Global Protein Bars Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Protein Bars Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

A protein bar is a nutrition bar made from dates, dried fruit, nuts, seeds, and whole grains like oats and quinoa. It is rich in carbohydrates, fats, minerals, vitamins, protein, and other essential nutrients. Its regular consumption offers several health benefits, such as boosting energy, strengthening bones and muscles, promoting weight management, and minimizing sugar levels. It is commonly available in various flavors, including chocolate, caramel, honey, coconut, and orange.

Market Overview:

The latest research study on the global Protein Bars market finds that the global Protein Bars market reached a value of USD 1792.85 million in 2022. It’s expected that the market will achieve USD 2880.55 million by 2028, exhibiting a CAGR of 8.22% during the forecast period.

Evolving Fitness Trends Leading to High Demand for Protein Bars

With the rapid development of the global social economy, rising urbanization rate and popularization of healthy lifestyles, consumers are becoming more and more aware of healthy and nutritious diets. The increasing number of professional athletes, bodybuilders and mass sports enthusiasts has driven the growth of protein bar demand. Protein is an important element that supports fitness progress. Therefore, consumers are opting for weight management and energy products, such as protein bars, to remain fit and healthy. Owing to their high nutrition levels, protein bars are gaining prominence among health-conscious consumers. Additionally, these nutritious products can provide the ideal protein balance required for a healthy lifestyle. Moreover, supplementing meals with bars is expected to increase protein intake, without adding unnecessary calories or carbohydrates. These fitness trends are expected to augment the demand for protein bars, as they play a major role in providing essential nutrients and proteins, increasing energy levels, and enhancing muscle mass.

Product Development and Product Portfolio Diversification

In response to changing consumer demand and fierce competition, market players are focusing on product development and product portfolio expansion, launching new product lines or updating existing products. In addition, with the continuous evolution of the protein bar industry, protein bar products are developing in a diversified direction. To capture market opportunities related to protein bar products, market players will continue to focus on developing products that can serve specific purposes. such as, product manufacturers are introducing gluten-free, plant-based, and organic product variants to expand their product portfolio and increase existing sales. They are also focusing on innovative wrappers and labels on account of the emerging trend of gifting unique premium items, which is creating a positive outlook for the market. Continuously innovative product development and product diversification drive the growth of the overall market.

Region Overview:

In 2021, the share of the Protein Bars market in the United States stood at 60.41%.

Company Overview:

Clif Bar & Company provides food supplements and beverages. The Company manufactures and sells nutritional snacks and drinks such as energy and protein bars, organic snacks, and sports drinks.

Nestle SA is a nutrition, health and wellness company, which engages in the manufacture, supply and production of prepared dishes and cooking aids, milk-based products, pharmaceuticals and ophthalmic goods, baby foods and cereals.

Kellogg is a producer and marketer of ready-to-eat cereal and convenience foods. Its product portfolio includes cereals, cookies, crackers, savory snacks, frozen waffles, toaster pastries, cereal bars, fruit-flavored snacks, and veggie foods. The company markets its snacks products under Kellogg's Cheez-It, Murray, Pringles, Austin, Parati, and RXBAR, Bear Naked and Kashi, Morningstar Farms and Eggo brand names.

Clif Bar & Company, Nestle, The Kellogg Company were the top 3 players in the Protein Bars market in 2022, taking up a market share of 28.26% together.

Segmentation Overview:

Generally, the protein content in each Protein Bar is divided into three layers: Low Protein (0-15g), Medium Protein (16g-25g) and High Protein (25+ g).

By type, Medium Protein segment accounted for the largest share of market in 2021.

Application Overview:

By application, the General Individual segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Protein Bars market covered in Chapter 3:

The Kellogg Company
ThinkThin, LLC
Abbott Nutrition
MARS
Prinsen Berning
Nestlé
Hormel Foods
Atkins Nutritionals (Quest Nutrition)
Clif Bar & Company
General Mills
NuGo Nutrition

In Chapter 4 and Chapter 14.2, on the basis of types, the Protein Bars market from 2018 to 2029 is primarily split into:

Low Protein
Medium Protein
High Protein

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Protein Bars market from 2018 to 2029 covers:

General Individual
Pro/Amateur Athletes

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)