PUBLISHER: Mordor Intelligence | PRODUCT CODE: 661024
PUBLISHER: Mordor Intelligence | PRODUCT CODE: 661024
Asia-Pacific Energy Bar Market is witnessing to grow at a CAGR of 5.5% during the forecast period (2020-2025).
There is a rising trend for everyday sports nutrition products with more consumers preferring fitness over fast food. The Sport nutrition products have begun to see the smooth status in terms of offering to the general customer with more energy bar manufacturers targeting athletes and gym enthusiasts. The high demand for energy bars is aided by the trend for protein requirement from sports athletes. Consumers preference moving towards natural and Organic bars is boosting the sales of energy bars in the country. Keeping in line with the consumer interest, companies like Coconut magic is launching energy bars which are gluten-free, paleo-friendly, sugar-free, dairy- and soy-free with 100% wholefood, superfood, and raw food ingredients.
Energy bars serve multi-purpose and thus appeal to a broad range of consumers including athletes and fitness enthusiasts. The versatile bars come in various flavors which further drives the sales of energy bars in this region. Key players are introducing products which are targeted towards athletes, which are free from low-sugar energy bars. For instance, Coconut magic company launches energy bar products which are gluten-free, paleo-friendly, sugar-free, dairy- and soy-free with 100% wholefood, superfood, and raw food ingredients. Further increase in the number of sports participants in this region is likely to demand energy bars during the forecast period.
The Asia-Pacific Energy Bar market is competitive with a large number of existing multinational players. The major players include Clif Bar & Company, Coconut Magic, General Mills, Inc., Kellogg NA Co, PROBAR LLC, among others. Companies are adopting different strategies such as new product development, mergers and acquisitions to cater to the demands of consumers. For Instance, in Feb 2018, Coconut magic company launches energy bar products which are gluten-free, paleo-friendly, sugar-free, dairy- and soy-free with 100% wholefood, superfood, and raw food ingredients.