Protein Bar Market Size to Hit Around USD 7.66 Billion By 2030 with a Registered CAGR: 6.15%
According to the research report, the global protein bar market was valued at USD 4.55 billion in 2021 and is expected to reach USD 7.66 billion by 2030, to grow at a CAGR of 6.15% during the forecast period.
The Protein Bar Market is a rapidly growing segment of the health and wellness industry. Protein bars are a convenient and portable snack that provides a high protein content, making them a popular choice for athletes, fitness enthusiasts, and health-conscious individuals.
The market for protein bars is driven by a growing interest in healthy snacking, a rising demand for on-the-go meal options, and an increasing awareness of the importance of protein in maintaining a healthy diet. The market is also fueled by the growing trend of fitness and active lifestyles, as protein bars are often marketed as a pre- or post-workout snack.
The rise in the number of customers who are health-conscious, the rise in the knowledge of the advantages of nutrition bars, the entry of new market participants, and the expansion of the digital marketing trend are the main factors driving market growth.
Additionally, the sale of nutrition bars worldwide is projected to experience a consistent rise in the future years as more and more sports figures and social media influencers continue to endorse them. During the projected period, this is anticipated to drive the market for nutrition bars.
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Dates, dried fruit, nuts, seeds, and whole grains like quinoa and oats are the main ingredients of protein bars, which are nutritional bars. It is a good source of protein, carbs, lipids, vitamins, minerals, and other necessary nutrients. Its frequent use has a number of health advantages, including increasing energy, promoting weight control, strengthening bones and muscles, and lowering blood sugar levels.
According to the WHO, people can reduce their risk of developing heart disease, stroke, diabetes, and cancer by changing their eating habits, exercising more, and quitting smoking. They can also prevent up to 40% of instances of cancer. Such statements from the most influential institutions motivate people to alter their routines. As a result, more individuals are engaging in regular exercise.
The use of vegan protein bars is rising as a result of this. For instance, Nestle introduced a pea energy bar in 2020 as part of a new line of YES snack bars. This snack bar is made out of almonds and peas and has 10g of protein. These snacks come in various flavors, including Cashew, Blueberry, and Dark Chocolate and Almond, Peanut, and Double Dark Chocolate.
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Growing usage of sports beverages as refreshment drinks, as a new marketing trend, and products offering sustainable energy advantages, and constantly shifting flavor trends. During the COVID-19 lockdown, more snacks, bars, and other quick meals were available, supporting the market’s demand. Customers were compelled to boost their nutritional intake and eat safer, healthier meals as a result of the uncertain scenario across the world as their interest in products that promote the general maintenance of health and wellness increased. The demand for energy bars increased as more people started working from home or spent more time at home.
Protein Bar Market Report Highlights
- Plant-based protein bars are anticipated to rule the industry in 2021. Demand for the product, which delivers better results than other types of bars, is driven up by the rising number of health and fitness club members who are obsessed with maintaining their physical health.
- Sports nutrition bars are anticipated to dominate the market in 2021. Proteins are anticipated to grow in popularity as a component of a healthy diet due to their many practical benefits, including better nutritional content, immune system support, and weight control.
- North America dominates the global market growth owing to the rise in fitness enthusiasts and the number of gyms, fitness training facilities, and health clubs in North America.
- The global players with a global presence include General Mills, Simply Good Foods, Caveman Foods LLC, Kellogg Company and others.
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