Energy Bar Market Latest Industry Trends, Size, Share, Growth Rate 2024-2032

Energy Bar Market Valuation – 2024-2031

The demand for on-the-go nutrition and the growing popularity of health-conscious eating, especially among athletes and millennials, are driving the energy bar market. Energy bars are a go-to product for people looking for quick, healthy snacks because of this market’s cutting-edge product choices, which include plant-based and high-protein options that satisfy a variety of dietary requirements and lifestyles. According to the analyst from Market Research, the energy bar market is estimated to reach a valuation of USD 1131.31 Million in 2031 over the forecast subjugating around USD 721.69 Million in 2024.

The growing need for quick and wholesome food options among time-pressed customers is the main driver of the energy bar market. It enables the market to grow at a CAGR of 5.78% from 2024 to 2031.

Energy Bar Market: Definition/ Overview

An energy bar is a portable, nutrient-dense food in the shape of a compact bar that contains components meant to deliver a short burst of energy, particularly for active people before, during, or after exercise. These bars are created from a variety of high-energy foods such as cereals, nuts, seeds, and dried fruits, and are occasionally added with protein, vitamins, and minerals. Energy bars are popular among athletes, fitness enthusiasts, and those who live active lifestyles and need a reliable source of sustained energy to fuel their activities. They are also utilized as a healthy substitute for regular snacks or as a meal replacement for people looking for a nutritious on-the-go option.

What are the Key Factors Driving the Growth of the Energy Bar Market?

Consumers are turning to healthier snack options like energy bars as they become more cognizant of their health and nutrition. According to the International Food Information Council (IFIC) Foundation’s 2020 Food and Health Survey, 54% of all consumers, including 63% of those over the age of 50, are more concerned with the healthfulness of their food and beverage choices in 2020 than they were in 2010. This trend is fueling the expansion of the energy bar industry as consumers seek out handy, nutrient-dense alternatives.

Increase in participation in sports and fitness activities is driving up demand for energy bars as rapid, portable sources of nutrition. According to the Sports & Fitness Industry Association (SFIA), 64.2% of Americans aged 6 and up took part in at least one fitness activity in 2019, up from 63.8% the previous year. This growing fitness trend is fueling the demand for energy bars among athletes and fitness enthusiasts.

Furthermore, the development of Internet retail and the expansion of distribution channels have made energy bars more accessible to customers. According to the United States Census Bureau, e-commerce sales made up 14.0% of total retail sales in 2020, up from 11.0% in 2019. This huge increase in online purchasing has made it easier for consumers to purchase energy bars, resulting in market growth. In addition, manufacturers are developing novel tastes, ingredients, and formulas to meet a wide range of consumer preferences and nutritional demands.

What are the Challenges Influencing the Growth of the Energy Bar Market?

Traditional snacks, protein bars, granola bars, and other convenient food options are fierce competitors to energy bars. Consumers have a wide range of options, limiting the growth and market share of energy bars. Manufacturers are constantly experimenting and differentiating their products to stand out in this competitive environment.

Some consumers are concerned about the nutritional value, artificial components, and sugar content of energy bars. These health-related risks decrease the attraction of energy bars and limit market growth. Also, energy bars are more expensive than regular snacks. They are less appealing to price-conscious consumers, particularly in economically disadvantaged regions. Manufacturers face the problem of balancing ingredient, production, and branding costs while maintaining competitive pricing.

Category-Wise Acumens

How Does the Increase in Health Consciousness Propel the Demand for Protein Bars?

According to analysis, the protein bar segment is estimated to dominate the market during the forecast period. The increased awareness of health and fitness among consumers has resulted in a huge increase in demand for protein bars. These bars are marketed as a convenient supply of high-quality protein, appealing to fitness enthusiasts and those seeking to maintain a balanced diet. The growing popularity of protein-rich diets, as well as the emphasis on muscle rehabilitation and growth, are driving this trend even further.

Protein bars are a quick and easy option for busy consumers looking for nutritional snacks. Their portability makes them excellent for people who lead active lifestyles, such as sports and professionals who require a quick energy boost during the day. This desire for on-the-go nutrition fuels the popularity of protein bars, cementing their market domination.

Furthermore, the protein bar segment is distinguished by ongoing innovation, with producers launching new flavors, textures, and compositions to cater to a wide range of consumer tastes. The addition of natural ingredients, low-sugar choices, and functional additives like vitamins and minerals increases their appeal. This continual product development reaches a larger audience, establishing the segment’s dominance in the energy bar market.

