Europe Plant-based Bars Market Outlook, 2028

Europeans have become more health-conscious, with many recognizing the potential health benefits of a vegan diet. A vegan lifestyle is often associated with lower rates of chronic diseases such as heart disease, diabetes, and certain types of cancer. This awareness has driven individuals to adopt veganism as a way to improve their overall health. Europe has been at the forefront of the global environmental movement. People across the continent are increasingly concerned about climate change, deforestation, and the impact of animal agriculture on the planet. Veganism is seen as an eco-friendly choice, as it requires fewer resources and generates fewer greenhouse gas emissions compared to diets based on animal products. High-profile celebrities, athletes, and chefs in Europe have embraced veganism and used their platforms to promote its benefits. Their endorsements have contributed to the trend's popularity and visibility. Vegan options are now readily available in European supermarkets, restaurants, and cafes. Many major food chains and fast-food restaurants have introduced vegan menu items, making it more convenient for people to make plant-based choices. Europe hosts numerous vegan events and festivals, drawing large crowds and fostering a sense of community among vegans. These gatherings provide opportunities for people to learn more about veganism and discover new plant-based products. Younger generations, particularly Millennials and Generation Z, are more likely to embrace veganism and plant-based diets. They are more attuned to issues like sustainability, animal welfare, and health, making them a driving force behind the vegan trend in Europe. Consumers in the region are choosing to reduce their consumption of animal products and are increasingly turning to plant-based alternatives such as plant-based bars. The availability of plant-based bars in Europe has increased in recent years. Many supermarkets and health food stores now stock a wide variety of plant-based bars, making it easier for consumers to find and purchase these products. This has led to greater consumer awareness and interest in plant-based bars. Plant-based bars are a convenient and portable snack option for people following a vegan or vegetarian diet, and this has led to increased consumption of these products. According to the research, Germany, the UK, and France are the top three consumers of plant-based protein ingredients. According to the research report, “Europe Plant-based Bars Market Outlook, 2028” published by Bonafide Research, the market is anticipated to grow during the forecast period. Plant-based protein bars contain very little saturated fat, sodium, and cholesterol, providing amazing benefits, such as improving gut health and reducing the risk of cancer and cardiovascular disease. All of these factors are driving the growth of the European Plant-Based bars market. The European Plant-Based Protein market has seen significant growth due to factors such as the wide application of dairy alternatives, protein drinks, protein bars, sports nutrition, meat alternatives, nutritional supplements, bakery products, and more. Plant-based diets are rich in nutrients like magnesium, protein, potassium, and vitamins K and C, which can improve muscle and bone health in people of all ages. In addition, plant proteins contain sulfur amino acids and tryptophan. These nutrients help the body make proteins and certain brain signaling chemicals. Oat protein, a type of plant protein, contains high amounts of essential amino acids that help build muscle, trigger chemical reactions in the body, transport nutrients, prevent disease, and perform other functions. In addition, the availability of sources of meat protein as a substitute for vegetable protein may also influence the growth of the European Plant-Based Protein market. Plant-based protein drinks are in high demand due to the increase in vegetarians, along with growing consumer awareness of the importance of protein in a weight loss diet. The growing awareness of the benefits of protein alongside a growing vegan population is a major factor supporting the growth of the European Plant-Based Protein market.

