Portland, OR, June 10, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global energy bar market was pegged at $645.0 million in 2020 and is estimated to hit $1.01 billion by 2028, registering a CAGR of 6.4% from 2021 to 2028. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Rise in consumer demand for convenient and healthy on-the-go snack options drives the growth of the global energy bar market. On the other hand, rise in the number of food allergies as a result of consuming specific food products restrains the growth to some extent. However, rise in gym culture and fitness routines among individuals across the world have paved the way for multiple opportunities in the industry.
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Covid-19 scenario-
- The outbreak of COVID-19 led to disrupted supply chain and huge shortage of raw materials, thereby impacting the global energy bar market negatively.
- However, the nutritive value and food benefits of energy bars have increased their demand during the pandemic.
The global energy bar market is analyzed across type, nature, distribution channel, and region. Based on type, the protein bar segment accounted for around one-third of the total market share in 2020, and is expected to lead the trail by the end of 2028. The same segment would also register the fastest CAGR of 7.1% throughout the forecast period.
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Based on nature, the organic segment contributed to more than half of the total market revenue in 2020, and is anticipated to dominate 2028. The same segment would also grow at the fastest CAGR of 6.6% during the forecast period.
Based on region, North America held the major share in 2020, generating more than one-third of the global energy bar market. The market across the region would also cite the fastest CAGR of 7.0% from 2021 to 2028. The other regions studied in the report include Asia-Pacific, Europe, and LAMEA.
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The key market players analyzed in the global energy bar market report include Cliff Bar & Company, Brighter Foods Ltd, Kind LLC, General Mills Inc, NuGo Nutrition, McKee Foods Corporation, Premier Nutrition Inc, Quest Nutrition, Kellogg Company, and Probar LLC. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.