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

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

The nutritional bars market size is expected to grow from US$ 7,100.96 million in 2022 to US$ 9,838.38 million by 2028; it is expected to grow at a CAGR of 5.6% from 2022 to 2028.

Nutritional bars contain a wide range of vital nutrients and vitamins, as well as sufficient protein and carbohydrates to keep body functioning. The demand for nutritional bars has surged owing to increasing awareness about their functional benefits such as immune support and stress relief, growing preference for healthy snacking among millennials, and the rising number of product development and launches by nutritional bar manufacturers. In addition, the growing consumer preference for ready-to-eat (RTE) meals and packed food items is boosting the demand for nutritional bars.

Based on type, the nutritional bars market is segmented into protein bars, high-fiber bars, and others. The protein bars segment held the largest market share in 2021, and the high-fiber bars segment is projected to register the highest CAGR during the forecast period. High-fiber bars often feature fiber-rich ingredients such as nuts, oats, seeds, and fruits. These nutritional bars can easily and conveniently boost fiber intake in the body, which may help regulate digestion and promote overall health. Moreover, dietary fiber gives many nutritional benefits such as support pre & post workout, provides continuous energy supply, and others. It helps maintain and control blood sugar levels and cholesterol levels. It can also aid in achieving a healthy weight, maintaining bowel health, and lowering the adverse effects of cardiovascular diseases and cancers on the human body. Due to these factors, the demand for high-fiber bars is increasing among health-conscious consumers.

In terms of region, the nutritional bars market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2021, North America held the largest share of the market; however, Asia Pacific is estimated to register the highest CAGR from 2022 to 2028. The North America nutritional bars market growth is attributed to the rising preference for on-the-go snacking, meal replacement, functional food, and indulgence. Consumers demanded healthy food and beverage alternatives with high nutritional value 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.

The Simply Good Foods Co, Clif Bar & Co, General Mills Inc, The Kellogg Co, Rise Bar Inc, The Quaker Oats Co, Perfect Bar LLC, Mars Inc, Kind LLC, and Premier Nutrition Co LLC are among the key players operating in the nutritional bars market. These players engage in developing affordable and innovative products to meet the rising customer demands and expand their market share.

The overall nutritional bars market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include VPs, business development managers, market intelligence managers, and national sales managers, along external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the nutritional bars market.

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