Protein bars are nutritional bars with high protein content. It is available in a wide variety in the market and is a healthy option as a meal substitute. Most protein bars are fortified with a range of vitamins and minerals which is driving the growth of the market. Protein bars are an effective way to reduce cravings and prevent constant snacking. They are available in different flavors such as chocolates, fruits, peanut butter, savory, spices, and others.
Protein bars are a healthy substitute for a proper meal for individuals who require quick energy. The high protein content in the product is driving the growth of the market. Increasing working population followed by a hectic lifestyle of consumers have provided the best opportunity for protein bars market.
Rising health-conscious population along with increasing disposable income is adding fuel to the market growth of protein bars. Moreover, protein bars are gaining popularity owing to growing trend of health and fitness. However, there is a large number of substitutes for the product available in the market which may hamper the market growth of protein bars.
Some of the key players profiled in the global protein bar market are Atkins Nutritionals, Inc. (U.S.), Clif Bar & Company. (U.S.), General Mills Inc. (U.S.), Kellogg Co. (U.S.), Premier Nutrition (U.S.), Lenny & Larry's Incorporated (U.S.), Mars Incorporated (U.S.), Quest Nutrition (U.S.), Caveman Foods LLC (U.S.), Abbott Nutrition Manufacturing Inc. (U.S.)
Key Findings:
Gluten-free protein bars are gaining acceptance from majority of the population Germany, Canada, Belgium, France, and Italy are the major exporters of protein bars Segments:
Protein bars market is segmented on the basis of type such as plant protein and animal protein. Among them, the plant protein segment is anticipated to gain substantial growth over the coming years due to increasing demand for gluten-free plant sources among the population suffering from celiac diseases.
On the basis of flavors, protein bars are segmented such as chocolates, fruits, peanut butter, savory, spices, and others. The chocolate segment is witnessed to be dominating among others. However, the fruits and peanut butter segments are expected to have a steady growth over the forecast period.
Based on the distribution channel, protein bars are segmented as store based and non-store based. Protein bars are, however, mainly sold through store based distribution channel among which grocery wholesalers and retail stores are the major contributors.
The global protein bar market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is anticipated to be dominating the protein bars market followed by Europe owing to the presence of key players in the U.S. followed by rising inclination towards portable convenience foods. Moreover, in Europe, there is a high inclination towards functional foods and nutritional products which is driving the growth of the market in this region.
Asia Pacific is projected to be the fastest growing region for protein bars in which China and Japan are the major contributors followed by India. Moreover, Australia is also witnessed to have a steady growth over the coming years. Owing to increasing trend of health and fitness, protein bars are estimated to grow rapidly over the rest of the world.
