Publication Month: Dec 2022 | Report Code: TIPRE00022477 | No. of Pages: 154 | Category: Food and Beverages | Status: Published
Nutritional bars are low in sugar and high in protein and omega-3 fatty acids with fewer additives. Owing to their high fiber and protein content, they are considered as healthier alternatives than other bars. Nutritional bars improve protein levels in body, help repair muscles, improve body performance, boost metabolism, and lower glucose and saturated fat levels before and after a workout. Nutritional bars consist of various product types such as protein bars and high-fiber bars. The growth of the nutritional bars market is attributed to the increasing awareness regarding the benefits of nutritional bars and the growing number of fitness and wellness centers across the world.
In 2021, North America held the largest share of the global nutritional bars market. However, Asia Pacific is estimated to register the highest CAGR during the forecast period. Emerging countries in Asia Pacific are witnessing a surge in health-conscious consumers, which will create demand for functional food products such as nutritional bars. The busy lifestyle of the growing urban middle-class population and the lack of nutritional diet of individuals are driving the market growth. Governments of various countries in the region have taken proactive measures to control the spread of novel coronavirus infection that causes COVID-19. During COVID-19 pandemic, the need for healthy food and beverage products increased across the region to improve immunity. The increasing urbanization, rising disposable incomes, and growing number of health-conscious consumers are boosting the demand for nutritional bars across the region.
|Market Size Value in||US$ 7,100.96 Million in 2022|
|Market Size Value by||US$ 9,838.38 Million by 2028|
|Growth rate||CAGR of 5.6% from 2022 to 2028|
|No. of Pages||154|
|No. of Tables||83|
|No. of Charts & Figures||81|
|Historical data available||Yes|
|Segments covered||Type, Category, and Distribution Channel|
|Free Sample Copy Available|
Before the COVID-19 outbreak, the nutritional bars market was driven by the rising demand for snacking options with high nutritional content that support digestive and immune health. Moreover, in 2021, various economies resumed operations as governments of various countries announced relaxation in the previously imposed restrictions, which boosted the global marketplace. Further, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap and other repercussions. Further, the COVID-19 pandemic had a long-term favorable impact on the nutritional bars market. Hence, the demand for nutritional bars is high because they help maintain the overall nutritional requirement of the human body.
Further, the COVID-19 pandemic had a long-term favorable impact on the nutritional bars market. Hence, the demand for nutritional bars is high because they help maintain the overall nutritional requirement of the human body. Consumers gravitated toward immunity-boosting and nutritious products due to the rising number of COVID-19 patients. Owing to the impacts of the COVID-19 pandemic, consumers have been increasingly attentive to their health and wellness. Furthermore, an increased demand for on-the-go snacking products with high nutritional content boosted the sales of nutritional bars. As consumers' focus increased on finding better options for improving immunity during the pandemic, the need for nutritional bars grew across the globe.
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In June 2022, Kellogg's Special K introduced protein snack bars that provide 6 grams of protein and 90 calories per bar. The products are available in two flavors Berry Vanilla and Brownie Sundae. The product costs US$ 4.29 for a five-count package. Companies are expanding their production capabilities to meet the rising demand for nutritional bars across the world. Such strategies are expected to fuel the nutritional bars market growth during the forecast period.
Based on category, the nutritional bars market is bifurcated into conventional and gluten-free. The conventional segment held a larger market share in 2021, whereas the gluten-free segment is expected to register a higher CAGR from 2022 to 2028. The demand for conventional nutritional bars is expected to decrease as consumers are becoming health-conscious and preferring healthy alternatives such as gluten-free nutritional bars. People allergic to gluten cannot consume conventional bars.
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Based on Distribution Channel, the nutritional bars market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. The supermarkets and hypermarket segment held the largest market share in 2021, whereas the online retail segment is projected to register the highest CAGR during the forecast period. Supermarkets and hypermarkets are large retail establishments that offer a wide range of products, such as groceries, nutritional products, and other household goods. Products from different brands are available at reasonable prices in these stores, which allows shoppers to find the right product quickly. Moreover, these stores offer attractive discounts, multiple payment options, and a pleasant customer experience. Supermarkets and hypermarkets focus on maximizing product sales to increase their profit.
The Simply Good Foods Co, Clif Bar & Co, General Mills Inc, The Kellogg Co, Rise Bar Inc, The Quaker Oats Co, Perfect Bar LLC, Mars Inc, Kind LLC, and Premier Nutrition Co LLC are a few major players operating in the nutritional bars market. These companies mainly focus on product innovation to expand their market size and follow emerging market trends.
The List of Companies - Nutritional Bars Market