The category includes a raft of other better-for-you products, led by weight management and meal replacement entries. The list goes on and on. Many product variants, better meets needs of consumer. Looking at the global juice drinks sector, coconut featured in more than 6% of global juice drink launches during 2014, up from 4. Finally, MetRx brought the high-protein market to the food bar industry and differentiated its product by using a branded protein mixture and appealing to a new group of consumers.
The information for this project has been provided by the owner of the company, Alexandra Ireland, along with some research and information obtained through coursework. Ample availability of substitute nutritional foods is expected to hinder the market growth. Over the past few years, cereal bars with reduced calories, fat or sugar have performed quite well, although the number of product introductions with these claims has fallen sharply in the last five years. For more information, call Veronica Franco at 240-747-3016 or visit www. Marketing and Sales Take advantage of one of the free crowdfunding platforms, like Kickstarter, to generate pre-launch buzz and to develop a tribe of loyal enthusiasts before launching regardless of whether you need the crowdfunding funds or not. For more information, visit Food bars have been generating sound and fury in the marketplace recently, posting double-digit growth rates for successful product types in the mass market as well as the natural products channel.
The primary consumers of the food bar market can be separated into three major segments: energy bars, sports bars, and weight loss bars. Determine Your Target Market The usual sequence for introducing new products starts with an idea, followed by product development. Product developers are considering an increasingly wide range of consumers including those interested in different sports, exercise regimes and levels of activity, also potentially subdivided by age and gender. Other energy bars on the current market have succeeded due to mass marketing, flashy advertising, and low prices. Companies are now developing their marketing programmes to include women, young and old, as well as occasional athletes, rather than just professional athletes and body builders. The companies include The WhiteWave Foods Co. It is specifically designed to provide marketing observations and recommendations for the organization.
Growing at an annual expected rate of 7. Snack bars Market Competitive Landscape The global snack bar market is a fragmented market consisting of many small and large players worldwide. Establishing your expert authority is crucial as part of the branding process. High Protein Bars the Way to Success in the Protein Bar Market High protein bars have a revenue share greater than two-fifth in the protein bar market by product segment and are expected to gain share over the forecast period. They are viewed as monopolies, because not only does one of many company within the industry have a bigger share of the market, but the company also has the power to adjust the prices on many of their commodity.
In 2012, the market took another key step forward to target more casual consumers and mass market channels. These athletes usually obtained products at competitive events that were geared towards the everyday consumer. Segmentation In Action One scenario that demonstrates the combination of the energy bar segmentation variables listed above could perfectly fit into a lifestyle of a young female college student living in Washington, D. Target Marketing Multi-segment targeting: More than two well defined market segments Children, teenagers and high sport performance athletes etc. Lara Mare A small start up firm, a year and a half old. Mintel said that as the industry continues to grow, so does the variety of potential customers, from extreme sportsmen and women to the office worker taking a meal replacement at his desk. Jungle Energy Bars aimed at the everyday on the go consumer.
For example, consumers may purchase energy bars based on the convenience of on-the-go snacks, nutritional value, weight loss factors, or performance for physical activity Lifestyles: This variable is important to energy bar marketers because although energy bars may be suitable for any type of lifestyle, the way time is spent, importance of surroundings, and beliefs will change between consumers. These needs and interest will directly influence their purchasing behaviors. The retail price of the bars is proportional to the cost. Easily and readily available to consumers at most Supermarkets in South Africa. Asia- Pacific has witnessed a strong growth over the past few years on account of increasing household income. It can be promoted on an all-natural platform, while it also offers many of the isotonic benefits of mainstream sports drinks.
These sources of fuel have worked fine for the world, until now. Target Market Multi segment target market — developed different marketing mixes for each target group. Use family and friends as your recipe guinea pigs. Market share, Y-o-Y growth comparison, and revenue have been given for low protein, medium protein, and high protein bars. Omega-3 Fatty acids can help with the prevention of heart disease, can help lower cholesterol and can prevent Inflammation which in turn can help reduce serious diseases such as strokes, cancers, autoimmune diseases, aging skin, and even hemorrhoids. Energy Bars contain 19 vitamins and minerals and are a composition of protein, carbohydrates and fat.
One of its products is the , an energy bar designed to meet the needs of an active woman. With over 300,000 research reports from more than 700 top consulting and advisory firms, MarketResearch. The firms core remains providing natural and wholesome energy for the day. The companies such as Kellogg, Natural Valley, Alpen and Jordan are the major players and consists of various products in the snack bar market. Price Profit-orientated pricing: satisfactory profits. For all these reasons, Innova Market Insights can point to increased demand for products designed to aid physical performance. Research all of the labeling, health and nutritional guidelines to ensure you are complying with the U.