India Energy Bar - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

India Energy Bar - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The India Energy Bar Market size is estimated at USD 3.91 million in 2024, and is expected to reach USD 8.83 million by 2029, growing at a CAGR of 17.69% during the forecast period (2024-2029).

During the pandemic of Covid-19 India's energy and protein bar firms started expanding their business into online channels and exporting to different countries. Fit sport nutrition foods, a Hyderabad-based company specializing in energy and protein bars, has ventured into the highly competitive US market with a bigger bar via a listing on Amazon. During the pandemic, people shifted to a healthier and fitness freak life which gave rise to the demand for the gym-goers.

Consumer demand for convenient and healthy on-the-go snack options has by far been the primary attribute for sales of energy bars in the country. Increasing health-consciousness, active lifestyles, and awareness about the benefits of consumption of smaller meals are further leading to the increased consumption of snacks, which is expected to drive the demand for energy bars. Increasing sports participation and the increasing gym-going population are expected to further propel the growth of energy bars. However, energy bars in India are perceived to be high-priced in comparison with regular snack bars. This has provided an opportunity for Indian players such as Patanjali to come up with energy bars that are offered at a lower price.

India Energy Bar Market Trends

Preference for Healthy Snacking

Consumer demand for healthier snacking alternatives and nutritious foods has driven the market for energy bars. Also, with the rise in demand for fortified food, fortified energy bars with high protein content are in demand. Health awareness has led Indian consumers to include fruit and vegetable-derived ingredients in their dietary habits, which has driven the demand for healthy snacks. Indian customers are also willing to pay extra for healthy snacks considering COVID 19 and taking health and immunity boost as a priority. This has led key players in the snack bar and energy bars markets to come up with newer and healthier market offerings. With an increase in health consciousness and a rise in per-capita expenditure toward premium food, the market for energy bars in India is forecasted to grow at an increasing rate.

Increasing Number of Health and Fitness Center

Energy bars have found high levels of popularity in the sports nutrition market as sports activities involve lots of energy breakdown, and energy bars are a convenient and efficient option for the supply of instant energy to athletes. In recent years health clubs and fitness centers have witnessed consistent growth due to an increase in health concerns and lifestyle changes. A surge in the number of the middle-aged and geriatric population engaged in sports activities has further fueled sales of the energy bar market, The increasing number of health and fitness center has been positively influencing the growth of the energy bar market as these centers have been involved in the endorsement of sports and fitness nutrition products to their respective consumers. The demand for energy bars is also increasing due to linked convenience of consumption which is aided by disposable packaging that prevents the bar from touching hands directly, thus keeping the bar and the hand both clean.

India Energy Bar Industry Overview

The most active companies in the Indian energy bar market include Unibic, Yoga Bar, General Mills, HealthKart, and Eat Anytime, which hold a significant market share. Manufacturers are incorporating measures to increase their product visibility in the retail shelf, by expanding their distribution channel and adopting innovative marketing strategies. Some of the players have positioned and marketed specific bars with particular ingredients/health benefits targeting a specific gender. This strategy of launching target-oriented products gives the feeling of personalization to consumers, as they could be specifically created for their needs.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support