Asia Pacific Nutritional Bars Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type (Protein Bars, High-Fiber Bars, and Others), Category (Conventional, Gluten-Free), Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores,

Asia Pacific Nutritional Bars Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type (Protein Bars, High-Fiber Bars, and Others), Category (Conventional, Gluten-Free), Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)

The Asia Pacific nutritional bars market is expected to grow from US$ 1,785.07 million in 2022 to US$ 2,644.14 million by 2028. It is estimated to grow at a CAGR of 6.8% from 2022 to 2028.

Rising Fitness Trends will be Driving the Asia Pacific Nutritional Bars Market

In the last couple of years, people have become more aware of the importance of living a healthy lifestyle. The growing prevalence of sedentary lifestyles among a vast population is affecting their physical and mental health. This factor encourages them to opt for physical activities and workouts, and healthy eating to stay fit. Thus, fitness and healthy eating have become prominent trends worldwide, in turn, resulting in the rapid proliferation of the global fitness and nutritional bars industry. Irrespective of the adverse effects of the COVID-19 pandemic on the confectionery industry, there has been a notable increase in the number of people consuming nutritional bars during 2020–2021.

Additionally, a growing number of fitness centers, health clubs, and gymnasiums, coupled with growing awareness about fitness among the population, is increasing the demand for nutritional bars. Also, increasing popularity of yoga is also expected to increase the demand for nutritional bars. All these factors are contributing to the market growth of nutritional bars.

Asia Pacific Nutritional Bars Market Overview

The Asia Pacific nutritional bars market growth is attributed to the rising preference for on-the-go snacking, meal replacement, functional food, and indulgence. Consumers looked for healthier alternatives with high nutritional value in food and beverages to boost immunity during the COVID-19 pandemic. The rising demand for nutritional bars, including protein bars, high-fiber bars, and meal replacement bars, from young adults and athletes, is also driving the market growth in this region. These nutritional bars enhance the performance and stamina of athletes and fitness lifestyle users. Further, the growing number of health and fitness-conscious individuals has increased the demand for functional products such as nutritional bars. According to the US Bureau of Labor Statistics, average daily participation rates in sports and exercise grew by 3.6% between 2003 and 2015. An increasing number of sports participants in the US is likely to boost the demand for energy bars in Asia Pacific during the forecast period. Also, the popularity of sugar-free, gluten-free, and low-carb nutritional bars is growing across the region.

Moreover, the rising vegan population and veganism are boosting the demand for plant-based nutritional bars. Thus, leading manufacturers are launching plant-based nutritional bars to cater to consumers’ demands. For instance, in June 2020, RXBAR, a Kellogg subsidiary, launched its first plant-based nutritional bar. This bar contains 10g of plant protein obtained from peas and almonds. Such product innovations by manufacturers are expected to boost the Asia Pacific nutritional bars market growth during the forecast period.

Asia Pacific Nutritional Bars Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Nutritional Bars Market Segmentation

The Asia Pacific nutritional bars market is segmented into type, category, distribution channel, and country.

Based on type, the Asia Pacific nutritional bars market is segmented into protein bars, high-fiber bars, and others. In 2022, the protein bars segment registered a largest share in the Asia Pacific nutritional bars market.

Based on category, the Asia Pacific nutritional bars market is bifurcated into conventional and gluten-free. In 2022, the conventional segment registered a larger share in the Asia Pacific nutritional bars market.

Based on distribution channel, the Asia Pacific nutritional bars market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. In 2022, the supermarkets & hypermarkets segment registered a largest share in the Asia Pacific nutritional bars market.

Based on country, the Asia Pacific nutritional bars market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. In 2022, the Rest of Asia Pacific segment registered a largest share in the Asia Pacific nutritional bars market.

Clif Bar & Co; General Mills Inc; Mars Inc; The Kellogg Co; The Quaker Oats Co; and The Simply Good Foods Co are the leading companies operating in the Asia Pacific nutritional bars market.

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