PUBLISHER: Orion Market Research | PRODUCT CODE: 1159296
PUBLISHER: Orion Market Research | PRODUCT CODE: 1159296
Global Protein Bars Market Size, Share & Trends Analysis Report by Type (Gluten-Free Protein Bars, Vegetarian Protein Bars, Sports Nutrition Bars And Others), By Source (Animal Protein and Plant Protein), and by Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialist Retail Stores, Online Stores, and Others) Forecast Period (2022-2028)
The global protein bars market is anticipated to grow at a substantial CAGR of around 6% during the forecast period. The delicious taste entered in the bar by the chocolate, peanut, butter among others is widely being majorly consumed by people, and also demand for it is growing. Moreover, the demand for ready-to-eat protein bars has favored increasing demand for these items and also ingredients variation in different snacks items attracts the consumer attraction are such factors that drive the growth of the market.
The global protein bars market is segmented based on the type, source, and distribution channel. Based on the type, the market is segmented into gluten-free protein bars, vegetarian protein bars, sports nutrition bars, and others. Based on the source, the market is segmented into animal-based protein and plant-based protein. Based on the distribution channel, the market is sub-segmented into supermarkets/hypermarkets, convenience stores, specialist retail stores, online stores, and others. Among type segments, the sports nutritional bars segment is dominating owing to the growing participation of sports enthusiasts that is further likely to increase the demand for protein bars.
Geographically market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America is dominating attributed to increasing fitness clubs, fitness enthusiasts, and athletes. Moreover, the population in the region is more concerned about healthy life, aware of the plant-based protein bars supplements benefits, such factors that are anticipated to the protein bar dominance in the region. Additionally, the presence of major players that are coupled with the large import value of the snacks food items in the region that has resulted in incremental consumption of snacks bars will increase the demand for protein bar market.
The major companies serving the global Protein Bars market include Clif Bar & Co., General Mills Inc., Glanbia Nutritional, GNC Holdings, LLC, Inc, Mondelez Global LLC, Kellogg Co., The Bountiful Co., Verb Energy Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2022, Kind launched a new flavor protein bar, which contains 12g of plant-based protein per 50g bar this is high in fiber, gluten-free, and contains heart-healthy fats. The hazelnut dark chocolate bar it will be sold from March in a range of retailers, including Nisa and Costcutter
Research Methodology
The market study of the global Protein Bars market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include:
The report provides an in-depth analysis of the market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers: