The latest market report published by Acute Market Reports “Protein Bars Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the protein bars market was valued at US$ 1,250 Mn in 2018 and expected to grow at a CAGR of 6.7% during the forecast period from 2019 to 2027.
“Increasing demand for convenience food drives the overall protein bars market”
Global health and wellness trends drive the overall protein bars market. The research study suggests that there is a 70% increase in the consumption and launch of new energy and cereal bars during the past few years. Thereby, supports the growth of the market. Moreover, more than 50% of the consumers in the U.S. consume any type of snack and other bars products on a regular basis. Additionally, about 25% of consumers consume meal replacement bars.
Major manufacturers of protein bars are expanding their reach and entering into new geographies. For instance, in December 2018, Tom Oliver Nutrition, a UK-based supplement firm expands its reach into the Asia market. Through this expansion, Tom Oliver Nutrition aims to deliver its newly launched high-protein bars into the Asia Pacific market. Tom Oliver can capture a number of opportunities such as increasing health consciousness from the Asia Pacific markets by offering new nutritious products.
Top manufacturers of protein bars are focusing to increase their product portfolio by launching new bars in the market.
• In November 2019, Suspro Foods increased its product portfolio by launching new bars. The new bars are offer benefits of both nutrition and protein bars. Moreover, the new bars derived from allergen-friendly and plant-based proteins. The bars come in two categories namely, snack protein and high protein.
• In May 2019, Science in sports (SiS) launched a new high protein plant-based bar. The Smart Bar Plant is a vegan bar, having low sugar content. The smart bar plant is mainly designed for gym and sportspersons. The Smart Bar Plant is approved by the Vegetarian Society as vegan and composed of 100% natural and gluten-free ingredients.
• In June 2018, Tom Oliver launched a new vegan protein bar. The new protein bar offers 15% fewer calories, 38% less fat, and 15% more protein than other protein bars in the market. Moreover, the new protein bar comes in four flavors chocolate mint, chocolate caramel, chocolate coconut, and chocolate raspberry.
Key Market Movements:
• Globally, the protein bars market is rising at a CAGR of 6.7% for the estimated period from 2019 to 2027
• North America dominated the global protein bars market in the year 2018 and expected to continue its dominance during the forecast period. The dominance is due to increasing health consciousness among people and increasing demand for healthy and ready to eat food in the region.
• Europe expected to grow considerably due to rising consumer preference for natural products and gluten-free products. The growth of food emulsifiers in the European market is driven by factors such as increasing health and fitness trends among European consumers.
• The protein content segment sub-divided into high protein, medium protein, and low protein. The high protein holds the largest share in the year 2018 due to the inclination of consumers towards fit and healthy lifestyles.
• The category segment further classified into nutrition bars, gluten-free bars, and others. The nutrition bars hold the largest segment in 2018. As nutrition bars offer weight loss tool for overweight and obese people.
List of Companies Covered:
• Tom Oliver Nutrition
• The Balance Bar Company
• Caveman Foods LLC
• Clif Bar & Company.
• Kellogg NA Co.
• Simply Good Foods USA, Inc.
• NuGo Nutrition
• Prinsen Berning
• Mars Inc.
• General Mills, Inc.
Browse the full report at https://www.acutemarketreports.com/report/protein-bars-market
The Global Protein Bars Market is Segmented into:
|Segmentation||By Product Type (2017–2027; US$ Mn)|
|By Category (2017–2027; US$ Mn)|
|By Protein Content (2017–2027; US$ Mn)|
|By Distribution Channel (2017–2027; US$ Mn)|
|By Geography (2017–2027; US$ Mn)|
*Complete segmentation list is on a report page
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