Source: Kellogg Co., Mondelez International, General Mills, Lenny & Larry’s, Clif Bar & Co.
Bars are booming in new product launches, despite the fact that snack, nutrition and performance bars comprised one of the food categories to post sales declines in 2020, according to Mintel’s 2021 US Snack, Nutrition and Performance Bars Industry Report. But a rebound is coming, the market researcher said.
The reduction in away-from-home activity during the COVID-19 pandemic hampered growth for the segment, which dipped nearly 6% in sales declines. However, key drivers of the bar category remain strong, including interest in healthier snacks, functional foods and holistic living trends. These indicators point to a bar market recovery, Mintel said.
As the country begins to open back up and consumers resume their busy lifestyles, they will seek new flavors, healthy indulgence and functional benefits from bars, Mintel said. High-protein, keto-friendly and indulgent offerings are currently drawing consumer interest and are among the top trends in new bar launches.
The surge in recent innovation indicates that the bar bounce-back is not far off.
Source: Slideshow: The bar bounce-back | 2021-06-16 | Food Business News
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