Nutrition Bars Market

Global Nutrition Bars Market Size (2024 to 2029)

The Size of Nutrition Bars Market is expected to be at USD 12.22 million in 2024 to USD 45.38 million in 2029 with a CAGR of 30% from 2024 to 2029.

Nutrition Bars are a collectible handful that is low in sugar, high in protein, and omega-3s with fewer additives. They are considered a healthy alternative to other bars due to their high protein and fiber content. There are different types of nutritional bars on the market which include protein bars, meal replacement bars, snack bars, whole food bars, and others. In addition, they are available in different flavors such as chocolates, fruits, peanut butter, savory, spices, and others. The wide variety of nutritional bars is driving the growth of the worldwide market.

Global Nutrition Bars Market Drivers and Restraints:

Rapidly changing consumer preferences is one of the key drivers of innovations in the food and beverage industry. Today, due to the steady increase in the number of health-conscious people around the world, as well as the growing awareness of the benefits of nutrition bars, current trends suggest that the demand for nutrition bars will increase probably at an impressive rate in the next years.

Due to the rapidly changing lifestyle, especially in urban areas of the world, a growing number of consumers are turning to take-out products to meet their nutritional needs. Therefore, nutritional bars have gained considerable popularity in recent years. In addition, a large number of players have gradually entered the global nutritional bar market over the past decade, due to the fact that nutritional bars of different flavors, sizes, and nutritional content is available through various distribution channels. The digital boom of recent years is another factor that has played an imperative role in increasing the popularity quotient of nutritional bars as brands continue to promote their products through online sales channels, including social media, newsletters, and email marketing. As competition in the global nutritional bars market continues to grow, market players are supposed to focus on packaging, pricing strategies, and marketing strategies to gain an edge in today's market landscape. Although the popularity of protein bars is reaching new heights, brands are increasingly focusing on reducing the sugar content and using artificial ingredients in their products, a factor that is likely to drive the market for nutrient bars during the estimated period. In many parts of the world, nutrition bars have gradually become a meal replacement alternative. Therefore, the demand for nutrition bars is likely to increase during the evaluation period. Additionally, the consumption of nutrition bars among athletes and sportsmen, along with the growing number of paid partnerships with influencers on social media, is determined to drive overall sales of nutrition bars worldwide. However, the high cost and easy availability of substitutes in the market are supposed to limit the growth of the target market during the foreseen period.

Impact of COVID-19 on Nutrition Bars Market:

The emergence of the new coronavirus pandemic is expected to affect the growth of the global nutrition bar market in 2020. Due to strict closures imposed by governments around the world, retail stores, shopping malls, supermarkets, and other channels sales have been temporarily closed. However, various brands have turned to e-commerce platforms to generate revenue and drive sales during the lockdown period. Right now, as government lockdown restrictions are lifted in various countries, offline sales are increasing for nutritional bars.

REPORT COVERAGE: 

This research report on the Global Nutrition Bars Market has been segmented and sub-segmented based on type, flavour, and region. 

Global Nutrition Bars Market – By Type:

The global nutrition bar market is segmented by types such as

• protein bars
• meal replacement bars
• snack bars.
• whole food bars

Among all, protein bars dominate the market. Protein bars are rich in protein and growing consumer concern about the nutritional level of the foods they eat is driving the market for protein bars. However, meal replacement bars are expected to see the strongest growth during the forecast period.

Global Nutrition Bars Market – By flavours:

• chocolates
• fruits
• peanut butter
• salt
• spices

Chocolate is the dominant flavor among all. However, the fruit and peanut butter segments are expected to see steady growth over the forecast period. According to the distribution channel, the nutritional bars are segmented as offline and online. However, nutritional bars are sold primarily through offline channels like food wholesalers, retail stores, and food service providers.

Global Nutrition Bars Market – By Region:

The global Nutrition Bars market has been categorized by geography as

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Among these, the North American nutrition bar market is expected to account for a significant revenue share in the global market, due to the standard of living associated with high disposable incomes in countries in the region. Additionally, the presence of key players in the United States and Canada, as well as the increasing consumption of take-out food products due to a hectic lifestyle, is supposed to further increase the demand for nutrition bars during the outlook period.  products.

KEY MARKET PLAYERS:

The key market players of global Nutrition Bars market are The Gatorade Company, Inc, Glanbia plc, Abbott, Clif Bar & Company, Optimum Nutrition, Inc, Chicago Bar Company LLC, Nestlé, Muscleblaze, Nutrition & Santé

RECENT HAPPENINGS IN THE INDUSTRY :

• In January 2017, SternLife GmbH & Co. KG launched organic vegan bars that make organically grown dates the basis of these bars. These bars were released in two flavors: superfood hemp seed cocoa and lemon-flavored with ginger and chili. This development was carried out to target vegan athletes and athletes.
• Hershey is poised to strengthen its presence in the snack business with the acquisition of the manufacturer of a line of low sugar and high protein bars, ONE Brands. The $ 397 million deal, which was announced within a week of a minority investment by the American chocolate giant in Irish protein bar company Fulfill, was supposed to complete by the end of 2019.
• Simply Good Foods Co., a developer and distributor of nutritional foods and snacks under the Atkins and Simply Protein brands, agreed to acquire Quest Nutrition, LLC, El Segundo, California, for $ 1 billion in cash, or approximately $ 870 million, net of tax benefits, no cash and no debt. Quest Nutrition manufactures and markets a line of products under the Quest brand, which includes protein bars, protein cookies, protein powders, protein chips, and frozen pizzas.