Chile Protein Bars Market Report and Forecast 2023-2028

Chile Protein Bars Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the Chile protein bars market reached a value of USD 26 million in 2022. Aided by the increasing demand for convenient and nutritious snacks and the versatile applications of protein bars across different consumer groups, the market is projected to further grow at a CAGR of 5.40% between 2023 and 2028 to reach a value of USD 61.39 million by 2028.

Protein bars are a popular type of nutrition bar that contains a high proportion of protein, along with various vitamins and minerals. These bars are commonly consumed by individuals seeking a quick source of protein, especially after workouts to aid muscle recovery and growth. Apart from their use as fitness supplements, protein bars are increasingly being consumed as meal replacements or as healthy snacks due to their high nutrient content and convenience.

A significant factor driving the Chile protein bars market growth is the increasing consumer preference for nutritious and convenient snack options. The growing awareness of the health benefits of protein, including muscle building, weight management, and overall wellness, has led to a shift towards protein-rich foods. This has resulted in a surge in demand for protein bars, which offer a quick and convenient way to incorporate more protein into the diet.

In addition, the rise in health and fitness trends in Chile has also boosted the popularity of protein bars. As they are a popular supplement among athletes and fitness enthusiasts, the growing interest in fitness activities and sports has led to increased consumption of protein bars. Moreover, the convenience and portability of these bars make them a preferred choice for those with busy lifestyles, further driving the Chile protein bars market growth.

The application of protein bars has expanded beyond fitness enthusiasts to include other consumer groups as well. For instance, they are increasingly being consumed as meal replacements by individuals aiming to lose weight, as the high protein content can promote feelings of fullness and reduce overall calorie intake. The demand for protein bars as healthy snack options among the general public has also grown, contributing to the Chile protein bars market expansion.

Furthermore, innovation and product diversification in the protein bars market have encouraged growth. The introduction of various flavours, protein sources, and dietary-specific options, such as gluten-free or vegan bars, has attracted a broader consumer base, thus aiding the Chile protein bars market development.

Market Segmentation

The market can be divided based on source, type, protein content, and distribution channel.

Market Breakup by Source

• Plant-based Protein Bar
• Animal-based Protein Bar

Market Breakup by Type

• Sports Nutritional Bars
• Meal-Replacement Bars
• Snack Bars
• Others

Market Breakup by Protein Content

• Low Protein (0-15 grams) Bar
• Medium Protein (16-25 grams) Bar
• High Protein (Above 25 grams) Bar

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Convenience Stores
• Specialist Retail Stores
• Online
• Others

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the Chile protein bars companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• General Mills, Inc.
• Mars, Incorporated
• The Kellogg Company
• The Wild Protein
• Fair Foods
• Nutracom SA (Your Goal)
• Nutrifarm Sp. z o.o (Olimp)
• Quest Nutrition
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.