South America Plant-based Bars Market Outlook, 2028

South America is known for its rich biodiversity and a wide variety of native plant foods. Many plant-based bar manufacturers in the region were emphasizing the use of local, sustainable ingredients to create unique flavors and textures. In major cities across South America, there were thriving vegan and vegetarian communities. These communities often played a role in promoting plant-based products and sharing recipes, including those for homemade plant-based bars. There was a growing awareness of the benefits of plant-based diets in South America, driven by concerns about health, the environment, and animal welfare. This awareness was leading to an increased demand for plant-based products, including plant-based bars. South America is a diverse continent with a wide range of culinary traditions. Plant-based bars were being adapted to fit local tastes and preferences, incorporating ingredients like quinoa, chia seeds, and tropical fruits. The region is experiencing a robust preference for energy bars outstripping two major snacking categories i.e. cookies and confectionery. The diet trends are catching rapid attention among health conscious population, especially women consumers. South American cuisines, such as empanadas and tacos, provide exotic flavor options in snack bars including energy bars. Moreover, the locally grown ingredients, such as quinoa and amaranth, are widely utilized in different varieties of snack bars. The rising health consciousness amid increasing prevalence in the lifestyle diseases has enabled South American consumers to opt for healthy and sustainable snacking options. The free-from categories of snack bars that are devoid of ingredients, such as sugar, gluten and GMO, which carry negative public-health opinions, are expected to significant sales in countries, such as Brazil and Argentina. According to the research report, “South America Plant-based Bars Market Outlook, 2028” published by Bonafide Research, the market is anticipated to grow during the forecast period. The adoption of plant-based bars in South America has been steadily increasing, albeit at a somewhat slower pace compared to regions with more established markets for these products, like North America and Europe. As people in South America become more health-conscious, there is a growing interest in plant-based diets. Plant-based bars are often perceived as healthier alternatives to traditional snack bars, as they are typically lower in saturated fats and may contain fewer additives. Environmental awareness is increasing in South America, and many consumers are looking for products that have a smaller environmental footprint. Plant-based bars, which use fewer animal-derived ingredients, align with these concerns. South America is a diverse continent with various dietary traditions. While meat consumption is still common in many regions, there's a strong tradition of using plant-based ingredients in local cuisine. This cultural familiarity with plant-based foods can encourage the adoption of plant-based bars. The adoption of plant-based bars also depends on their availability and affordability. In larger urban areas, you are more likely to find a variety of plant-based products, including bars. However, in rural areas, access may be limited. Companies and organizations promoting plant-based diets play a crucial role in increasing adoption. As these entities educate consumers about the benefits of plant-based nutrition, more people are likely to try plant-based bars. The growth of small, local businesses and startups in South America that focus on producing plant-based snacks, including bars, has contributed to the adoption of these products. These businesses often emphasize local ingredients and flavors. Global food trends also influence the South American market. As plant-based diets gain popularity worldwide, South American consumers are exposed to these trends through international media and brands.

South American plant-based bars often emphasize the use of locally sourced ingredients, catering to the distinct flavors and culinary traditions of the region. Ingredients like acai berries, chia seeds, quinoa, and tropical fruits are frequently incorporated into bars, giving them a unique regional identity. South America has a significant urban-rural divide, with urban areas generally being more open to global food trends and having greater access to plant-based products. In contrast, rural areas have limited exposure and access to these products. One common regulation is the requirement for plant-based bars to be clearly labeled as such. This is to ensure that consumers are aware of what they are buying and can make informed choices. For example, in Brazil, the National Health Surveillance Agency (ANVISA) requires that all plant-based foods be labeled with the term "vegetariano" or "vegano". Another common regulation is the requirement for plant-based bars to meet certain nutritional standards. For example, in Argentina, the National Food Safety and Quality Service (SENASA) requires that all plant-based bars contain a certain amount of protein and fiber. Some countries in South America also have regulations on the use of certain ingredients in plant-based bars. For example, in Colombia, the Ministry of Health and Social Protection prohibits the use of artificial sweeteners in plant-based foods. In addition to these general regulations, there are also some specific regulations that apply to plant-based bars. For example, in Chile, the Ministry of Agriculture prohibits the use of the term "leche" (milk) on the labels of plant-based milk products. This is to prevent consumers from being misled into thinking that plant-based milk is the same as cow's milk. Brazil snack bar market is driven by increasing demand for healthy indulgence and rise in the new product development of different snack bars. The increase in dual-income households has prompted consumers to divert their spending on convenience and better-for-you foods. Gluten-free and low-sodium claims are fetching increasing popularity in the Brazilian snack bar market. Recently, Kobber, a Brazilian manufacturer of bakery and snack products, launched a line of snack bars, based on tapioca, which are free-from labeling claims. The flavorful innovation is evident in almost all the varieties of snack bars i.e. cereal bars, snack bars, fruit bars, and nut bars. There are a number of factors driving the growth of the plant-based bar market in Brazil. One factor is the increasing awareness of the health benefits of a plant-based diet. A growing number of Brazilians are choosing to reduce their meat consumption due to concerns about their health and the environment. Another factor driving the growth of the plant-based bar market is the increasing availability of plant-based products in Brazil. In recent years, there has been a proliferation of plant-based food brands in Brazil, and plant-based products are now widely available in supermarkets and other retail outlets. The Brazilian government is also supportive of the plant-based food industry. In 2021, the government launched the "Programa Brasil Mais Verde" (Greener Brazil Program), which aims to promote the consumption of plant-based foods and reduce the country's reliance on meat production. The growth of convenience stores in South America has contributed to the increasing availability and distribution of plant-based bars in the region. Convenience stores have become important retail channels for a variety of products, including snacks like plant-based bars. South America is experiencing rapid urbanization, with a significant percentage of the population living in urban areas. In these urban environments, convenience stores are a preferred shopping destination due to their accessibility and extended operating hours, catering to busy lifestyles. Snacking is a common eating habit in South America, and convenience stores cater to this culture by offering a wide variety of snack options, including plant-based bars. These bars are a convenient and portable choice for on-the-go consumers. Convenience stores often carry a diverse range of products to cater to diverse consumer preferences. As the demand for plant-based and vegan options increases, stores are expanding their product offerings to include a variety of plant-based bars with different flavors and ingredients. Convenience stores often run promotions and marketing campaigns to highlight specific products. When they feature plant-based bars in these promotions, it can attract more consumers and encourage them to try these products. Many convenience store chains are expanding their presence in urban areas, targeting locations with high foot traffic. This expansion strategy ensures that plant-based bars are available in densely populated regions. However, some convenience store chains have integrated e-commerce platforms, allowing customers to order products online for delivery or in-store pickup. This provides an additional avenue for consumers to access plant-based bars.

