Richmond, Dec. 06, 2023 (GLOBE NEWSWIRE) -- According to a research report "Energy Bar Market”, by Type (Protein Bar, Nutrition Bar, Cereal Bar, Fiber Bar), Nature (Organic, Conventional), Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, Online Sales Channel) and Region - Global Forecast to 2030.
Global Energy Bar Market Report Scope:
| Report | Details |
| Market size value in 2022 | USD 641.9 Million |
| Market size value in 2030 | USD 1,030.8 Million |
| CAGR (2023-2030) | 6.1% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Type, Nature, Distribution Channel and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on Energy Bar Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global energy bar market has become a pivotal player in the overall food and beverage ecosystem, reflecting the growing consumer demand for convenient and nutritious on-the-go snacks. With an emphasis on health and wellness, energy bars have gained prominence as a convenient source of quick energy and essential nutrients. As consumers increasingly adopt active lifestyles, the market has witnessed a surge in demand for portable, protein-packed, and functional snacks. Energy bars cater to diverse dietary preferences, including those focused on high protein, low sugar, or plant-based options, making them versatile for a broad consumer base.
The significance of the energy bar market extends beyond mere convenience, playing a vital role in the broader food industry by influencing product innovation and shaping nutritional trends. The emphasis on clean labels, sustainable sourcing, and transparent ingredient lists within the energy bar segment has set a benchmark for the wider food and beverage industry. This market's dynamism addresses consumer preferences and fosters competition, encouraging continuous improvement in product quality and nutritional profiles. As a result, the energy bar market serves as a driving force in promoting healthier snacking habits, contributing to the overall evolution of the food industry toward more wholesome and functional offerings.
Major Vendors in the Global Energy Bar Market:
- NuGo Nutrition
- Premier Nutrition Inc
- Probar LLC
- The Kellogg Company
- Brighter Foods Ltd
- General Mills Inc
- McKee Foods Corporation
- Quest Nutrition
- Cliff Bar & Company
- Kind LLC
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Rising Health Consciousness and Active Lifestyles
One of the significant drivers for the global energy bar market is the increasing global trend towards health-conscious living and the adoption of active lifestyles. As consumers become more aware of the importance of nutrition and wellness, there is a growing demand for convenient and nutritious snacks. Energy bars, with their portable and on-the-go nature, align perfectly with the needs of individuals leading busy lives. These bars are formulated to provide a quick and easily accessible source of energy, making them a popular choice among athletes, fitness enthusiasts, and those seeking a healthy snack alternative.
The emphasis on maintaining a healthy diet to prevent lifestyle-related diseases is a key factor driving the demand for energy bars. Manufacturers are responding to this trend by introducing innovative products that not only provide energy but also offer additional health benefits, such as being gluten-free, organic, or fortified with vitamins and minerals.
Market Dynamics
Drivers:
- Increasing health consciousness and demand for nutritious snacks.
- Growing awareness of the importance of sustained energy for performance.
- Rise in fitness and sports activities worldwide.
- Busy lifestyles driving the need for convenient, on-the-go energy sources.
Opportunities:
- Expansion of the market through innovative product formulations.
- Emergence of new distribution channels, such as online platforms.
- Rising trend of plant-based and organic energy bars.
- Collaborations and partnerships with fitness influencers and athletes for marketing.
Expansion of Distribution Channels and E-Commerce
The global energy bar market is experiencing a boost due to the expansion of distribution channels, particularly the growing influence of e-commerce. The ease of online shopping has enabled consumers to explore and purchase a wide range of products, including energy bars, from the comfort of their homes. This has significantly widened the market reach for energy bar manufacturers, allowing them to cater to a global consumer base.
E-commerce platforms provide an efficient and convenient means for consumers to access a variety of energy bar brands and flavors, often at competitive prices. Moreover, the ability to read reviews and compare nutritional information online enhances consumer knowledge and decision-making. This shift towards online retailing is reshaping the dynamics of the energy bar market, offering both established and emerging brands a platform to showcase their products globally. Companies are strategically investing in digital marketing and online retail partnerships to capitalize on this trend and expand their market presence.
North America dominates the market for Energy Bar.
The dominating region in the global energy bar market is North America, with the United States standing out as the leading country. The region's dominance can be attributed to the well-established fitness and health culture, coupled with a high disposable income.
Looking beyond the current leaders, Asia-Pacific is emerging as a region with high growth potential. China, in particular, is witnessing a surge in demand for energy bars due to the increasing awareness of health and fitness. The rapid urbanization and changing lifestyles in the region are contributing to a growing market for convenient and nutritious snacks. As a result, multinational companies are strategically expanding their presence in Asia-Pacific to capitalize on the untapped market potential.
Other upcoming countries with high growth potential include Brazil in South America and India in Asia. In Brazil, a rising focus on fitness and wellness is driving the demand for energy bars, while in India, a growing middle class and changing dietary preferences are creating a favorable environment for the expansion of the energy bar market. The combination of these factors positions these countries as attractive markets for future investment and growth in the energy bar industry.
The Type Segments is anticipated to hold the Largest Market Share during the Forecast Period
The global energy bar market is segmented into various types, including Protein Bar, Nutrition Bar, Cereal Bar, and Fiber Bar. Among these, the Protein Bar segment stands out as the dominant force. This supremacy can be attributed to the increasing consumer awareness of the importance of protein in maintaining a healthy lifestyle, coupled with the rising demand for convenient and on-the-go nutritional solutions. Protein bars are widely favored by fitness enthusiasts and health-conscious consumers for their muscle-building benefits and quick, portable snack options. Additionally, the surge in the fitness trend and the inclination towards healthier eating habits have fueled the popularity of Protein Bars, making them the frontrunners in the energy bar market.
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