Asia-Pacific Energy Bar Market - Growth, Trends, and Forecast (2019 - 2024)

Market Overview

Asia-Pacific Energy Bar Market is witnessing to grow at a CAGR of 5.5% during the forecast period (2019-2024).

• Increased demand for health & wellness snacking, increased demand for processed food, meal replacement, rising per capita income are various factors fueled the Energy Bar market growth.
• Japan and Australia are the largest markets for energy bar market with combined sales holding more than 80% of the APAC sales. Energy bar market in other countries is at a nascent stage with India recorded the fastest growth rate.
• The Asia-Pacific Energy Bar market is competitive with a large number of existing multinational players. Innovative product launch and clean label ingredients are the various strategies adopted by these players. Private label brands provide tough competition to the existing players with their flavored product offerings.

Scope of the Report

The scope of Asia-Pacific Energy Bar Market is segmented by distributional channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty stores, Online Retail stores, and other distribution channels) and by Geography.

Key Market Trends

Australia Dominating the Energy Bar Market

There is a rising trend for everyday sports nutrition products with more consumers preferring fitness over fast food. The Sport nutrition products have begun to see the smooth status in terms of offering to the general customer with more energy bar manufacturers targeting athletes and gym enthusiasts. The high demand for energy bars is aided by the trend for protein requirement from sports athletes. Consumers preference moving towards natural and Organic bars is boosting the sales of energy bars in the country. Keeping in line with the consumer interest, companies like Coconut magic is launching energy bars which are gluten-free, paleo-friendly, sugar-free, dairy- and soy-free with 100% wholefood, superfood, and raw food ingredients.

Increased In Demand of Energy Bars From Sports Industry

Energy bars serve multi-purpose and thus appeal to a broad range of consumers including athletes and fitness enthusiasts. The versatile bars come in various flavors which further drives the sales of energy bars in this region. Key players are introducing products which are targeted towards athletes, which are free from low-sugar energy bars. For instance, Coconut magic company launches energy bar products which are gluten-free, paleo-friendly, sugar-free, dairy- and soy-free with 100% wholefood, superfood, and raw food ingredients. Further increase in the number of sports participants in this region is likely to demand energy bars during the forecast period.

Competitive Landscape

The Asia-Pacific Energy Bar market is competitive with a large number of existing multinational players. Major players include Clif Bar & Company, Coconut Magic, General Mills, Inc., Kellogg NA Co, PROBAR LLC, PowerBar Inc, Abbott Nutrition Manufacturing Inc. and NuGo Nutrition.

Feb 2018 - Coconut magic company launches energy bar products which are gluten-free, paleo-friendly, sugar-free, dairy- and soy-free with 100% wholefood, superfood, and raw food ingredients.


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