The global energy bar market was valued at $645.0 million in 2020, and is estimated to reach $1,010.9 million by 2028, registering a CAGR of 6.4% from 2021 to 2028.
Energy bars are high in energy as they contain ingredients such as granola, oats, nuts, and seeds. These bars are recommended for providing an instant energy boost during short workout sessions such as running or cycling. Since there is no added sugar in energy bars, they are suitable for everyone. Energy bars are regarded as a convenient on-the-go snack that provides an instant boost of energy.
The growing popularity of energy bars among athletes and young adults is an emerging driver that is expected to boost market growth during the forecast period. Athletes require healthy snacking to perform well and they must eat a meal at least once a day. Fiber-rich energy bars aid in appetite suppression, digestive health improvement, and weight management. As a result, there is an increase in demand for these products among athletes.
COVID-19 has also created opportunities for many private players to enter the market to meet the increased demand. In addition, as snacks are a quick and convenient source of nutrition and energy, the demand for innovative snack products, such as energy bars, is consistently high in developed countries. Furthermore, COVID-19 has resulted in a significant shift in consumer behavior as customers in developing countries are less loyal to brand and are more willing to try new brands in a low-supply environment. As a result, online distributors are witnessing an increase in interest as home-bound consumers look for retail alternatives.
Professional athletes, who require a balanced diet of vitamins, carbohydrates, minerals, dietary protein, and dietary fat, are increasingly consuming energy bars. Athletes' growing demand for multifunctional and better-tasting food supplements is driving the sales of sports energy bars. As a result, the growing demand for sports nutrition is expected to drive the growth of the energy bar market.
Attributed to factors, such as the growing millennial population, rising disposable income, and increasing urban consumers, the global energy bar market is expected to witness increased popularity of online retailing. Fitness enthusiasts who want convenience while purchasing nutrition foods impose a strong demand for energy bars through online platforms.
The tough competition from energy bar competitors is a constraint for the market. Other constraints include lack of taste and high sugar content in many energy bars, which force consumers to reconsider energy bars as a healthy food product.
Manufacturers in the global energy bar market are now focusing on smart labeling in addition to introducing new and appealing flavors and tastes. These labels mention added or fortified functional ingredients found in energy bars to mask the presence of high sugar or calorie levels. To eliminate the general perception of various health risks associated with the consumption of confectionery, manufacturers added functional ingredients to their final products of energy bars to regain their customer base and target new consumers in the growing energy bar market.
The global energy bar market is segmented on the basis of type, nature, distribution channel, and region. On the basis of type, the market is categorized into protein bar, nutrition bar, cereal bar, and fiber bar. As per nature, it is divided into organic and conventional. According to distribution channel, the energy bar market is fragmented into hypermarkets & supermarkets, convenience stores, specialty stores, and online sales channel. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, the Netherlands, Germany, Turkey, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, the UAE, and the rest of LAMEA).
The major players operating in the global energy bar market are Brighter Foods Ltd, Cliff Bar & Company, General Mills Inc, Kind LLC, McKee Foods Corporation, NuGo Nutrition, Premier Nutrition Inc, Probar LLC, Quest Nutrition, and Kellogg Company.
Energy bars are high in energy as they contain ingredients such as granola, oats, nuts, and seeds. These bars are recommended for providing an instant energy boost during short workout sessions such as running or cycling. Since there is no added sugar in energy bars, they are suitable for everyone. Energy bars are regarded as a convenient on-the-go snack that provides an instant boost of energy.
The growing popularity of energy bars among athletes and young adults is an emerging driver that is expected to boost market growth during the forecast period. Athletes require healthy snacking to perform well and they must eat a meal at least once a day. Fiber-rich energy bars aid in appetite suppression, digestive health improvement, and weight management. As a result, there is an increase in demand for these products among athletes.