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Manmayi Raval

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São Paulo is one of the largest and most cosmopolitan cities in South America. It has a thriving food scene and a growing number of vegan and vegetarian restaurants and cafes. This city has been a significant driver of the plant-based food movement in Brazil, which extends to plant-based bars. Buenos Aires is another South American city with a dynamic culinary scene. It has seen the rise of plant-based dining options and vegan-friendly businesses, contributing to the popularity of plant-based products like bars. Lima is known for its diverse and flavorful cuisine, and it has embraced plant-based options in recent years. The city has seen an increase in vegan and vegetarian eateries and a demand for plant-based snacks, including bars. Santiago is home to a growing number of health-conscious consumers who are interested in plant-based diets. This has led to an increased availability of plant-based products, including bars, in the city. Bogotá's food scene is evolving to accommodate the growing interest in plant-based options. The city is witnessing an increase in vegan and vegetarian restaurants and a greater variety of plant-based snacks. Montevideo, the capital of Uruguay, has a developing plant-based food scene, driven by health-conscious consumers and a desire for sustainable and ethical food choices. This has led to the popularity of plant-based bars and other products. Quito is experiencing a growth in plant-based dining options and vegan-friendly businesses, which has contributed to the increasing popularity of plant-based bars among health-conscious consumers. Medellín is known for its innovative culinary scene, and plant-based dining options have become increasingly popular. This trend has likely extended to the demand for plant-based snack products like bars. Brasília, as the capital of Brazil, has seen the influence of national policies and initiatives promoting healthy eating. This has resulted in a greater awareness and adoption of plant-based products in the city. Start-up Scenario: • Natural Athlete (Brazil): Natural Athlete is a Brazilian startup that produces plant-based protein bars and snacks. They focus on using natural ingredients and offer a range of flavors to cater to different tastes and dietary preferences. • Blendhub (Argentina): While not exclusively focused on plant-based bars, Blendhub, based in Argentina, is known for its expertise in creating custom food blends, which can include plant-based ingredients. They work with various food companies to develop innovative products. • Upbeat (Chile): Upbeat is a Chilean company that offers a variety of plant-based protein bars. They emphasize clean ingredients and sustainable packaging in their products. • Nayelle (Ecuador): Nayelle, based in Ecuador, produces a range of plant-based and organic products, including protein bars. They use ingredients like spirulina and quinoa in their bars. • Amazoni (Brazil): Amazoni is a Brazilian startup that specializes in producing plant-based superfood bars. They incorporate ingredients from the Amazon rainforest, such as acai and camu camu, into their products. Considered in this report • Geography: South America • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Aspects covered in this report • South America Plant-based Bars with its value and forecast along with its segments • Country-wise Plant-based Bars market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Countries covered in the report • Brazil • Argentina • Colombia By Product Type • Protein Bars • Energy Bars • Cereal Bars • Fruit and Nuts Bars • Others By Distribution Channel • Hypermarkets and Supermarkets • Convenience Stores • E-Commerce • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the Plant-based Bars industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.