Energy Bar Market Forecasts to 2028 – Global Analysis By Type (Cereal Bar, Protein Bar, Fiber Bar, Nutrition Bar, Endurance Bars, Activity Bars, Oat Bars and Other Types), Distribution Channel, Flavor, Nature and By Geography
According to Stratistics MRC, the Global Energy Bar Market is accounted for $682.26 million in 2022 and is expected to reach $1069.49 million by 2028 growing at a CAGR of 7.78% during the forecast period. Supplemental bars known as energy bars offer energy as well as nutritional advantages and dietary benefits. They often serve as a meal replacement because of the proteins, lipids, and carbohydrates they contain, which help to give users rapid energy. The bar might give someone the energy they need to get through a workout or training session thanks to the protein and additional carbohydrates. Additionally, it gives the body the post-workout nutrition it needs to repair any minor muscle tears that may have occurred during the workout and to grow new muscle tissue.
According to the International Food Information Council report on food & health survey, the proportion of American consumers who actively looked for health benefits in their food in 2021 was 20%.
Market Dynamics:Driver:Rising popularity for packed food items
Demand for energy bars has increased as consumers' tastes for packaged snacks and sweets have grown. The consumption of energy bars has grown in popularity as customers' spending power has improved and their taste for delicious food has increased. Additionally, the market for energy bars is growing as a result of ingredient variations in snack products that draw consumers' attention and encourage them to buy the products based on their needs.
Restraint:Preconceptions for snack bars are rapidly changing
The cost of research, production, and distribution infrastructure for the key players rises as a result of frequently changing consumer preferences and tastes for snack food products, which restricts the growth of the energy bar market share. Additionally, it is anticipated that the proliferation of alternatives such as energy drinks, cookies, and powder will restrain the market for energy bars.
Opportunity:Increased demand for dietary food products
The rising demand for diet foods is the cause of the increased consumption of low-carb and low-fat energy bars. The development of gluten-free and non-allergic nutrition foods has also become more practical as more people are becoming aware of the benefits of natural, chemical-free foods on their health. Additionally, as the prevalence of diabetes rises, more people are consuming low-sugar foods, opening up new market opportunities.
Threat:High cost of energy bar
The price of the energy bars is higher since they are made with premium components that provide quick energy, like pecans, cashews, and almonds, making them expensive for many individuals. Additionally, premium packaging for energy bars includes wrapping and boxes, raising the overall cost of the energy bars. These are a few of the elements that experts predict will reduce the market value of energy bars.
Covid-19 Impact
Numerous industries suffered significantly as a result of the novel coronavirus pandemic. During this time, the world energy market expanded moderately. The pandemic outbreak had three main effects on the market for energy bars: demand, manufacturing, supply chain, and market disruption. However, due to growing trends of simple provision for nutrition and energy requirements, speedy applications, and convenience of storing, COVID-19 has inflated the demand for creative snacks. As a result, the value of excellent health has increased dramatically, moderately fueling market expansion.
The protein bar segment is expected to be the largest during the forecast period
The protein bar segment is estimated to have a lucrative growth. High-protein, high-carbohydrate snacks include protein bars, which are portable. It is a great source of protein and other vitamins and minerals. Demand for packaged and convenience foods is rising quickly due to increased health awareness, changing socioeconomic circumstances, and a lack of time to prepare nutritious food.
The organic segment is expected to have the highest CAGR during the forecast period
The organic segment is anticipated to witness the highest CAGR growth during the forecast period. Organic energy bars are high-nutrient, nutrient-dense snacks that provide a range of vitamins and minerals to boost physical energy. Ingredients for organic energy bars come from farms that don't use synthetic pesticides or fertilisers. It is projected that the expansion of the organic category will be driven by the increased demand for healthy, organic, high-nutritional-value snacks and the rising need for sports nutrition.
Region with highest share:
North America is projected to hold the largest market share during the forecast period owing to the American way of life is known for being active and fast-paced. Due to its fast-paced lifestyle, the United States, one of the most developed countries, expects extremely easy cuisine. The United States Department of Agriculture (USDA) claims that Americans spend more than half of their food expenditure on quick meals, such as snack bars, which increases the nation's consumption of these goods.
Region with highest CAGR:Europe is projected to have the highest CAGR over the forecast period. The market was stimulated by greater customer knowledge of a healthier ingredient with nutritional advantages. Customers like functional fruits and grains in energy bars that increase the product's nutritional value, such as berries, hemp, chia, and flaxseed, among others. The market has been driven more by impulse buys than by good eating. However, foods those are high in fibre, low in calories, high in protein, and made with natural ingredients are becoming more and more popular.
Key players in the market
Some of the key players profiled in the Energy Bar Market include Kellogg Company, ProBar LLC, Nature Essential Foods Pvt. Ltd, EAT Anytime, PepsiCo Inc., Lotus Bakeries, General Mills Inc., Kind LLC, Post Holdings Inc., Clif Bar & Company, OTE Sports Ltd, Bumble Bar Inc., Science in Sports PLC, TORQ Limited, Premier Nutrition Inc and Brighter Foods Ltd.
Key Developments:In August 2022, Clif Bar & Company, which offers a range of energy bars, was acquired by Mondelez International, Inc. With leading brands like CLIF, CLIF Kid, and LUNA complementing the company's refrigerated snacking business in the United States and popular performance nutrition business Grenade in the United Kingdom, the acquisition is anticipated to increase Mondelez International's global snack bar business to more than USD 1 billion.
In August 2021, General Mills, Inc launched Performance Protein bars from Cinnamon Toast Crunch and Golden Grahams brands. These bars contain less sugar and provide up to 20 g of protein in around 63 g of bar weight.
In April 2021, Kellogg India targeted the 'In-between meal' segment. Therefore owing to this factor, they launched the K Energy bars to enter this category.
Types Covered:
• Cereal Bar
• Protein Bar
• Fiber Bar
• Nutrition Bar
• Endurance Bars
• Activity Bars
• Oat Bars
• Other Types
Distribution Channels Covered:
• Specialty Stores
• Hypermarkets & Supermarkets
• Online Sales Channel
• Convenience Stores
• Other Distribution Channels
Flavors Covered:
• Peanut Butter
• Caramel
• Honey
• Chocolate
• Other Flavors
Natures Covered:
• Conventional
• Organic
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements