The nutritional bars market size is expected to grow from US$ 7,100.96 million in 2022 to US$ 9,838.38 million by 2028; it is estimated to grow at a CAGR of 5.6% from 2022 to 2028.
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.
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Nutritional Bars Market: Strategic Insights
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 Forecast Period 2022-2028 Base Year 2022
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Nutritional Bars Market: Strategic Insights
| 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 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Impact of COVID-19 Pandemic on Nutritional Bars Market
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.
Nutritional Bars Market Breakdown, by Region
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Strategic Developments by Key Players Favor Nutritional Bars Market Growth
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.
Category Insights
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.
Nutritional Bars Market, by Category – 2022 and 2028
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Distribution Channel Insights
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.
Report Spotlights
- Progressive industry trends in the nutritional bars market to help companies develop effective long-term strategies
- Business growth strategies adopted by the nutritional bars market players in the developed and developing countries
- Quantitative analysis of the market from 2022 to 2028
- Estimation of global demand for nutritional bars
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers in the nutritional bars market
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the nutritional bars market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
- Size of the nutritional bars market at various nodes
- Detailed overview and segmentation of the market and growth dynamics of the nutritional bars industry
- Size of the nutritional bars market in various regions with promising growth opportunities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Category, and Distribution Channel
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Based on the category, gluten-free segment is projected to grow at the fastest CAGR over the forecast period. Rising health concerns among consumers and increasing number of product launches has surged the growth of gluten-free nutritional bars segment.
Over the past few years, people have become more concerned about what they eat and the nutritional profile of the products they eat. Nutritional bars manufacturers are engaging in various strategic development initiatives to sustain in the market by offering innovative products to customers. For example, in 2021, LUNA, the women-centric brand by Clif Bar & Company, launched a new line of bars containing 2.5 grams of prebiotics. These are the first bars with prebiotics. Studies show that 5 grams or more of fiber-containing prebiotics can propel the development of beneficial bacteria in the gut, supporting digestive health. Such product launches attract consumers to choose from a wide range of nutritional bars, which is eventually bolstering the growth of the nutritional bars market.
Based on type, protein bars segment mainly has the largest revenue share. The growth of the segment is attributed to growing veganism trend among consumers and increasing popularity and consumption of plant-based protein bars.
North America accounted for the largest share of the global nutritional bars market. North America is one of the most significant regions for the nutritional bars market owing to the rising preference for on-the-go snacking, meal replacement, functional food, and indulgence. In addition, the rising vegan population and veganism are boosting the demand for plant-based nutritional bars. Thus, leading manufacturers are launching plant-based nutritional bars to cater to consumers’ demands.
The major players operating in the global nutritional bars market are 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.
Nutritional bars manufacturers are increasingly launching products with functional claims and are communicating the health benefits associated with the consumption of the bars. This allows them to expand their customer base and increase their profits. The successful communication of functional claims is the main concern for manufacturers. Recent reports from scientific literature confirm that consumers are genuinely interested in health-related claims, but interest seems to vary depending on the type of food products. Too much information and difficulty interpreting different health claims have been noted as factors that can negatively influence consumers while purchasing nutritional bars. Therefore, including functional claims on labels is likely to provide significant growth opportunities to the manufacturers of nutritional bars in the coming years.
The List of Companies - Nutritional Bars Market
- 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
- Premier Nutrition Co LLC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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