Protein Bar Market Size & Share to Surpass $6.0 Billion by 2028 | Vantage Market Research

WASHINGTON, Jan. 23, 2023 (GLOBE NEWSWIRE) — Global Protein Bar Market is valued at USD 4.3 Billion in 2021 and is projected to reach a value of USD 6.0 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 5.8% over the forecast period 2022-2028.

One of the most significant economic areas is theProtein Bar, and consistent expansion is projected going forward. Despite the industry’s turmoil, numerous things could affect its development or demise. This study assesses both the current trends and the anticipated future changes to provide a full insight of the sector. Additionally, it provides details on the significant industry players and their expansion strategies.

The report provides a thorough analysis of international producers and suppliers, as well as their current situation and future prospects. It also goes into detail about the global drivers of the demand for Protein Bar, including rising investment requirements, developing technology, and new laws.

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Market Overview

According to Vantage Market Research, some of the key factors anticipated accelerating the Protein Bar market growth over the forecast period. Due to the growing socioeconomic necessities, more health consciousness, and a lack of time to prepare nutrient-dense meals, the demand for processed and comfort foods is fast rising. As a result, the demand for Protein Bars increases significantly.

We forecast that the plant-based category in Protein Bar market sales will account for more than 30% of total sales by 2028. Plant-based Protein Bars will increase, mostly due to the rising vegan population. Furthermore, the portfolio will attract top businesses due to the high demand for natural ingredients, including seeds, nut butter, and fruit.

Market Dynamics

Breakfast on the Go is a Trend that Will Boost Growth Potentials.

The market share of Protein Bars is anticipated to increase due to the prevalence of sedentary and busy lifestyles. The rising desire for convenience foods has resulted in a huge increase in the popularity of nutrition bars. Additionally, the growing popularity of fitness among millennials and members of generation Z will encourage businesses to invest in Protein Bars. For instance, in September 2020, Maxim Nutrition introduced the Maxim Apple Cinnamon energy bar to provide athletes with a strong base for effective performance and premium nutrition. To capitalise on current market opportunities, major firms may invest in novel tastes.

Requirement for Carbohydrates, Easy Food and Rising Prevalence of Long-Term Diseases Drive the Market Growth

The prominence of busy customer behavior that leads to on-the-go food consumption has fueled the global market for nutritional bars. Additionally, shoppers who favor a well-balanced diet rich in nutrients are becoming more concerned about their health, which has increased product demand. In addition, a rise in health awareness programs highlighting the value of well-being and a nutritious diet has affected the world’s intake of Protein Bars.

Top Players in the Global Protein Bar Market

• 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.)

For Additional Information on Protein Bar Market Players and Detail List, Download a Report PDF Brochure

Top Trends in Global Protein Bar Market

• One trend that Vantage Market Research (VMR) expects to see in the Protein Bar industry is the creation of novel flavour and variant combinations. Being made of artificial sweeteners, dairy products, and gluten-free/genetically modified ingredients, the product symbolises the brand’s commitment to environmental and human health. As a result, producers are anticipated to benefit from the creation of new products that feature innovative protein sources and low sugar content.
• Another trend that VMR predicts will continue in the Protein Bar industry represents the rising tendency for fitness. The newly popular food category of the Protein Bar has been widely used as a dietary supplement. Because its main constituent, proteins, can help develop muscle, this simple ready-to-eat protein source is becoming more and more popular with organisations who are interested in fitness.  

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Recent Developments

• August 2022, an American manufacturer of healthy energy bars with organic ingredients, Clif Bar & Company, was acquired by Mondelez International, Inc. With leading brands like CLIF, CLIF Kid, and LUNA complementing the company’s refrigerated snacking business Perfect Snacks in the United States, and leading performance nutrition business Grenade in the United Kingdom, the acquisition is anticipated to increase Mondelez International’s global snack bar business to more than USD 1 billion.
• June 2022, Kellogg’s Special K launched a range of new protein snack bars. The products contain 6 grams of protein and 90 calories per bar. The products were initially available in two flavors including sweet berry vanilla and chocolatey brownie sundae.
• June 2021, RXBAR launched a plant-based protein bar. The all-new RXBAR protein bar is made with 10 grams of plant-based protein in place of RXBAR’s signature egg whites and is available on RXBAR.com and on shelves at several retailers including Target and Kroger.

Top Report Findings

• Based on the Source, most of the Protein Bar market’s revenue is controlled by the plant-based category. As more consumers choose to eat a plant-based diet to lead healthy lives, which promotes impulse buying behavior, the number of vegetarians is growing internationally.
• Based on Type, most of the Protein Bar market’s revenue is controlled by the sports nutritional bars category. The administration of certain nutrients, such as chemicals, mineral deposits, nutraceuticals, and aromatic substances made of proteins, lipids, and carbohydrates, is heavily emphasized in sports nutrition. Sports nutrition products have long been used by bodybuilders and athletes to enhance performance and encourage muscle growth.
• Based on the Distributional Channel, most of the Protein Bar market’s revenue is controlled by the online channel category. Unlike modern trade and specialty shop distribution channels, online retailers still occupy a relatively small portion of the Protein Bar market. But when smartphone prices decline, and 4G LTE infrastructure becomes more accessible, consumers should use online shopping portals because these economies have stronger Internet infrastructure.

Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Protein Bar Market Forecast Report (2022-2028).

Top 10 Players Generates More Than 45% of the Global Protein Bar Market Revenue

The report also found that the largest players in the Protein Bar market are technology providers such as 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). These companies are expected to benefit from increased demand for their products and services and growing investments in new products. Other major players 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.). As per latest report published by Vantage Market Research, top 10 companies are responsible for generating more than 45% revenue of the market.

Sports Nutrition Bar Category in Protein Bar Market to Generate Over 30% Revenue

Protein Bar are an expensive investment. Vantage Market Research has analyzed the market for Protein Bar to understand its current state and potential future growth factors. For better understanding, based on the type, the Protein Bar market is divided into sports nutrition bars, meal replacement bars and others.

During the forecast period, the market for Protein Bars is anticipated to experience the highest CAGR for the sports nutrition bar category. Items for sports nutrition have recently become very popular with leisure and lifestyle products consumers. The pattern indicates a substantial rise in the market’s consumer base.

On the other hand, the meal replacement bars category is anticipated to grow significantly over the forecast period. Snacking and those with lifestyle issues can both benefit from meal replacement bars. Meal bars are becoming more popular among gym goers as a fuel source and workout aid.

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Global Protein Bar Market Segmentation

By Source

• Plant-Based
• Animal-Based

By Type

• Sports Nutrition Bars
• Meal Replacement Bars
• Others

By Distribution Channel

• Mass Merchandisers
• Specialty Stores
• Convenience Stores
• Online Channels
• Other Channels

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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.

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