Market Statsville Group (MSG) publishes the new report on the "Energy Bar Market by Type Outlook (Protein Bar, Nutrition Bar, Cereal Bar, and Fiber Bar), by Nature (Organic and Conventional), by Distribution Channel (Convenience Stores, Specialty Stores, Hypermarkets & Supermarkets, and Online Sales Channel), by Region – Global Share and Forecast to 2027". The global energy bar market size is expected to grow from USD 645.0 million in 2020 to USD 935.8 million by 2027, at a CAGR of 6.4% during the forecast period. Energy bars are commonly available as a supplementary product in convenience stores alongside other food grocery products. As a result, the growing retail infrastructure has given energy bars the momentum to grow. The demand for flavored energy bars has grown rapidly and continues to grow at a fast pace. Preference for fusion and nut flavors has grown significantly in developed markets, increasing the demand for ethnic flavoring. The addition of caramel and exotic flavors to existing product lines remains one of the key strategies used by global manufacturers to capture consumers' attention in more mature markets such as the U.S. and Canada.
Browse 211 market data Tables and 63 Figures spread through 234 Pages and in-depth TOC on "Energy Bar Market Research Report 2021-2027."
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Global Energy Bar Market Segmentation
The overall energy bar market has been segmented into type, nature, distribution channel, and region.
- By Type Outlook (Protein Bar, Nutrition Bar, Cereal Bar, and Fiber Bar)
- By Nature (Organic and Conventional)
- By Distribution Channel (Convenience Stores, Hypermarkets & Supermarkets, Specialty Stores, and Online Sales Channel)
- By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
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Organic, by nature, is estimated to hold the largest market share during the forecast period
Based on nature, the global energy bar market is segmented into organic and conventional. The organic segment generated the highest revenue of 52.5% of the total global energy bar market in 2020, and it is expected to register a significant CAGR from 2021 to 2027. Organic energy bars are high-nutritional-value snacks or foods fortified with multiple vitamins and minerals intended to boost physical energy. According to organic certification bodies ' standards, these bars are processed using organic methods and are free of GMOs and artificial chemicals. The raw materials of organic energy bars are sourced from farms that do not use chemical fertilizers or pesticides.
Sports and athletic activities are becoming more popular among young people. The growing demand for healthy & organic snacks with high nutritional value and rising demand for sports nutrition are expected to drive the growth of the organic segment. Energy bars serve as meal replacements and quick snack foods for consumers who eventually lead hectic lives. Furthermore, these bars can be used to replace high-calorie foods, such as chocolate, cakes, and cookies and can aid in weight management. These factors are expected to drive the organic energy bar segment growth during the forecast period.
North America accounts for the largest market share in the energy bar market 2020
Based on the regions, the global energy bar market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, North America accounted for the highest market share of 36.0% in the global energy bar market and was anticipated to maintain its dominance throughout the forecast period. The countries covered in the North America energy bar market include the U.S., Canada, and Mexico. The growing demand for indulgence, meal replacement, functional food, and on-the-go snacking is driving the growth of the energy bar market in North America. The penetration of energy bars is higher among those aged 18-50 years than those aged 50 or older.
The demand for energy bars is being driven by an increase in gym-going people who want to stay healthy and fit. The increasing popularity of “clean label” and “free-from” products leads North America, particularly in the U.S. It is expected to play a significant role in the growth of the energy bar market in the coming years. Energy bars serve multiple functions and thus, appeal to a wide range of consumers, including athletes. Energy bars are becoming more popular among athletes in the U.S. over energy drinks as they do not contain caffeine.
This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the energy bar market. It also consists of leading companies such as Brighter Foods Ltd, General Mills Inc, McKee Foods Corporation, Cliff Bar & Company, NuGo Nutrition, Probar LLC, Premier Nutrition Inc, Kind LLC, Kellogg Company, and Quest Nutrition.
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