Boston, MA -- (SBWIRE) -- 06/20/2014 -- Value sales of snack bars are expected to grow by a high 7% in current terms in 2013, much lower than the 12% increase recorded in 2012, but still very strong. Demand for energy/nutrition bars in Taiwan only became significant after the launch of the Japanese brand Soy Joy in 2008, targeted at the mass of consumers. Though now available for a number of years, consumers are still beginning to gain exposure to not only Soy Joy, but also other brands of snack bars. The growth rate of snack bars is greatly affected by competition from other snack foods, such as confectionery and chips/crisps etc.
With Soy Joy, King Car Otsuka Co is expected to continue to dominate snack bars in Taiwan with a 64% value share in 2013, a small drop from 2012. The brand includes flavours such as blueberry, strawberry, and almond grape. Soy Joy is advertised as a nutritional snack food made with real fruit and whole soy, and having a low glycaemic index and no trans fats. King Car Otsuka Co launches at least one new flavour each year to stimulate demand and regularly holds public and printed advertisements, so value sales have continued to increase each year. The newest flavour available is orange.
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Value sales of snack bars are expected to increase at a constant CAGR of 2% over the forecast period. Soy Joy will likely remain the top brand, given its already-popular brand image among snack bars; however, competition from not only other types of nutrition-orientated biscuits, confectionery, and chips/crisps, but newer energy and nutrition bars are likely to emerge.
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The Snack Bars in Taiwan market research report includes:
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- Are sales benefitting as consumers look for a healthier alternative to confectionery?
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- What are the other major snack bars markets globally?
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