Plant Based Bar Market accounted for US$ 10.3 billion in 2020 and is estimated to be US$ 18.5 billion by 2030 and is anticipated to register a CAGR of 6.2%. According to the World Health Organization (WHO), at least 80% of heart diseases, type 2 diabetes and up to 40% cancers can be prevented if people modify their eating habits. This draws people to change their lifestyle and move towards plant based product. Vegan bars contains protein from plant source such as hemp, soybeans, peas and others. These bars feed the muscles with high-quality protein from vegetable and nuts source.
The report "Global Plant Based Bar Market, By Type (Vegetables, Nuts and Others), By Product Type (Snack Bar, Meal Replacement Bar, Energy Bar and Others), By Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online Stores and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030”
Key Highlights:
· In October 2018, PepsiCo, Inc. announced the acquisition of Health Warrior, Inc., a U.S. based Nutrition Company that produce plant-based products including nutrition bars.
· In August 2019, Simply Good Foods Co., a developer and marketer of nutritional foods and snacks under the Atkins and Simply Protein brands, agreed to acquire Quest Nutrition, L.L.C., El Segundo, Calif., for US $1 billion in cash, or approximately US $870 million, net of tax benefits, on a cash-free and debt-free basis.
Analyst View:
Plant based bar are more nutritious in healthy fats, proteins and essential vitamins and minerals which drives the market. Emerging fitness trends and market campaigns for vegan protein bars as substitute for meal replacement boost the plant based bar market.
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Key Market Insights from the report:
The Global Plant Based Bar Market accounted for US$ 10.3 billion in 2020 and is estimated to be US$ 18.5 billion by 2030 and is anticipated to register a CAGR of 6.2%. The Global Plant Based Bar Market is segmented based on the type, product type, distribution channel and region.
· By Type, the Global Plant Based Bar Market is segmented into Vegetables, Nuts and Others.
· By Product Type, the market is segmented in Snack Bar, Meal Replacement Bar, Energy Bar and Others.
· By Distribution Channel, the Global Plant Based Bar Market is segmented into Supermarkets & Hypermarkets, Specialty Stores, Online Stores and Others.
· By region, the Global Plant Based Bar Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape:
The key players operating in the Global Plant Based Bar Market include Simply Protein, BHU Foods, PROBAR LLC, NutGo Nutrition, Gomacro, Garden of Life, Raw Rev and Risebar and Health Warrior.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
