Energy Bar Market to Reach Valuation of US$ 931 Mn by 2028: Industry Probe

April 02, 2020, Domain: Consumer Goods & Retail

According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Energy Bar Market (Product: Activity Bar, Meal Replacement Bar, Protein Bar, Endurance Bar, and Others [Oats Bar, etc.]; Type: Organic/Natural and Synthetic; End User: Men and Women; and Distribution Channel: Online [Company Websites, Ecommerce Websites] and Offline [Hypermarkets/Submarkets, Specialty Stores, Brand Stores, and Multi-brand Stores]) – Global Industry Dynamics, Trends, and Forecast, 2021–2028,’ the global energy bar market is expected to reach US$ 931.8 Mn by 2028 and expand at a CAGR of ~6% from 2020 to 2028.

Overview

  • The global energy bar market was valued at US$ 560 Mn in 2019 and is expected to expand at a CAGR of ~6% from 2020 to 2028. Growing snacking trends and a rise in awareness about health and fitness are anticipated to boost the global market for energy bars during the forecast period.

  • North America held a major share of the global energy bar market in 2019, followed by Europe and the Asia Pacific

  • The Middle East & Africa and South America are expected to be a key upcoming market for energy bar during the forecast period. Energy bars are a great source of nutrition and are high in protein, carbohydrates, vitamins, minerals, fibers, and others. Hence, the market is expected to witness significant growth in the coming years.

Driving Factors

  • Energy bars are primarily consumed by athletes and fitness enthusiasts. However, change in lifestyle has led to increased adoption of energy bars by lifestyle users. Hence, growing demand is significantly driving the growth of the energy bars market.

  • Moreover, nutrients are essential to fuel for our bodies to function properly. Energy bars are a great source of nutrition, which is fuelling the demand for energy bars in the global market

Key Challenges

  • Along with sugar and calories, energy bars also contain food additives, which is expected to hamper the market growth in the coming years. Extra sugar and calories contribute to weight gain, and not to mention tooth decay. Several ingredients have an adverse effect on human health too. These factors are expected to restrain market growth.

Market Preference

  • On the basis of product, the activity bar segment held a major share of the global market in 2019. In terms of type, the synthetic segment accounts for the major share in the global energy bar market. Based on end-user, the men segment is a major contributor to the growth of the global energy bar market.

  • In terms of distribution channel, offline is expected to be the most attractive segment during the forecast period, due to the preference of consumers for offline shopping

  • In terms of region, the North American region accounts for a major share of the global energy bar market, followed by Europe and the Asia Pacific

  • Consumers in North America are more aware of health and fitness and are increasingly taking part in several sports and fitness activities. This is leading to the growing demand for energy bars in the North American market.

Competition Landscape

  • The energy bar market is dominated by several players that are focused on the development of new products to cater to the rising demand

  • The report includes the below-mentioned pointers of major players operating in the global energy bar market:

    • Company Overview

    • Product Profiling

    • Brand Share Analysis (2018)

    • Product Innovation

    • Business Strategies/Recent Developments

      • Technological advancements

      • Key Mergers & acquisitions

      • Expansion strategies

    • Company Financials

Major Players Covered Under the Scope:

  • Abbott Laboratories

  • GNC Holdings, Inc.

  • Post Holdings, Inc.

  • Atkins Nutritional Inc.

  • Glanbia Plc

  • Herbalife International, Inc.

  • Clif Bar & Company

  • Rapid Nutrition PLC

  • The Gatorade Company, Inc. (PepsiCo, Inc.).

  • The Nature's Bounty Co.

Market Segmentation/Research Scope

Global Energy Bar Market – Global Industry Dynamics, Trends, and Forecast, 2021–2028

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