Wilmington, Delaware, United States, Sept. 25, 2023 (GLOBE NEWSWIRE) — The global nutrition bars market is projected to flourish at a CAGR of 4% from 2023 to 2030. As per the report published by TMR, a valuation of US$ 1.8 billion is anticipated for the market in 2030. As of 2023, the market for nutrition bars is expected to close at US$1.35 billion.
The nutrition bars market is anticipated to witness expansion owing to the increasing demand for ready-to-eat, functional food products, and gluten-free convenience food products.
The global nutrition bars market is also driven by the rising demand for confectionery products. The inclusion of functional ingredients such as probiotics, fibre, vitamins, and minerals in nutrition bars has attracted health-conscious consumers seeking specific health benefits.
The rising consumption of nutrition bars among athletes and sportsmen & women coupled with the growing number of paid partnerships with social media influencers is anticipated to boost the overall sales of nutrition bars worldwide.
The easy availability of nutrition bars through e-commerce platforms has expanded their reach to consumers who prefer online shopping, increasing market accessibility.
Increasing awareness of the importance of a healthy lifestyle and balanced nutrition has driven consumers to seek convenient and nutritious snack options like nutrition bars.
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|Estimated Revenue||US$ 1.8 Bn|
|Growth Rate – CAGR||4%|
|No. of Pages||328 Pages|
|Market Segmentation||By Product Type, Format, Function, Packaging, Nature, Sales Channel, Region|
|Regions Covered||North America, Latin America, Europe, Asia Pacific, Middle East & Africa|
|Companies Covered||Glanbia Plc., Nutrition & Santé SAS, Atlantic Grupa D.D., B.V. Vurense Snack Industries, Artenay Bars, SAS|
Key Takeaways from the Market Study
- As of 2022, the nutrition bar market was valued at US$1.3 billion
- By product, the protein-rich bars segment to enjoy high demand, accumulating a high revenue share during the forecast period
- Based on nature, the conventional segment is anticipated to dominate the industry during the forecast period
- Based on sales channels, the modern retail segment is expected to generate high revenue during the forecast period.
Nutrition Bars Market: Key Trends and Opportunistic Frontiers
- Increasing concerns about lifestyle-related health issues, including obesity and diabetes, have prompted consumers to choose healthier snacking alternatives like nutrition bars, driving the market demand
- Increasing technological advances and continuous innovation by manufacturers have led to a wide variety of nutrition bars, including those with unique flavours, textures, and ingredients, appealing to a broader consumer base.
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Nutrition Bars Market – Regional Analysis
- North America is a significant market for nutrition bars, driven by the high adoption of on-the-go snacks, busy lifestyles, and a strong emphasis on health and fitness. Consumers in these countries are increasingly seeking nutritious and convenient options.
- The Asia-Pacific region is witnessing substantial growth in the nutrition bars market due to increasing health awareness and changing dietary patterns. Urbanization, rising disposable incomes, and a shift toward western eating habits are boosting the demand for nutrition bars. As consumers in the region are becoming more health-conscious and seeking convenient, on-the-go snacks that provide nutrition, driving the market demand.
Key players operating their business in the global nutrition bars market are introducing various innovative ingredients-based products, the sourcing of ingredients, along health-beneficial properties. The manufacturers are also focusing on the acquisition of small-scale regional players for their business expansion. The prominent players operating in the global nutrition bars market, as profiled in the analysis, include
- Glanbia Plc.
- Nutrition & Santé SAS
- Atlantic Grupa D.D.
- B.V. Vurense Snack Industrie
- Artenay Bars
- Prinsen Food Group B.V.
- SternLife GmbH & Co. KG
- anona GmbH
- Halo Foods Ltd.
- Leader Foods OY
- Frankonia Schokoladenwerke GmbH
- Bedouin S.A.S
- Viba Sweets GmbH, among others
Key Developments in the Nutrition Bar Market
- Kellogg acquired RXBAR, a popular nutrition bar brand known for its simple and clean ingredients. This acquisition has allowed RXBAR to expand its product offerings and reach a broader consumer base.
- Quest Nutrition, a brand known for its high-protein bars, has continually introduced new flavors and variations of its bars to cater to a wide range of tastes and dietary preferences.
- RXBAR Following its acquisition by Kellogg, RXBAR expanded its product line to include new flavors and variations. They also focused on clean labeling and transparent ingredient lists to appeal to health-conscious consumers.
Partial Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Nutrition Bars Market Background
3.1. Macro-Economic Factors
3.2. Global Economic Outlook
3.2.1. Global GDP by Region and Country, 2020
3.2.2. Global Food & Beverage Industry Outlook
3.3. Value Chain Analysis
3.4. Key Participants
3.5. Market Dynamics
3.8.1. Product-level Trends
3.8.2. Consumer/demand-side Trends
4. Global Nutrition Bars Market Analysis 2015–2019 and Forecast 2020–2030
4.1. Market Volume (Metric Tons) Projections
4.2. Market Size (US$ Mn) Projections
4.2.1. Y-o-Y Projections
4.2.2. Absolute $ Opportunity Analysis
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Nutrition Bars Market –Key Segments
- Energy Bars
- Protein-rich Bars
- Meal Replacement Bars
- Low Carbohydrate Bars
- Double Layer
- Weight Management
- Sports & Fitness
- Functional Food
- Clear Wrappers
- Matte Wrappers
- Metallic Films
- Paper Wrappers
- Institutional Sales
- Modern Retail
- Specialty Stores
- Departmental Stores
- Online Retail
- North America
- Latin America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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