The Snack And Non-alcoholic Beverage Bars by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Snack And Non-alcoholic Beverage Bars, The snack and non-alcoholic beverage bars market size has grown steadily in recent years. It will grow from $391.09 billion in 2023 to $409.43 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to changing consumer lifestyles and dietary preferences, convenience and on-the-go consumption, rising health consciousness and nutritional awareness, innovations in flavour profiles and ingredients, marketing and branding strategies.
The snack and non-alcoholic beverage bars market size is expected to see strong growth in the next few years. It will grow to $499.44 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to plant-based and functional ingredients, e-commerce and direct-to-consumer trends, global flavour fusion and culinary diversity, snacking as a social and leisure activity. Major trends in the forecast period include focus on sustainability and eco-friendly practices, expansion of non-alcoholic beverage offerings, integration of functional ingredients, focus on local and regional ingredients, engagement in social media and influencer marketing.
The rising demand for leisure and entertainment activities is expected to propel the growth of the snack and non-alcoholic beverage bars market going forward. Leisure is a state of mind typically characterized by spare time and willing optimism, while entertainment refers to a kind of activity that holds a viewer's attention and interest while also providing pleasure and delight. The rising interest by people in leisure activities such as pleasure, meditating, painting, and participating in sports and entertainment activities such as film, music, television, radio, and social media have grown considerably where people serve and consumes snacks, coffee and teas and non-alcoholic beverages. For Instance, in August 2022, according to the U.S. Bureau of Labor Statistics, the US-based federal agency for labour, people aged 15 and older engaged in leisure and sporting activities for 32 minutes longer per day in 2020 during the COVID-19 pandemic—5.5 hours as opposed to 5.0 hours. Also, every day, 10 minutes more are spent playing video games and utilizing the computer for pleasure. In 2020, there were an average of 7 minutes more spent each day relaxing and thinking. Therefore, the Rising demand for leisure and entertainment activities is driving the growth of snack and non-alcoholic beverage bars.
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The snack and non-alcoholic beverage bars market covered in this report is segmented –
1) By Product: Beverages, Food
2) By Snack Type: Frozen Snacks, Savory Snacks, Fruit Snacks, Confectionery Snacks, Bakery Snacks, Other Snack Types
3) By Pricing: High-End, Economy
4) By Outlet: Chained Outlets, Independent Outlets
Top Major Players:
- Starbucks Corporation
- Whitbread PLC
- Luigi Lavazza SpA
- Inspire Brands Inc.
- McDonald's Corporation
Asia-Pacific was the largest region in the snacks and non-alcoholic beverage bars market in 2023.
Strategic partnerships are a key trend gaining popularity in the snacks and non-alcoholic beverage bars market. Major companies operating in the snacks and non-alcoholic beverage bars market are undergoing partnerships to sustain their position in the market. For instance, in January 2023, Drinks Distilled, a UK-based beverages company announced a partnership with Crossip, a UK-based non-alcoholic spirits brand, and Seed Library to help drinkers navigate the world of no, low, and reduced abv spirits and serve. Furthermore, in December 2021, Strong Roots, an Ireland-based frozen foods company, and McCain Foods Limited, a Canda-based frozen foods company, have formed a strategic partnership with McCain investing $55 million USD in Strong Roots to acquire a minority stake. This strategic partnership aims to address the rising global demand for healthy and natural food, leveraging Strong Roots mission to fix the freezer aisle by providing plant-based, environmentally responsible food choices. Strong Roots aims to expand its presence in existing and new markets, leveraging McCain’s global reach, while McCain benefits from an expanded product portfolio catering to consumers seeking healthier, natural, and tasty meals.
The snack and non-alcoholic beverage bars market report table of contents includes:
1. Executive Summary
2. Snack And Non-alcoholic Beverage Bars Market Characteristics
3. Global Snack And Non-alcoholic Beverage Bars Market Trends And Strategies
4. Snack And Non-alcoholic Beverage Bars Market - Macro Economic Scenario
5. Global Size and Growth
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26. Global Snack And Non-alcoholic Beverage Bars Market Competitive Benchmarking
27. Global Snack And Non-alcoholic Beverage Bars Market Competitive Dashboard
28. Key Mergers and Acquisitions Snack And Non-alcoholic Beverage Bars Market
29. Snack And Non-alcoholic Beverage Bars Market Future Outlook and Potential Analysis
30. Appendix
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TheBusinessResearchCompany published its Bars And Cafes Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global bars and cafes market.
The report covers the Bars And Cafes market’s segments- snack and non-alcoholic beverage bars, drinking places (alcoholic beverages).Explore Complete Report https://www.thebusinessresearchcompany.com/report/bars-and-cafes-global-market-reportBars And Cafes Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Request to get the sample of this report https://www.thebusinessresearchcompany.com/sample.aspx?id=2201=smpTechnological advances are enabling beverage serving companies to deliver customized, convenient, fast and adaptable services.
Self-International, a Malaysian company, developed a printer that can print selfies of customers onto their coffee, making the coffee experience more personal, thereby increasing sales.
Bars, taverns and nightclubs are also increasingly offering technology-driven solutions and services.
Global Nonalcoholic Beverage Market is anticipated to reach USD 1.60 trillion by 2025.
Non-alcoholic beverages contain less than 0.5% alcohol.
Furthermore, increasing focus on R among key players with regards to low or zero-calories drinks is estimated to witness high growth in the years to come.On the other hand, there are factors that may hamper the growth of the market such as strict government rules and regulations related to the ingredients in non-alcoholic beverages and increasing awareness regarding among consumers regarding health hazards such as diabetes resulting out of excessive consumption of non-alcoholic beverages.
The market is anticipated to grow at a significant CAGR of 5.8% in the upcoming period as the scope, product types, and its applications are increasing across the globe.Download Full Research Report @ https://www.millioninsights.com/industry-reports/nonalcoholic-beverage-marketNonalcoholic Beverage Market may be explored by product, distribution channel and geography.
The “Functional beverage” dominated the Beverage Market in 2016 and anticipated to maintain its dominance by 2025.Nonalcoholic Beverage Market may be explored by distribution channel as Vending Machine Operations, Supermarkets and general merchandisers, Convenience Stores & Gas Stations, Food Service & Drinking Places, and Other.
The “Supermarket and Convenience stores” segment dominated the Nonalcoholic Beverage Market in 2016 and is anticipated to maintain its dominance by 2025.
The global snack bars market size is projected to reach USD 7.18 billion by 2025 expanding at a CAGR of 6.64% from 2019 to 2025, according to a new report by Radiant Insights, Inc. Changing consumer lifestyles and food patterns are expected to drive the demand for convenient food products, such as snacks bar.
Download Free Sample Report @ https://www.radiantinsights.com/research/snack-bars-market/request-sample Supermarkets/hypermarkets hold the dominant market share as these stores have a variety of products at discounted prices.
Developed countries, such as U.S, Japan, and China, have well-established markets for healthy bars.
On the other hand, emerging countries like India can offer new growth opportunities for the global market.
For instance, a Russian company called Bio Food Lab will expand its business in emerging countries of APAC.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/snack-bars-market Further key findings from the study suggest:• North America led the global snack bars market in 2018.
