PUBLISHER: Grand View Research | PRODUCT CODE: 1554221
PUBLISHER: Grand View Research | PRODUCT CODE: 1554221
The global protein bar market size is expected to reach USD 20.87 billion by 2030, growing at a CAGR of 5.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. With increasingly busy lifestyles and a shift toward on-the-go eating habits, consumers are gravitating toward snacks that offer both convenience and health benefits. Protein bars have become a popular choice for those looking to supplement their diet with essential protein, which plays a crucial role in muscle building, repair, and promoting satiety. To cater to diverse tastes and preferences, manufacturers are continuously innovating with new flavors and formats. Recent introductions include unique flavors like salted caramel, chocolate chip cookie dough, and birthday cake, as well as new formats that incorporate added fiber, vitamins, and minerals.
Protein bars have emerged as a convenient, ready-to-eat nutritional supplement, especially favored by fitness enthusiasts. Their high protein content makes them an ideal post-workout snack for gym-goers, athletes, and individuals engaged in physically demanding activities. The need for protein to maintain energy levels and enhance performance is driving the adoption of protein bars. As global participation in fitness activities rises, so does the demand for these products.
Furthermore, both large and small market players are focusing on product innovation to address the specific needs of athletes and active individuals. This drive for innovation is helping to expand the variety of protein bars available, catering to a broad spectrum of dietary requirements and preferences. For instance, in August 2023, Barebells Functional Foods, a Swedish company, launched a new flavor of soft protein bars in the U.S. - banana caramel. The bars feature a creamy banana-flavored core, a smooth caramel sauce, and a thick milk chocolate coating. Each bar contains 16 grams of protein and no added sugar.
Changes in lifestyle, longer commutes, and demanding work schedules have heightened the need for convenient and healthy meal options. As a result, the demand for convenience foods is rapidly growing. Healthy bars, in particular, have emerged as a practical solution, offering portability and helping to manage hunger while providing a quick energy boost. According to the 2018 Food & Health Survey by the International Food Information Council (IFIC) Foundation, around 10% of Americans indicated a preference for protein to boost energy levels, and more than 10% chose protein to address cardiovascular health concerns. With the increasing number of health clubs and rising health consciousness, the demand for protein-enriched bars is expected to continue to grow in the near future.