Global Energy Bar Market 2021-2031

Global Energy Bar Market 2021-2031

Bonafide Trust 05-05-2022 158 Pages
Region : Global Category : Food & Beverages Food

Global energy bar market will reach $6,597.3 million by 2031, growing by 5.8% annually over 2021-2031, driven by the increasingly health-conscious consumer preference for convenient snacks, growing awareness of the benefits of energy bars, growth of digital marketing and social media influencers & athletes, the emergence of novel products coupled with the entry of new market players, and increasing urbanization and household income. Globally, the demand for convenience foods is increasing at a faster rate as a result of changes in social and economic patterns as well as increased food & beverages expenditure, awareness about healthy foods, changes in meal patterns and existing food habits, and a desire to try new products. Due to hectic lifestyles, on-the-go snacking is becoming extremely popular, particularly among working-class people, teenagers, people living in hostels, and bachelors. Furthermore, the concept of on-the-go snacking is closely associated with the ease of consumption and handling of products, which energy bars provide. Therefore, the demand for energy bars is increasing as a result of the associated convenience of consumption to boost energy aided by disposable packaging that prevents the bars from coming into contact with hands, keeping them clean to work at the same time. 

Energy bars are supplement bars that provide energy as well as nutritive value and food benefits. They contain carbohydrates, fats, and proteins, which help to provide immediate energy and are frequently used as a meal replacement. The protein and added carbohydrates in the bar can provide the energy one needs to get through workouts or training. It also provides the post-workout nutrition the body requires to build new muscle tissue and repair any minor muscle tears that occurred during the workout.  Consumer demand for convenient and healthy on-the-go snack options has been the most important factor driving the global energy bar industry sales. Furthermore, attributed to their small packaging and high energy content, it is an ideal solution for adults who require immediate results. It also contains proteins, other nutrients, and micronutrients that are needed on a daily basis, resulting in a well-balanced diet in a small package. Moreover, according to a survey in 2018 by U.S. Food and Drug Administration, a federal agency of the Department of Health and Human Services, in America people do not get sufficient or right amount of dietary fibres; therefore, healthy energy bars are the best sources of fibre and nutrition that come in different flavours. All such aspects in the food sector are leading to the overall growth of the energy bar market. Equivalently, companies that are emerging in the energy bar industry are already leading market players to innovate strategies for customers. For example, in August 2019, the Hershey Company, the largest chocolate manufacturer in the world and an American multinational company, announced that they acquired One Brand LLC, US-based food industry. The main aim of the acquisition is to increase the productivity of nutrition bars that have low-sugar content and are high-protein nutrition bars. These types of initiatives from market leaders are also predicted to drive the growth of the market.

Highlighted with 81 tables and 85 figures, this 158-page report “Global Energy Bar Market 2021-2031 by Product Type (Protein Bar, Nutrition Bar, Cereal Bar, Fiber Bar), Nature (Organic, Conventional), Flavor (Fruit, Chocolate, Nut, Mixed), End User (Adults, Kids), Application (Bodybuilders, Pro/Amateur Athletes, Others), Distribution Channel, and Region: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire global energy bar market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2018-2021 and provides a forecast from 2022 to 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

The extensive growth of the North American energy bar market is mainly driven by higher disposable incomes with the existence of top leading companies augmenting the industry growth in the region. Moreover, growing trends of healthy diets after workouts that give instant energy is one of the factors that is fueling the market growth across the globe. These factors will ultimately drive the demand in the energy bar market across the region. The growth in Asia-Pacific (APAC) can be a result of rising awareness of people toward healthy snacking along with increasing per capita income of people. In addition to this, increasing trends of gyms and different yoga or health clubs in the region also drive the energy bar market. Such aspects may bolster the demand for the energy bar market, in the upcoming years. 

Gym culture and fitness routines are becoming increasingly popular across the world. Memberships in gyms and fitness centers have steadily increased over the last 8 to 10 years. As a result, there has been a significant increase in demand for performance nutrition foods such as energy bars. Energy bars are well-known for providing consumers with instant energy, making them an excellent choice for pre & post-workout meals for gym members. The millennials are known to be more involved in fitness and recreational activities, thereby increasing the demand for energy bars. Sports nutrition bars have gained popularity, majorly among athletes and individuals engaging in physical activities. The rising awareness of the importance of fitness and staying healthy is increasing participation in sports, health clubs, sports clubs, and gyms, which is one of the key drivers contributing to the growth of the energy bars market. Energy bars have also found high levels of popularity in the sports nutrition market as sports activities involve lots of energy breakdown. Energy bars are a convenient and efficient option for supplying instant energy to athletes. Hence, the demand for these products is gaining traction among athletes.

On the other hand, energy bars cannot be used as a substitute for whole-food sources as they do not contain all the required ingredients and excessive consumption of energy bars adds additional calories to the diet, which are the main factors restricting the market. However, a rise in the number of food allergies as a result of specific food products coupled with various regulations regarding specific ingredients is expected to act as a restraint on the growth of the energy bar market while lack of product preference may pose a challenge to the energy bar market growth. The COVID-19 pandemic generated opportunities for many private players to enter the market to cater to the inflated demand for snack products, which benefited the manufacturers of energy bars. The demand for innovative snacks is consistently growing in developed countries due to the associated convenience of storing, quick usage, and accessible provision of nutrition and energy requirements. During the COVID-19 pandemic-induced lockdowns, the sales of products like snacks, bars, and other convenience foods, increased through online stores, which sustained the demand for energy bars in the market. The demand for innovative snacks is consistently high in developed countries, owing to the associated convenience of storage, quick usage, and easy provision for nutrition and energy requirements. During the lockdown, online stores witnessed a remarkable increase in sales of products, such as snacks, bars, and other convenience foods, sustaining the energy bar market demand. Most people preferred to buy in bulk as they were afraid of running out of products. As a result, large basket of energy bar market size remained a significant reason for the survival of snacks and bars in all regions. 

The trend and outlook of the global market are forecast in an optimistic, balanced, and conservative view by taking into account of COVID-19 and the Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify the global energy bar market in every aspect of the classification from perspectives of Product Type, Nature, Flavor, End User, Application, Distribution Channel, and Region.

In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces

Based on Product Type, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
• Protein Bar
• Nutrition Bar
• Cereal Bar
• Fiber Bar

Based on Nature, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
• Organic Products
• Conventional Products

By Flavor, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
• Fruit Flavor
• Chocolate Flavor
• Nut Flavor
• Mixed Flavors

By End User, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
• Adults
• Kids

By Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
• Bodybuilders
• Pro/Amateur Athletes
• Other Applications

By Distribution Channel, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section.
• Specialty Stores
• Online Sales Channels
• Hypermarkets & Supermarkets
• Convenience Stores
• Other Distribution Channels

Geographically, the following regions together with the listed national/local markets are fully investigated:
• North America (U.S., Canada, and Mexico)
• Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (UAE, Saudi Arabia, South Africa, Other Nations)
For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of key national markets by Product Type, Nature and Distribution Channel over the forecast years are also included.

The report also covers the current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

The energy bars market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to energy bars market.

Selected Key Players:
Brighter Foods Ltd.
Cliff Bar & Company
General Mills Inc.
Kellogg Company
Kind LLC
McKee Foods Corporation
NuGo Nutrition
Premier Nutrition Inc
Probar LLC
Quest Nutrition
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

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