Protein Bar Market
Protein Bar Market - Global Industry Assessment & Forecast
- By Sources Plant-Based, Animal-Based
- By Types Sports Nutrition Bars, Meal Replacement Bars, Other Types
- By Distribution Channels Mass Merchandisers, Specialty Stores, Convenience Stores, Online Channels, Other Channels
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2023 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 4.22 Billion|
|Revenue 2030:||USD 6.53 Billion|
|Revenue CAGR (2023 - 2030):||5.60%|
|Fastest Growing Region (2023 - 2030)||Asia Pacific|
|Largest Region (2022):||North America|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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Global Protein Bar Market is valued at USD 4.22 Billion in 2022 and is projected to reach a value of USD 6.53 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.60% over the forecast period.
Protein Bars are convenient on-the-go snacks with a high ratio of protein to carbohydrates and fat. In addition to other nutrients, it is an important source of proteins. The proteins in Protein Bars stimulate protein synthesis, promote muscular growth, and inhibit fat storage. Consumers today favor foods that are convenient for use, storage, and handling above those with health benefits. In this regard, the convenience of healthful ready-to-eat foods such as Protein Bars is a big selling advantage. The demand for processed and convenience foods is rapidly increasing as a result of increasing socioeconomic needs, greater health consciousness, and a lack of time to prepare nutrient-dense meals. Consequently, the demand for Protein Bars increases substantially. People choose the energy and weight-management goods like Protein Bars to stay fit and healthy in their daily lives. This change in lifestyle preferences drives the worldwide Protein Bar Market. The availability of Protein Bars worldwide and the growing Protein Bar consumer base are further factors fostering market expansion. The marketing and promotional endeavors of new entrants are predicted to have a substantial impact on the expansion of the industry. However, recalling Protein Bar products due to varying sensitivities caused by various components in their composition can affect the worldwide Protein Bar Market.
Protein Bar Market Size, 2022 To 2030 (USD Billion)
The Protein Bar Market is segmented by Sources, Types, Distribution Channels and Region. Based on the Sources, the market is segmented into Plant-Based and Animal-Based. Furthermore, based on the Types, the market is divided into Sports Nutrition Bars, Meal Replacement Bars, and Other Types. In addition, based on the Distribution Channels, the market is further bifurcated into Mass Merchandisers, Specialty Stores, Convenience Stores, and Online Channels. Likewise, based on the Region, the Global Protein Bar Market is further divided into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
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Based on Sources
The plant-based category dominated the market in 2021
The plant-based category is expected to increase at the highest rate during the forecast period, as they are made from a variety of nutritious natural ingredients, such as fruit, nut butter, and seeds, which help the body fight against a variety of diseases. The global popularity of vegetarianism contributes to the product's expanding demand as an increasing number of persons adopt a plant-based diet to live better lives. Additionally, plant-based bars contain less fat, resulting in increased demand among obese individuals.
Based on Types
The sports nutrition bars category dominated the market in 2021
Due to the high protein content, which provides essential nutrients for body repair and performance enhancement, the sports nutrition bars category is expected to develop at the fastest rate over the projected period. Sports nutrition bars contain cereals and other high-energy meals that may rapidly give energy in a short amount of time, which helps to improve the product's consumption among players of various sports, including football, basketball, cricket, and others. Additionally, the increasing popularity of long-distance endurance sports like triathlons and marathons helps the product gain traction because these sports are often designed to be accessible to the general public.
Based on Regional Analysis
Asia Pacific is projected to grow at the highest CAGR during the forecast period
Asia-Pacific is anticipated to expand at the greatest CAGR in the Protein Bar Market over the projected period, due to the region's vast population base and prevalence of overweight individuals. The use of Protein Bars complements nutritional supplements and bolsters muscle-building exercises. Large firms target the Asia-Pacific market with consistent marketing and advertising to attract customers due to the region's massive population. As protein consumption becomes more well-known in countries like China and India, the demand for Protein Bars will increase, affecting regional growth.
The key players in the Protein Bar Market include- General Mills Inc. (U.S.) The Simply Good Foods Company (U.S.), The Kellogg Company (U.S.), Clif Bar & Company (U.S.), Glanbia PLC. (Ireland), GNC Holdings Inc. (U.S.), Mars, Incorporated (U.S.), Mondelez International (U.S.), Post Holdings INC. (U.S.) , Amway Corp. (U.S.), The Bountiful Company (U.S.) and others.
· In August 2021, the keto Protein Bar lineup of “think!”, a brand of Glanbia Nutrition, has been expanded with new flavors, further increasing the demand for its products and the market share of the organization.
· In June 2021, Kellogg's spinoff called RXBAR introduced its first plant-based food. RXBAR Plant has 10 grams of protein and omits the recognizable egg white protein that the brand is known for in favor of pea and almond protein.
Segmentation of Protein Bar Market
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
What is the global demand for Protein Bar in terms of revenue?
The global Protein Bar valued at USD 4.22 Billion in 2022 and is expected to reach USD 6.53 Billion in 2030 growing at a CAGR of 5.60%.
Which are the prominent players in the market?
The prominent players in the market are General Mills Inc. (U.S.) The Simply Good Foods Company (U.S.), The Kellogg Company (U.S.), Clif Bar & Company (U.S.), Glanbia PLC. (Ireland), GNC Holdings Inc. (U.S.), Mars, Incorporated (U.S.), Mondelez International (U.S.), Post Holdings INC. (U.S.) , Amway Corp. (U.S.), The Bountiful Company (U.S.).
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 5.60% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
The driving factors of the Protein Bar include
- Convenient and nutritional on-the-go snacking is in high demand
Which region accounted for the largest share in the market?
North America was the leading regional segment of the Protein Bar in 2022.