Overview and Scope
Snack and non-alcoholic beverage bars refer to businesses that specialize in making and/or serving specialty snacks such as ice cream, frozen yogurt, cookies, or popcorn as well as non-alcoholic beverages such as coffee, juice, or soda.
Sizing and Forecast
The snack and nonalcoholic 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 flavor profiles and ingredients, marketing and branding strategies..
The snack and nonalcoholic 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 flavor 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 nonalcoholic beverage offerings, integration of functional ingredients, focus on local and regional ingredients, engagement in social media and influencer marketing..
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Segmentation & Regional Insights
The snack and nonalcoholic 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
Asia-Pacific was the largest region in the snacks and non-alcoholic beverage bars market in 2023. North America is expected to be the fastest-growing region in the snack and non-alcoholic beverage bars market report during the forecast period. The regions covered in the snack and nonalcoholic beverage bars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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 labor, 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.
Key Industry Players
Major companies operating in the snack and nonalcoholic beverage bars market report are Starbucks Corporation, Whitbread PLC, Luigi Lavazza SpA, Inspire Brands Inc., McDonald’s Corporation, Coffee Day Enterprises Limited, PepsiCo Inc., Nestlé SA, The Kellogg Company, Ediya Co. Ltd., General Mills Inc., Mars Incorporated, The Coca-Cola Company, Unilever PLC, Calbee Inc., Barista Coffee Company Limited, ITC Limited, HALO Foods Co. Ltd., Gloria Jean’s Coffees LLC, International Coffee & Tea LLC, JAB Holding Company, Stonegate Pub Company, Tully’s Coffee Corporation, Brinker International Inc., Berkshire Hathaway Inc., BJ’s Restaurants Inc., Danone SA, Monster Beverage Corporation, Red Bull GmbH, The Hershey Company, Mondelez International Inc., The Kraft Heinz Company, Keurig Dr Pepper Inc., Ocean Spray Cranberries Inc., Welch’s Foods Inc., Arizona Beverages USA LLC, Bai Brands LLC, KeVita Inc., Vita Coco Company Inc. .
The snack and nonalcoholic beverage bars market report table of contents includes:
1. Executive Summary
2. Snack And Nonalcoholic Beverage Bars Market Characteristics
3. Snack And Nonalcoholic Beverage Bars Market Trends And Strategies
4. Snack And Nonalcoholic Beverage Bars Market – Macro Economic Scenario
5. Global Snack And Nonalcoholic Beverage Bars Market Size and Growth
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31. Global Snack And Nonalcoholic Beverage Bars Market Competitive Benchmarking
32. Global Snack And Nonalcoholic Beverage Bars Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Snack And Nonalcoholic Beverage Bars Market
34. Snack And Nonalcoholic Beverage Bars Market Future Outlook and Potential Analysis
35. Appendix
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