Global Energy Bar Market Research Report: Forecast (2023-2028)

Market Definition

Energy bars are supplement bars that offer energy, along with nutritional value and food benefits. These bars are a perfect replacement for meals as they are enriched with proteins, carbohydrates, and fats. The protein and added carbohydrates in the bar act as energy boosters during a workout or training. It also supplies post-workout nutrition to build new muscle tissue and repair any minor muscle tears that occur during the workout sessions.

Market Insights & Analysis: Global Energy Bar Market (2023-28)

The Global Energy Bar Market is projected to grow at a CAGR of around 5.6% during the forecast period, i.e., 2023-28. The market is primarily driven by increased expenditure on food and beverage, growing health consciousness, substantial shifts in meal patterns & existing food habits, and predominantly the shifting taste preferences worldwide. Developed countries like the USA have demonstrated the maximum adoption of these bars. In fact, more than half the population here is already snacking on the bars, with many of them subconsciously upscaling their average consumption of the energy bars.

Further, the energy bar industry has witnessed swift growth in the historical period due to the increasing trends for on-the-go snacking. Another prominent factor propelling the market ascension is the mushrooming of health clubs and fitness centers across major cities owing to the gradual lifestyle upgradation and escalating health concerns. These aspects have paved the way for more sports nutrition products to surface in stores, thereby enthralling market expansion in the coming years.

Key Trends in the Market

• A Considerable Population Share Turning Vegan Worldwide

With a growing propensity for plant-based products owing to the trending veganism in the Western region, the demand for clean-label energy bars has soared in recent years and is expected to prevail in the same trend in the coming years. As per a survey run by supermarket chain Veganz in 2020, the vegan population in the European region has duplicated to 2.6 million from 1.3 million, accounting for around 3.2% of the population. This aspect is expected to put forth a suitable stage for the market players to showcase their potential and come up with more plant-based energy bars in the coming years.

Market Segmentation

Based on Type,

• Protein Bar
• Nutrition Bar
• Cereal Bar
• Fiber Bar

Among all, Nutrition Bar is anticipated to attain the fastest growth in the Global Energy Bar Market during the forecast period. All the healthy energy bars, comprising cereals or high-energy ingredients, fall under the category of nutrition bars. The growth of these bars can be accredited to the growing popularity among consumers, especially youth that do not have time for a proper meal or anyone who needs quick energy stimulation. Because of such wide adoption, the market for nutrition bars is likely to gain momentum in the coming years. Besides, the frequent strategic collaboration among the key players to include better energy bars has led to the portfolio expansion of the associated companies in the historical period. For instance,

• In 2020, Kind LLC, a US-based snacks company, came up with new energy bars formulated with whole grains, carbohydrates, and oats.

Regional Projection

Geographically, the Global Pharmaceutical Blister Packaging Market expands across:

• North America
• South America
• Europe
• Middle East & Africa
• Asia-Pacific

Here, North America demonstrated notable market growth during the historical period and is anticipated to prevail in the same trend during the forecast period. The dominance predominantly ascribes to the growing fitness consciousness paired with higher disposable incomes, making the leading players in the market bring more products that satiate the needs of fitness enthusiasts. Besides, the emerging need to fulfil the after-work out nutrients requirements again provides the manufacturers an opportunity to diversify their portfolios in terms of nutritional value and taste. Further, the growing affinity of kids to these types of energy bars is likely to enthrall the market in the forecast period. For instance, 

• Perfect Bar unveiled Perfect Kids as the original refrigerated kids’ snack bar at Expo East 2018, now available across Target stores in the United States. The snack bar boasts clean-food credentials of USDA organic, low-GI and non-GMO project verified. The product has a cookie dough texture and taste.

Recent Developments in the Global Energy Bar Market

• In January 2021, Clif Bar & Company unveiled a new thin and crispy energy snack bar, namely CLIF BAR Thins. The product is organic and plant-based, contain 100 calories with 5 g of sugar, and comes in three flavours chocolate peanut brownie, chocolate chip, and white chocolate macadamia nut.

Market Dynamics

Possible Restraint: Utilization of Allergy triggering Ingredients in the Energy bar

Although the market has witnessed expansion with numerous favorable market trends, A few aspects might hinder market growth in the coming years. Allergy triggered by ingredients used in energy bars is one of them. According to Food Allergy Research & Education (FARE), around 25 to 40% of people are allergic to both tree nuts and peanuts. In fact, all pre-packaged foods in the United States that use nuts as an ingredient must list the type of nut on the label, as a requirement of the federal Food Allergen Labelling and Consumer Protection Act of 2004 (FALCPA). Besides, the high pricing of these bars is likely to impede market growth during the forecast period.

Gain a Competitive Edge with our Global Energy Bar Market Report

1. Global Energy Bar Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size, share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Energy Bar Market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.