Other factors driving European Plant-Based Protein market growth include rising disposable income, rapid urbanization, increasing demand for high-protein diets, changes in consumer spending patterns, and growing concern about sourced products. Changing consumer preferences have shown a shift in consumers looking to adapt to a more nutritious diet with a focus on a more sustainable lifestyle and less dependence on animal protein, which could boost the European Plant-Based Protein market. Growing concern for animal products and the environment is driving a growing proportion of consumers to implement flexible diets that include European Plant-Based Protein as a key nutritional component. The increasing use of soy protein in the food industry and the growing health and wellness sector will drive the European Plant-Based Protein market. The growing popularity of plant proteins in nutraceuticals for sports supplements may help athletes increase endurance and improve performance, and during the forecast period, plant protein manufacturers in the nutraceutical industry will have a number of lucrative opportunities. However, with the steady growth of the food processing industry and the agricultural industry, there are opportunities for market participants to invest in the European Plant-Based Protein market. For instance, on 10 May 2022, SternLife and SternVitamin (subsidiaries of the German-based food ingredients enterprise Stern-Wywiol Gruppe) have launched vegan protein bars, water-soluble powder supplements and micronutrient premixes. SternVitamin (the producer of micronutrient premixes) launches a line of micronutrient premixes, while the manufacturer of functional foods and food supplements SternLife rolls out vegan protein bars and powder supplements. The new products are showcased at the Vitafoods Europe 2022 event in Geneva, Switzerland. Germany has been at the forefront of the plant-based bars market in Europe, experiencing significant growth in recent years. Germany has a growing vegan and vegetarian population, with nearly 10% of the population sticking to a vegetarian diet, one of the highest rates in Europe. Germany has gone so far as to create legal definitions of vegan and vegetarian for food labeling. The increased availability of higher-quality, more varied meat and dairy alternatives on supermarket shelves is primarily responsible for the surge in the popularity of veganism and other plant-based diets. Due to the creativity and innovative product launches of major manufacturers and large food corporations, the quality, and accessibility of plant-based products have significantly increased in the country. For instance, in September 2022, LikeMeat launched its new product Like Bacon which it claims is a gluten-free and soy-based bacon variant, marking the German food brand’s first breakfast product. The company claims that the new product Like Bacon is produced in its own vegan production facility in the Netherlands. The fact that this trend could continue in the coming years is also shown by the increasing number of vegetarians and vegans in Germany. Moreover, manufacturers are also keen on launching new products owing to the demand. Germany has seen the emergence of innovative plant-based bar brands that offer a diverse range of flavors and ingredients. These brands cater to different dietary preferences, including gluten-free, nut-free, and organic options. The German food scene has witnessed the growth of vegan restaurants and cafes, making it easier for consumers to explore and enjoy plant-based foods, including plant-based bars, in a restaurant setting. Based on the distribution channel, online sales provide consumers with the convenience of shopping from the comfort of their homes, offering a vast selection of plant-based bars from various brands. This convenience factor is particularly appealing to busy individuals and those with limited access to physical stores. Online platforms offer a broader range of plant-based bar brands, flavors, and specialty options compared to brick-and-mortar stores. Consumers can easily explore and discover new and unique products that cater to their specific dietary preferences and needs. Online retailers often provide detailed product descriptions, nutritional information, ingredient lists, and customer reviews. This transparency helps consumers make informed choices, especially when seeking specific plant-based, gluten-free, or allergen-free options. Some online platforms allow consumers to customize their orders, creating assortments of plant-based bars tailored to their preferences. Additionally, subscription services are becoming popular, ensuring a regular supply of plant-based bars delivered to consumers' doorsteps. Major e-commerce platforms, such as Amazon, have expanded their plant-based product categories, making it easier for consumers to find and purchase plant-based bars along with other related products. The COVID-19 pandemic accelerated the growth of online sales in various industries, including the plant-based bars market. Lockdowns and safety concerns led to an increased reliance on e-commerce for grocery and snack purchases. As online shopping becomes more common, consumers have gained trust in the safety and reliability of e-commerce platforms. This increased trust has contributed to the sustained growth of online sales.

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Manmayi Raval

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Trade shows and exhibitions: • Plant Based World Expo Europe (London, UK): This is the largest 100% plant-based trade event in Europe. It is a two-day event that features exhibitors from all over the world, including companies that produce plant-based bars and other food and beverage products. • Natural Products Expo Europe (Barcelona, Spain): This is a three-day expo that features exhibitors from all over the world, including companies that produce natural and organic products, including plant-based bars. • Anuga FoodTec (Cologne, Germany): This is a five-day trade fair that focuses on food processing and packaging technology. It is a good place to learn about the latest innovations in plant-based bar production. • FIE - Food Ingredients Europe (Frankfurt, Germany): This is a four-day trade show that focuses on food ingredients and additives. It is a good place to learn about the latest ingredients that can be used to produce plant-based bars. Considered in this report • Geography: Europe • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Europe Plant-based Bars with its value and forecast along with its segments • Country-wise Plant-based Bars market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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Countries covered in the report • Germany • United Kingdom • Spain • Italy • France • Russia By Product Type • Protein Bars • Energy Bars • Cereal Bars • Fruit and Nuts Bars • Others By Distribution Channel • Hypermarkets and Supermarkets • Convenience Stores • E-Commerce • Others The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the Plant-based Bars industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.