COVID-19 has also created opportunities for many private players to enter the market to meet the increased demand. In addition, as snacks are a quick and convenient source of nutrition and energy, the demand for innovative snack products, such as energy bars, is consistently high in developed countries. Furthermore, COVID-19 has resulted in a significant shift in consumer behavior as customers in developing countries are less loyal to brand and are more willing to try new brands in a low-supply environment. As a result, online distributors are witnessing an increase in interest as home-bound consumers look for retail alternatives.
Professional athletes, who require a balanced diet of vitamins, carbohydrates, minerals, dietary protein, and dietary fat, are increasingly consuming energy bars. Athletes' growing demand for multifunctional and better-tasting food supplements is driving the sales of sports energy bars. As a result, the growing demand for sports nutrition is expected to drive the growth of the energy bar market.
Attributed to factors, such as the growing millennial population, rising disposable income, and increasing urban consumers, the global energy bar market is expected to witness increased popularity of online retailing. Fitness enthusiasts who want convenience while purchasing nutrition foods impose a strong demand for energy bars through online platforms.
The tough competition from energy bar competitors is a constraint for the market. Other constraints include lack of taste and high sugar content in many energy bars, which force consumers to reconsider energy bars as a healthy food product.
Manufacturers in the global energy bar market are now focusing on smart labeling in addition to introducing new and appealing flavors and tastes. These labels mention added or fortified functional ingredients found in energy bars to mask the presence of high sugar or calorie levels. To eliminate the general perception of various health risks associated with the consumption of confectionery, manufacturers added functional ingredients to their final products of energy bars to regain their customer base and target new consumers in the growing energy bar market.
The global energy bar market is segmented on the basis of type, nature, distribution channel, and region. On the basis of type, the market is categorized into protein bar, nutrition bar, cereal bar, and fiber bar. As per nature, it is divided into organic and conventional. According to distribution channel, the energy bar market is fragmented into hypermarkets & supermarkets, convenience stores, specialty stores, and online sales channel. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, the Netherlands, Germany, Turkey, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, the UAE, and the rest of LAMEA).
The major players operating in the global energy bar market are Brighter Foods Ltd, Cliff Bar & Company, General Mills Inc, Kind LLC, McKee Foods Corporation, NuGo Nutrition, Premier Nutrition Inc, Probar LLC, Quest Nutrition, and Kellogg Company.
Key benefits for stakeholders
- This report provides a quantitative analysis of current trends, estimations, and dynamics of the global energy bar market from 2021 to 2028 to identify the prevailing market opportunities.
- Porter’s five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry. The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
- The report includes analyses of the regional as well as global market, key players, market segments, application areas, and growth strategies.
KEY MARKET SEGMENTS
By Type
- Protein Bar
- Nutrition Bar
- Cereal Bar
- Fiber Bar
By Nature
- Organic
- Conventional
By Distribution Channel
- Hypermarkets & Supermarkets
- Convenience Stores
- Specialty Stores
- Online Sales Channel
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Netherlands
- Germany
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- UAE
- Rest of LAMEA
Frequently Asked Questions about the Global Energy Bar Market
What is the estimated value of the Global Energy Bar Market?
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| Report Attribute | Details |
|---|---|
| No. of Pages | 232 |
| Published | June 2021 |
| Forecast Period | 2020 - 2028 |
| Estimated Market Value ( USD | $ 645 million |
| Forecasted Market Value ( USD | $ 1010.9 million |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ENERGY BAR MARKET, BY TYPE
CHAPTER 5: ENERGY BAR MARKET, BY NATURE
CHAPTER 6: ENERGY BAR MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: ENERGY BAR MARKET, BY REGION
CHAPTER 8: COMPETITION LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Brighter Foods Ltd
- Cliff Bar & Company
- General Mills Inc
- Kind LLC
- McKee Foods Corporation
- NuGo Nutrition
- Premier Nutrition Inc
- Probar LLC
- Quest Nutrition
- Kellogg Company
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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