Nutrition Bar Market is projected to grow at a CAGR of 5.60% during the forecast period, reaching a 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 that 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 supplements 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, the protein bar segment is expected to hold a significant share in the market during the forecast period owing to the increasing awareness regarding the protein needs of the body along with other benefits associated with protein. Geographically, the 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 toward fitness are also anticipated to be a contributing factor to 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 a 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:
Frequently Asked Questions (FAQs)
Q1. What will be the nutrition bar market size by 2024?
A1. The global nutrition bar market is projected to reach a total market size of US$7,414.185 million by 2024.
Q2. What are the growth prospects for the nutrition bar market?
A2. The nutrition bar market is projected to grow at a CAGR of 5.60% during the forecast period.
Q3. What is the size of the global nutrition bar market?
A3. Nutrition Bar Market was valued at US$5,347.435 million in 2018.
Q4. What factors are anticipated to drive the nutrition bar market growth?
A4. The changing lifestyle along with rapid urbanization is expected to be a key driver for the nutrition bars market.
Q5. Which region holds the largest market share in the nutrition bar market?
A5. Geographically, the Asia Pacific region is projected to hold a significant share in the nutrition bar market on account of the rapid urbanization along with rising disposable income in countries like India and China.
Abbott Nutrition
Hormel Foods Corporation
Quest Nutrition
Mars
General Mills Inc.
Caveman Foods
Atkins Nutritional Inc.
Kellogg NA Co.
Gatorade (PepsiCo)
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