Boston, MA -- (ReleaseWire) -- 06/05/2014 -- Consumers' heightened exposure to information and international trends through the internet as well as overseas travel raised product awareness. Coupled with rising health consciousness, consumers were more willing to try products such as snack bars that were a healthier option to local breakfast items such as nasi lemak. Snack bars were also increasingly consumed as a snack instead of sweet/savoury snacks.
General Mills's retail value share declined in 2013 but the company retained its lead in snack bars with 44% of sales. While its Nature Valley is an established presence in snack bars, the company faced intensifying competition from players such as Quaker. Consumers' growing sophistication and willingness to try new snack bars brands further caused the player to lose value share.
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Snack bars is expected to register a retail value CAGR of 2% in constant terms over the forecast period, owing to rising health consciousness and sophistication among consumers. Increasing exposure to international trends will raise consumer awareness of and willingness to try products such as snack bars. Rising health consciousness will also encourage consumers to seek healthier food options to improve their diets and consequently benefit snack bars' performance over the forecast period.
Discover the latest market trends and uncover sources of future market growth for the Snack Bars industry in Malaysia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Snack Bars industry in Malaysia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Snack Bars in Malaysia 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 Malaysia?
- What are the major brands in Malaysia?
- 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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