Nutrition Bar Market Size, Share, And Trends By Product (Protein Bar, Energy Bar), By Nature (Conventional, Organic), By Packaging (Wrapper, Boxes), By Distribution Channel (Online, Offline), And By Geography – Forecast From 2019 To 2024

Description

Nutrition bar market is projected to grow at a CAGR of 5.60% during the forecast period, reaching the total market size of US$7,414.185 million in 2024 from US$5,347.435 million in 2018. Nutrition Bar refers to protein or energy bars which have high protein content and include other nutrients as well. The changing lifestyle along with rapid urbanization is expected to be a key driver for the nutrition bars market. The low availability of time owing to a hectic work schedule is a reason for changing lifestyle and eating habits. In addition, the inclination towards sports along with the budding sports industry is anticipated to fuel the market for nutrition bars in the upcoming years. Moreover, the rising number of obesity cases along with the growing consumption of health supplement is estimated to push the market for nutrition bars further. The market has been segmented on the basis of type, nature, packaging, distribution channel and geography. In the type segment, protein bar segment is expected to hold a significant share in the market during the forecast period owing to the increasing awareness regarding protein needs of the body along with other benefits associated with protein. Geographically, Asia Pacific region is projected to grow at a substantial rate on account of the rapid urbanization along with rising disposable income in countries like India and China. Further, changing lifestyles and inclination towards fitness is also anticipated to be a contributing factor for the growth of nutrition bars in the Asia Pacific region.

DRIVERS

Rising health consciousness

Changing lifestyle and eating habits.

RESTRAINT

Presence of alternatives.

INDUSTRY UPDATE

In January 2018, The Nature’s Bounty Co. acquired The Best Bar Ever with an aim to expand its nutrition bars portfolio to its sports and nutrition products.

In April 2017, Cyto Sport Inc. launched new line of protein bars.

The major players profiled in the nutrition bar market include Abbott Nutrition, Hormel Foods Corporation, Quest Nutrition, Mars, General Mills Inc., Caveman Foods, Atkins Nutritional Inc., Kellogg NA Co., Gatorade (Pepsico).

Segmentation

The nutrition bar market has been analyzed through the following segments:

By Product

Protein Bar

Energy Bar

By Nature

Conventional

Organic

By Packaging

Wrapper

Boxes

By Distribution Channel

Online

Offline

By Geography

North America

USA

Canada

Mexico

South America

Brazil

Argentina

Others

Europe

Germany

France

United Kingdom

Spain

Others

Middle East and Africa

Saudi Arabia

Israel

Others

Asia Pacific

China

Japan

South Korea

India

Others