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.
|Study Period||Historical Data: 2018-21|
|Base Year: 2022|
|Forecast Period: 2023-28|
|Regions Covered||North America: US, Canada, Mexico|
|Europe: Germany, The UK, France, Spain, Italy, Rest of Europe|
|Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific|
|South America: Brazil, Argentina, Rest of South America|
|Middle East & Africa: UAE, Saudi Arabia, South Africa, Egypt, Rest of MEA|
|Key Companies Profiled||Brighter Foods Ltd, Clif Bar & Company, General Mills, Inc., Kind LLC, McKee Foods Corporation, NuGo Nutrition, Premier Nutrition Inc., Probar LLC, Quest Nutrition, Kellogg Company, Others.|
|Unit Denominations||USD Million/Billion|
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
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.
Based on Type,
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,
Geographically, the Global Pharmaceutical Blister Packaging Market expands across:
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,
Recent Developments in the Global Energy Bar Market
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.
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Frequently Asked Questions
A. The Energy Bar Market is projected to grow at a CAGR of around 5.6% during 2023-28.
A. Increased expenditure on food and beverage, growing health consciousness, substantial shifts in meal patterns & existing food habits, and shifting taste preferences worldwide are the prominent factor is expected to drive the Energy Bar Market during 2023-28.
A. The top players in the market are Brighter Foods Ltd, Clif Bar & Company, General Mills, Inc., Kind LLC, McKee Foods Corporation, NuGo Nutrition, Premier Nutrition Inc., Probar LLC, Quest Nutrition, Kellogg Company, Others.
A. ‘Nutrition Bar’ is anticipated to emerge as an area of remunerative opportunities for the leading players in the Energy Bar Market during the forecast period.
A. Globally, ‘North America’ would provide lucrative prospects for the Energy Bar Market in the years ahead.
A. A considerable population share turning vegan worldwide has been shaping the growth of the Energy Bar Market during 2023-28.
A. Utilization of allergy triggering ingredients in the energy bar might hinder the market growth in the coming years.