PUBLISHER: The Business Research Company | PRODUCT CODE: 1428109
PUBLISHER: The Business Research Company | PRODUCT CODE: 1428109
Nutritional bars are supplements packed in a bar form, enriched with proteins, carbohydrates, fats, vitamins, and minerals. These bars serve various purposes such as meal replacements, energy boosters, and protein sources, catering to needs such as weight management, muscle building, and overall health.
The major categories of nutritional bars include protein bars, energy bars, meal replacement bars, and snack bars. Protein bars are designed to offer a substantial protein content and come in diverse flavors such as chocolate, fruit, peanut butter, and others. They're available in conventional and gluten-free varieties, distributed through supermarkets, specialty stores, online retail, among others, and cater to both adult and child consumers.
The nutritional bars market research report is one of a series of new reports from The Business Research Company that provides nutritional bars market statistics, including nutritional bars industry global market size, regional shares, competitors with a nutritional bars market share, detailed nutritional bars market segments, market trends and opportunities, and any further data you may need to thrive in the nutritional bars industry. This nutritional bar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The nutritional bars market size has grown strongly in recent years. It will grow from $6.79 billion in 2023 to $7.26 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The historical growth in the nutritional bar industry can be linked to several factors such as the surge in health and fitness trends, increased consciousness regarding healthy dietary habits, fast-paced lifestyles demanding convenient food options, effective marketing approaches, and the wide array of flavors and ingredients offered by these bars.
The nutritional bars market size is expected to see strong growth in the next few years. It will grow to $9.21 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The projected growth in the nutritional bar industry can be linked to upcoming trends such as the focus on customization and personalization, the expansion of e-commerce platforms, the increasing popularity of plant-based and clean label products, and the rise of functional ingredients with health claims. Additionally, the forecast period is expected to witness trends centered around enhancing texture and mouthfeel, embracing sustainable packaging approaches, and the development of nutritional bars tailored to specific lifestyles.
The nutritional bar market is poised for growth, driven by the escalating demand for healthy and nutritious food products. Healthy and nutritious food products are characterized by their provision of essential nutrients, promotion of overall health, and support for optimal body functioning. Nutritional bars, often utilized as a health-conscious food option, are typically crafted with whole, natural ingredients known for their positive impact on health. These bars offer a rich source of nutrients, high fiber content, and limited added sugars. Notably, in May 2022, the International Probiotics Association reported a global increase in probiotic consumption from $448 billion in 2019 to $476 billion in 2021. This upward trend underscores the growing demand for healthy and nutritious food products, substantiating the growth of the nutritional bar market.
The nutritional bar market is also witnessing growth driven by the increasing adoption of vegan diets. The adoption of vegan diets involves refraining from animal products, embracing a plant-based lifestyle, and is often motivated by ethical, environmental, or health considerations. Contributing to this dietary shift, the nutritional bar market offers convenient and plant-based alternatives, providing individuals with accessible and nutritious options that align with their vegan choices. In May 2022, reports from Sentient Media highlighted the global growth of the vegan food market, reaching $15.77 billion in 2021 from $14.44 billion in 2020. Plant-based food sales exhibited a growth rate three times faster than overall food sales in 2021, indicating a significant surge in demand for plant-based products. The increasing adoption of vegan diets stands out as a key driver for the growth of the nutritional bar market.
Product innovation emerges as a prominent trend driving the nutritional bar market, with major companies strategically focusing on the development of innovative offerings to maintain their market positions. An illustrative example is Nourish Organic Foods Pvt. Ltd., an India-based organic food product manufacturer. In June 2022, the company introduced its Nutrition Bars 2.0 with revamped packaging. These innovative nutritional bars are crafted with all-natural ingredients, serving as rich sources of protein, fiber, and vitamins. Notably, they are gluten-free, lactose-free, and vegan, offering a health-conscious snack option. The Nutrition Bars 2.0 are available in six flavors and feature a slimmer and taller shape for easy portability. With their convenient packaging, these bars are designed to fit into pockets, purses, and travel bags, catering to consumers seeking on-the-go nutritional options.
Major players in the nutritional bar market are strategically focusing on product launches, particularly in the energy or protein nutrition bar segment, to provide consumers with a natural energy boost. An energy or protein nutrition bar is a compact and convenient food product designed to deliver a concentrated source of energy, essential nutrients, and protein. For example, in September 2021, Sun Pharma Consumer Healthcare, a division of Sun Pharmaceutical Industries Limited based in India, introduced Revital Energy NXT and Revital Protein NXT. These nutrition bars, featuring natural ginseng, 16 vitamins & minerals, and triple blend protein, address diverse consumer needs for breakfast, snacking, and pre/post workouts. The strategic entry into the burgeoning nutrition bar market by Sun Pharma Consumer Healthcare capitalizes on the increasing focus on health-conscious choices, leverages the trusted Revital H brand, and taps into the convenience of e-commerce platforms to meet the evolving demands of consumers seeking on-the-go nutrition.
In August 2022, Mondelez International Inc., a prominent food company based in the United States, completed the acquisition of Clif Bar & Company for an undisclosed sum. With this strategic move, Mondelez International aims to broaden its range of nutritious snacks, reach new demographics, and leverage Clif Bar & Company's expertise in producing organic and natural products. Clif Bar & Company, a renowned US-based manufacturer, specializes in nutritional and protein bars, candies, sports drinks, and organic snacks.
Major companies operating in the nutritional bars market report are Mars Incorporated, Abbott Laboratories, Mondelez International Inc., Natural Balance Foods Ltd., General Mills Inc., Kellogg Company, Glanbia plc, Quaker Oats Company, Simply Good Foods Company, SunOpta Inc, Clif Bar & Company, Kind LLC, PowerBar, RX Kids, Quest Nutrition, Premier Nutrition Inc., Grenade, Pure Protein, Bobo's, Atkins Nutritionals Inc., The Nature's Bounty Co., Kashi Company, RXBAR, Larabar, NutreeLife, Perfect Bar LLC, Nature Valley, Thunderbird Real Food Bars, Oatmega, Zing Bars, ZonePerfect.
North America was the largest region in the nutritional bars market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nutritional bars market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the nutritional bars market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The nutritional bars market consists of sales of unisex nutritional bars, fiber bars, gluten-free bars, low-sugar bars, nut and seed bars, and vegan-based bars. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Nutritional Bars Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on nutritional bars market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for nutritional bars ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The nutritional bars market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.