Global Protein Bar Market Size To Grow At A CAGR Of 6.40% Between 2023 And 2028
The ‘Global Protein Bar Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global protein bar market, assessing the market on the basis of its segments like sources, types, protein contents, distribution channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Protein Bar Market Size, Share, Price, Trends, Growth, Key Players, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 40%
One of the major protein bar market drivers is growing health awareness. Consumers have come to understand the importance of a healthy diet and regular exercise, hence driving the demand for protein bars due to their high nutritious content.
Protein bars increase protein intake without adding extra calories or carbs. They can also provide essential minerals, enhance energy levels, and support muscle building, which is expected to drive the market demand.
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Product innovation plays a crucial role in the protein bar market expansion, and market players are introducing sustainable bars with the latest protein fortification. As more people seek organic, savoury, and easily accessible snacks, protein-rich bars incorporated with healthy and organic ingredients are gaining popularity.
With the increasing lactose-intolerant population and the rising demand for convenient protein-fortified food products among the younger generation, manufacturers are using innovative technologies to remove lactose from protein bars.
Protein Bar Industry Definition and Major Segments
Protein bars are a type of nutritional supplement that contain a high proportion of protein and carbohydrates/fats with several essential vitamins and minerals. They are typically made to be consumed just after a workout, as a meal replacement, or as a snack. A protein bar’s nutritional makeup might vary greatly between manufacturers and even flavours.
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Based on the source, the market for protein bar can be bifurcated into:
- Plant-based Protein Bar
- Animal-based Protein Bar
The protein bar market, based on type, can be divided into:
- Sports Nutritional Bars
- Meal-Replacement Bars
- Snack Bars
Based on the protein content, the market can be segmented into:
- Low Protein (0-15 grams) Bar
- Medium Protein (16-25 grams) Bar
- High Protein (Above 25 grams) Bar
The various distribution channels in the market are:
- Supermarkets and Hypermarkets
- Convenience Stores
- Specialist Retail Stores
The major regional markets for protein bars include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Protein Bar Market Trends
The demand for protein bars made from gluten-free plant sources is expected to rise as specialised diets like lactose-free, vegan, and gluten-free become more widespread.
The Asia Pacific region is expected to witness robust growth as healthy snacks and food supplements are gaining popularity in countries like China, Japan, and India, among others. The most popular healthy protein bars on the market are anticipated to be natural and non-GMO. With surging product innovations in China, India, and other countries, the region is anticipated to significantly contribute to the overall protein bar market development in the forecast period.
Key Market Players
The major players in the global protein bar market report include Clif Bar & Company, General Mills, Inc., Kellogg Company, Abbott Laboratories, Quest Nutrition, and Hormel Foods Corporation, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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