How do Supermarkets/Hypermarkets Contribute to the Highest Sale of Energy Bars?

The supermarkets/hypermarkets segment is estimated to dominate the energy bar market during the forecast period. Hypermarkets and supermarkets have a large selection of energy bars to cater to a wide range of client tastes. This vast selection helps customers to readily compare brands and varieties, increasing the likelihood of purchase. The opportunity to access many selections under one roof makes these retail layouts extremely appealing to consumers looking for convenience and diversity in their snack choices.

These retail channels offer promotions, discounts, and loyalty programs to encourage customers to purchase energy bars. Such promotional techniques not only increase sales but also raise brand awareness, encouraging customers to explore new items. The ability to use these marketing strategies effectively positions hypermarkets and supermarkets as the preferred shopping venues for energy bar customers.

Furthermore, hypermarkets and supermarkets are strategically positioned in cities and suburbs, making them easily accessible to a huge number of customers. This accessibility is critical for busy customers who value convenience in their buying experiences. The presence of these huge shop formats guarantees that energy bars are easily accessible, hence increasing their market share in the energy bar market.

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Country/Region-wise Acumens

How Does the High Prevalence of Obesity in North America Bolster the Demand for Energy Bars in the Market?

According to analyst, North America is estimated to dominate the energy bar market during the forecast period. North America, particularly the United States, has a high obesity rate, which is encouraging customers to choose healthier snack options such as energy bars. According to the Centers for Disease Control and Prevention (CDC), the obesity prevalence in the United States was 42.4% in 2017-2018. This health concern is driving customers to seek out healthier, portion-controlled snacks. According to the International Food Information Council’s 2020 Food and Health Survey, 43% of Americans always or frequently look for healthy food options when shopping, fueling regional demand for energy bars.

Furthermore, North America has a thriving fitness and sports nutrition market, which contributes significantly to energy bar usage. According to the Global Wellness Institute, the North American fitness market was worth USD 105 Billion in 2019, the world’s largest. The Sports & Fitness Industry Association (SFIA) claimed that 72.2% of Americans aged 6 and above were physically active in 2019, indicating a sizable market base for energy bars as a convenient source of nourishment for active lifestyles.

What are the Main Drivers of the Energy Bar Market in Asia Pacific?

The Asia Pacific region is estimated to exhibit the highest growth within the energy bar market during the forecast period. Consumers in the Asia-Pacific region are becoming more aware of health and well-being, which is prompting them to seek out better snack options. According to 2020 research from the Asia Pacific Food Industry (APFI), 93% of regional customers are willing to pay more for healthier food options. This health-conscious trend is driving demand for healthy snacks like energy bars, particularly among the increasing middle-class population in China and India.

Furthermore, the Asia Pacific region is experiencing an increase in sports engagement and fitness activities, which is driving up demand for energy bars as a rapid source of nourishment. The International Health, Racquet & Sportsclub Association (IHRSA) reported that the Asia-Pacific health club market served 22.5 million members in 2019, with a market value of USD 16.8 Billion. This burgeoning fitness trend is increasing the use of energy bars among athletes and fitness lovers in the region.

Competitive Landscape

The competitive landscape of the energy bar market is defined by a wide range of product offerings and dynamic strategies aimed at catering to the changing demands of health-conscious customers.

Some of the prominent players operating in the energy bar market include:

• The Kellogg Company
• General Mills, Inc.
• Lotus Bakeries Corporate
• Mars, Incorporated (Kind LLC)
• Mondelēz International, Inc. (Clif Bar & Company)

Latest Developments

• In August 2022, Mondelez International, Inc. acquired Clif Bar & Company. Mondelez International plans to expand its global snack bar business by acquiring leading brands such as CLIF, CLIF Kid, and LUNA, which complement the company’s refrigerated snacking business in the US, and Grenade, a popular performance nutrition brand in the UK.

Report Scope

Energy Bar Market, By Category

Type:

• Protein Bar
• Nutrition Bar
• Cereal Bar
• Fiber Bar

Nature:

• Organic
• Conventional

Distribution Channel:

• Hypermarkets/Supermarkets
• Convenience Stores
• Specialty Stores
• Online Channel
• Others

Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Research Methodology of Market Research:

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