Snack bars are lightweight, easy to carry snack food which is popular because of its nutritious and high-calorie content. They are often combined with honey or corn syrup and are condensed to form a bar which makes it easy to carry for packed lunches, hiking or other outdoor activities.
The major growth driver for the snack bar market is the increased demand for the on-the-go food, owing to the busier lifestyles. The increased awareness among consumers about healthy eating has also increased the demand for snack bars, replacing chocolates, cakes, and biscuits as the go-to snacks.
The major market restraints include the high initial investment in technology, brand marketing and regulatory compliance regarding quality and labeling.
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