healthy meal solutions. Snack bars is expected to receive greater consumer attention over the forecast period and generate an 11% constant value CAGR. More players will appear, with a variety of solutions. Snack bars will benefit from the accelerating pace of life, although this will be notable mostly in larger cities.
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The Snack Bars in Russia market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
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