Boston, MA -- (ReleaseWire) -- 06/26/2014 -- Awareness of snack bars among Iranian consumers remained very low in 2013 as these products were not available in most retail outlets. Relatively high unit prices also made various consumers reluctant to switch from well known and affordable snacks such as chips/crisps, fruit, countlines and biscuits to snack bars. However, fruit bars, which are also known as lavashak and which have a long standing presence in Iran, have become increasingly popular especially among young consumers. Therefore, snack bars recorded total volume growth of 13% in 2013 which was significantly stronger than the review period CAGR of 8% and which indicates that this immature category has strong growth potential in Iran.
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Galin Golchin Co remained the leading player in snack bars in 2013, accounting for a retail value share of 38%. The company commenced operations in 1964 and it grew rapidly by introducing different flavours of fruit bars to Iranian consumers. In 2013, its flavour variants included plum, black cherry, maroon, apple, pomegranate, dogberry, strawberry, lemon and fruit mix. Improvements in distribution have been one of the key pillars of success for this company as it has been able to target consumers all over the country rather than having only localised presence.
Snack bars is expected to achieve strong total volume growth over the forecast period. Young Iranian consumers who have a desire for new and interesting snacks are expected to form the main target group of suppliers of snack bars in Iran. While fruit bars is expected to remain the dominant category, other categories such as energy bars are expected to emerge and expand over the forecast period. For example, sesame-based products, which have proven very popular among consumers, are expected to be launched in the form of energy bars. In addition, multinational players are potentially expected to launch products in fruit bars and energy bars as well as to target high-income consumers. Therefore, snack bars is expected to grow by a total volume CAGR of 8% over the forecast period, which will be very similar to the review period CAGR.
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The Snack Bars in Iran 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
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Snack Bars in Iran?
- What are the major brands in Iran?
- Are sales benefitting as consumers look for a healthier alternative to confectionery?
- What are the market opportunities for high fibre products?
- What are the other major snack bars markets globally?
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Product coverage: Breakfast Bars, Energy and Nutrition Bars, Fruit Bars, Granola/Muesli Bars, Other Snack Bars.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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