PUBLISHER: Allied Market Research | PRODUCT CODE: 1414753
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414753
According to a new report published by Allied Market Research, titled, "Energy Bar Market," The energy bar market was valued at $696.30 million in 2022, and is estimated to reach $1.3 billion by 2032, growing at a CAGR of 6.3% from 2023 to 2032.
Energy bars are made with cereals, vitamins, and flavorings that tend to provide instant energy. They can be advertised as functional foods as they typically provide extra protein, carbs, dietary fiber, and other nutrients. Energy bars are increasingly being consumed to make up for various nutrient inadequacies brought on by inadequate intake of nourishing foods. Over time, energy bars have started to replace meals in some regions across the globe. The demand for energy bars is therefore anticipated to increase during the forecast period. Furthermore, the consumption of energy bars among athletes, sportsmen, and women along with the growth in number of paid collaborations with social media influencers is predicted to improve the overall sales of energy bars globally.
One of the key factors driving innovation in the food & beverages industry is the rapid evolution of consumer preferences. The current market trends indicate that the demand for energy bars is expected to grow at an impressive rate in the coming years, owing to the steady rise in number of health-conscious people around the globe as well as growth in awareness about the benefits of energy bars. Attributed to the fast-paced lifestyle, particularly in urban areas around the globe, an increasing number of consumers are turning toward on-the-go products to meet their nutritional needs. As a result, energy bars have become increasingly popular in recent years.
Energy bars that are high in fiber help with weight management, hunger suppression, and improved digestive health. Athletes are becoming more interested in these products as a result.
The global energy bar market is segmented on the basis of type, nature, distribution channel, and region. Depending on type, the market is categorized into protein bar, nutrition bar, cereal bar, and fiber bar. As per nature, it is divided into organic and conventional. According to distribution channel, the energy bar market is fragmented into e-commerce and offline channel. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, the Netherlands, Germany, Turkey, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, the UAE, and rest of LAMEA).
The major players operating in the global energy bar market are Brighter Foods Ltd, Cliff Bar & Company, General Mills Inc, Kind LLC, McKee Foods Corporation, NuGo Nutrition, Premier Nutrition Inc, Probar LLC, Quest Nutrition, and Kellogg Company.
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