Protein Bars Market By Product Type (Snack Bars, Energy Bars, Meal Replacement Bars, Others), By Category (Nutrition Bars, Gluten-Free Protein Bars, Others), By Protein Content (High Protein, Medium Protein, Low Protein), By Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online, Others) - Growth, Share, Opportunities & Competitive Analysis, 2019 -2027
Growing health awareness increases the demand for protein bars market.
The protein bars market is expected to grow at a CAGR of 6.7% during the forecast period from 2019 to 2027, starting from US$ 1,250 Mn in 2018.
Consumers nowadays are more inclined towards using convenience and high-protein content food products. As per recent research studies, about 90% of American purchase convenience food. Moreover, 25% of consumers opt for time-saving and ready-to-eat food products. Thereby increasing the demand for protein bars globally. Additionally, protein bars can be consumed by chronic kidney disease patients as these bars can act as good protein. Moreover, protein bars resemble snacks or candy bars, thereby gaining wide acceptance among patients globally.
Manufacturers are launching new and improved protein bars in the market. Key manufacturers are focusing on providing innovative protein bar products in the market. For instance, in June 2018, Think kids launched a new protein bar for kids. The new protein bar for kids has 45 percent less sugar. The Think kids bar offers a balance between taste and nutrition. Moreover, the Think kids bar is GMO-free, Gluten-free, and produced without adding artificial colors and flavors. Increasing demand for collagen-based products is one of the key factors driving the protein bars market.
Market Synopsis
Category Analysis
Rising demand for meal replacement products supports the demand for nutritional bars globally.
In 2018, the nutrition bar dominated the protein bars market and was expected to continue its dominance during the forecast period. Consumers nowadays are more inclined to use meal replacement products. Nutrition bars are the best available source for meal replacement. As per research studies, 95% of the people in the U.S. suffers from type 2 diabetes, and the majority of type 2 diabetes patients are overweight. Thereby increasing the demand for nutrition bars as nutrition bars are simple and effective weight loss tools. Moreover, nutrition bars have gained a lot of popularity in recent years and are proven to be viable options for supportive weight loss.
Major manufacturers are increasing their product portfolio to provide consumers with new nutrition bars. For instance, in August 2019, the Hershey Company acquired One Brand LLC. The One Brand LLC produces high-protein nutrition bars with low-sugar content. Through the acquisition, Hershey aims to increase its product portfolio in the nutrition bars.
Regional Analysis
Rising demand for healthy food in the North American region propels the market growth.
North America dominated the protein bars market in 2018 and is expected to continue its dominance during the forecast period. Consumers in the North American region are more inclined towards using plant-based and clean label-based bars. Thereby increasing the demand for protein bars in the region. Moreover, consumers are inclined towards protein-rich food in the U.S. and Canada. The research study suggests that the growth of products labeled as good sources of protein accounts for about 4%; additionally, products labeled as excellent sources of protein record growth of up to 12% in the past few years.
Asia Pacific is projected to be the fastest growing market for protein bars market.
Increasing awareness of consumers towards healthy foods products and rising per capita income of people in the Asia pacific region support the growth of the market. Moreover, the increasing number of gyms and health clubs and fitness trends in the region also drive the protein bars market.
List of Companies Covered:
Tom Oliver Nutrition
Abbott.
The Balance Bar Company
Think!
Caveman Foods LLC
Clif Bar & Company.
QuestNutrition
Kellogg NA Co.
Simply Good Foods USA, Inc.
NuGo Nutrition
Prinsen Berning
Mars Inc.
General Mills, Inc.
Key Industry Developments:
In October 2017, Kellogg Co. acquired RXBAR. RXBAR is a niche manufacturer of protein bars. Through the acquisition, Kellogg Co. aims to add clean-label, high-protein snaking to its product portfolio.
In February 2017, General Mills Inc. invested in D’s Natural. D’s Natural is a Denver-based company that manufactures vegan, dairy-based protein bars. D’s Natural is famous for its No Cow Bar, a protein-infused nut spread, and Fluffbutter. D’s Natural products are sold in around 10,000 stores nationwide.
In July 2019, General Mills Inc. launched a new product. The new Larabar is a protein bar prodded from plant-based proteins. The Larabar protein bar contains 11 grams of plant-based protein from nuts and peas. The new protein bars are vegan, dairy, and gluten-free and are available in an almond chocolate brownie, chocolate peanut butter cup, and apple cobbler flavors.
In January 2018, Nature’s Bounty acquired protein bar manufacture, The Best Bar Ever. The acquisition aims to introduce a new range of sport nutrition products to Nature’s Bounty product portfolio. The Best Bar Ever produces protein bars from natural ingredients that are available in flavors such as cookie dough, peanut butter crunch, and chocolate peanut butter.
Historical & Forecast Period
This study report represents an analysis of each segment from 2017 to 2027considering 2018to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Others (Women's Protein Bars, Low-Carb Protein Bars)
Category (2017–2027; US$ Mn)
Nutrition Bars
Gluten-Free Protein Bars
Others (Vegan, Organic Bars, etc.)
Protein Content (2017–2027; US$ Mn)
High Protein
Medium Protein
Low Protein
Distribution Channel (2017–2027; US$ Mn)
Supermarkets & Hypermarkets
Convenience Stores
Online
Others (Specialty Stores, etc.)
Geography (2017–2027; US$ Mn)
North America (U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (Japan, China, India, Rest of Asia Pacific)
Rest of the World (Latin America, Middle East & Africa)
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall protein bars market. Additionally, the global report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.
Key questions answered in this report
What are the current market trends and dynamics in the protein market and valuable opportunities for emerging players?
What is driving the protein bars market?
What are the key challenges to market growth?
Which segment accounts for the fastest CAGR during the forecast period?
Which product type segment holds a larger market share and why?
Are low and middle-income economies investing in the protein bars market?
What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
Frequently Asked Question:
The market for Protein Bars Market is expected to reach USD$ 1,250 Mn in 2027.
The Protein Bars Market is expected to see significant CAGR growth over the coming years, at 6.7%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Tom Oliver Nutrition,Abbott.,The Balance Bar Company,Think!,Caveman Foods LLC,Clif Bar & Company.,QuestNutrition,Kellogg NA Co. are some of the major players in the global market.
