Nutrition Bars Market: Introduction
A latest study of TMR (Transparency Market Research) on the nutrition bars market comprisesglobal industry analysis, along with opportunity assessment for 2020-2030. Thecomplete revenue generated from the global nutrition bars market is expected tostand at over US$ 1.2 Bn in 2020 that is estimated to expandat a CAGR of 4%, to cross US$ 1.8 Bn by 2030.
Improvement in Sensory Quality of Nutrition Bars toSupport Sales
The common perception that healthy food products comes at the cost oftaste and flavor has been blurred out across the globe, as key players haveimproved their product portfolio to a point that taste is not a negative issuefor nutrition bars. The improved quality of ingredients as well as the launchof novel processing technology have shaped the availability of nutrition barsin attractive compositions and flavors; some of them are only exclusive to barofferings. This is anticipated to drive the global nutrition bars market duringthe forecast period. Moreover, some key manufacturers of confectionery productshave transformed their product lines into functional products by launching highprotein ingredient-based products to increase per unit servings of protein toentice newer customers while holding the older ones.
In 2016, Mars Inc. introduced a high protein version of Mars andSnickers bars. In 2017, it has added a high-protein version of its Bounty barto the range, targeting the nutrition bars market, and making a high proteinclaim such as the 51 g, 192 calorie barcontains 19 g of proteins.
Organic Functional Bar Offerings to Tap NewConsumers
The organic functional bar offerings in Europe region are expected toexpand customer base of that who strictly follow organic-based food andbeverage diet. This also increases consumer loyalty. This can be attributed tothe recent trend of major players investing heavily in procuring organic-basedingredients. Furthermore, the segment is portrayed as premium, which helpsmanufacturers fragment out their offerings and tap premium users, and gain alarger profit margin in the nutrition bars market.
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