Nutrition bar Market - Forecasts from 2019 to 2024

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.

Restraints

• 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