Energy Bar Market 2022-2028

Global Energy Bar Market Size, Share & Trends Analysis Report by Nature (Organic and Conventional), by Type (Protein Bar, Endurance Bar, Fiber Bar, Carbohydrate Bar, and Cereal Bar), and by Distribution Channel (Online Retail Channel and Offline Retail Channel) Forecast (2022-2028)

The global energy bar market is anticipated to grow at a substantial CAGR of 5.1% during the forecast period. Energy bars are food supplement bars that provide energy, nutrition, and other food benefits to the body. They contain fats, carbohydrates and proteins which provide immediate energy and can be used as a meal replacement. Rapid shift in consumer preference towards convenient and healthy on-the-go snacking is the primarily attributing in driving the energy bar market growth. On the go snack products are increasingly becoming popular among working class people and teenagers due to their hectic lifestyle. On the go snacking offers high energy content in small packaging which provides ease of consumption to consumers. The convenience of storage, quick usage, and easy providing for nutrition and energy requirements, energy bars is becoming an ideal solution for adults who require immediate results. Therefore, the demand for energy bars is increasing as a result of the associated convenience and a well-balanced diet in a small package. This increased demand of energy bar is inclining manufacturers in producing products rich in high protein and fiber. For instance, in 2020, Kind Healthy Snacks announced its plan to enter the energy category with the release of Kind Energy. Kind Energy is a new line of bars that provide sustained energy from whole grains. Available in dark chocolate peanut butter, chocolate chunk, and peanut butter flavors, the bars contain 230 to 250 calories, 10 grams of protein, 5 grams of fiber and 13 grams of sugar each.

The global energy bar market is segmented based on the nature, type, and distribution channel. Based on the nature, the market is segmented into organic and conventional. Based on the type, the market is sub-segmented into the protein bar, endurance bar, fiber bar, carbohydrate bar, and cereal bar. On the basis of distribution channel, the market is categorized into online retail channel, offline retail channel. The above-mentioned segments can be customized as per the requirements. On the basis of distribution channel, the online retail channel is anticipated to hold a prominent share. The increasing penetration of mobile phones especially among young population is causing increase in sales of packaged nutritional foods through online channel. Company-owned websites and e-commerce channels provide easy access of different models to consumers across the globe. Online retail channels even offer a price comparison option and product reviews which is further adding to its growth. Manufacturers are increasing their offering with a wide range of products through online platform, which will further boosting the growth of the market through online channel. For instance, in 2021, Sun Pharma Consumer Healthcare, announced its foray into the nutrition bar segment in India with the launch of Revital NXT. The company claims that the nutrition bar comes with the goodness of Natural Ginseng, 16 vitamins & minerals and triple blend protein. The nutrition bar has been launched on Amazon and it will also be made accessible on other e-commerce platforms.

Geographically the global energy bar market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. Asia-Pacific region is estimated to experience highest growth in energy bar market among other regions. The growth in this region is driving due to changing consumer preferences towards healthy snacking along with increasing product launches. The changing preferences of people in countries like India towards in-home consumption of packaged foods during COVID-19 has fueled consumer demand for energy bar in this region. Continuous product launches by key players in this region is which is further driving the industry's growth. For instance, in 2020, Kellogg Company launched the K Energy bars to enter In-between meal category. The company launched K Energy bars with protein as nutritional and convenient option to fulfill in-between meal hunger need of people.

The major companies serving the global Energy Bar market include Brighter Foods, Clif Bar & Co., General Mills Inc., Sproutlife Foods Private Ltd., 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 2020, Arla Foods Ingredients' launched Lacprodan SoftBar. Arla Foods Ingredients Application & Technology Science Centre was able to formulate the Lacprodan SoftBar having up to 37 percent protein content, maintaining a soft texture when mixed with creamy peanut butter. The company claims the protein bar to have high protein and fiber as well as a long shelf-life.

Research Methodology

The market study of the global energy bar 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 breakdown the market into various segments, derive 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 as possible, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of 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

1. Global Energy Bar Market Research and Analysis by Nature.

2. Global Energy Bar Market Research and Analysis by Type.

3. Global Energy Bar Market Research and Analysis by Distribution Channel.

The Report Covers:

• Comprehensive Research Methodology of the global energy bar market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global energy bar market.
• Insights about market determinants that are stimulating the global energy bar market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.