The Global Energy Bars Market size is expected to reach $1.1 billion by 2027, rising at a market growth of 7.7% CAGR during the forecast period.
Energy bar refers to the supplement bars that provide food benefits, nutritive value, and energy. Fats, proteins, and carbohydrates are the key ingredients present in these bars. These energy bars are a great source of immediate energy and are mainly used as a replacement for meals. During training and workouts, energy bars provide energy that is generated from carbohydrates and protein present in the energy bars. These energy bars also provide the body with post-workout nutrition which is required to repair any minor muscle tear and build new muscles tissues which accidently take place during the training or workout session.
These energy bars are healthy and convenient on-the-go snacks due to this consumer demand is rising, thereby accelerating the global energy bar sales. Energy bars are feasible alternative for adults who are looking for instant results. This bar comes in a small package with a balanced diet consisting of micronutrients, other nutrients, and protein which are required on daily basis.
The factors boosting the market are increasing awareness of the benefits of energy bars, growth of digital marketing, entry of new market players, and a higher number of health-conscious consumers. Moreover, as the higher number of social media influencers and athletes continue to recommend these energy bars, due to this the sale of energy bars would boost in the forecast period. Thus, these are the factors that would act as a major driver in Energy bar market growth.
Various private players have entered the market during the covid-19 pandemic due to the rise in demand for snack products and so, these manufacturers benefitted from this hike in demand. In 2020, the energy bar market growth has been subsequently affected due to the covid-19 epidemic. Many retail stores, supermarkets, sales channels, and malls were closed and some are still close due to strict lockdown rules imposed by the government around the world. Various manufacturing brands have shifted to e-commerce platforms to generate revenues and boost their sales during the lockdown. In some countries, lockdown restrictions are gradually shifting due to which offline sales are increasing currently.
Energy requirements, quick usage, easy provision for nutrition, and convenience of storage and these factors are associated with the higher demand for innovative snacks mainly in developed countries. Online stores have witnessed outstanding sales of convenience foods, bars, and snacks during lockdown but the demand for energy bars remained uninterrupted.
Consumers have the opportunity to visit the retail outlets of companies. Nowadays, all these products are easily available in the malls which make it easy for customers to buy them. Global manufacturers are experiencing a lot of competition from regional players due to their higher spending on R&D. There has been a need for manufacturers to expand the scale of their R&D efforts as the food sector is speedily impacted by new technologies.
The smart labeling process is used by the manufacturers to hide the sugar content or high calorie in these bars by labeling them as added functional ingredients/elements or fortified over these energy or confectionary bars. Consumers perceive that consuming confectionary bars would negatively affect their health and would increase the health risks.
These energy bars are not easily available in the market. The demand for these products is getting restricted due to the low availability of these bars. Most people prefer grocery stores for essential and non-essential goods. But these energy bars are not available over basic grocery stores which make it difficult for customers as they have accessibility to these grocery stores.
Based on Nature, the market is segmented into Organic and Conventional. Based on the nature, the organic segment would likely to lead the energy bar market with the highest shares during the forecast period. Consumer awareness of chemical-free products, rise in consumer spending capacity, food technologists endorsing organic food bars over conventional bars, increase in organic snack start-ups, product penetration through major retail sector and online platform, increase in population that prefers organic food and use of advanced technology for energy bars would boost the growth of the segment.
Based on Type, the market is segmented into Protein Bar, Nutrition Bar, Cereal Bar and Fiber Bar. On the basis of type, the protein bar segment has acquired the highest market share among the global energy bar market in 2020. The factor responsible for the increase in market share is the rise in consumer preference for portable convenience foods.
Based on Distribution Channel, the market is segmented into Specialty Stores, E-commerce, Hypermarkets & Supermarkets and Convenience Stores. Based on the distribution channel, the specialty store segment obtained the maximum revenue share of the market during 2020. Specialty stores offer various discounts as well as firsthand experience of products and these are the major reasons driving this segment.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 628.8 Million |
| Market size forecast in 2027 | USD 1.1 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 7.7% from 2021 to 2027 |
| Number of Pages | 198 |
| Number of Tables | 364 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Nature, Type, Distribution Channel, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North America market dominated the Global Energy Bars Market by Region in 2020. The Europe market is experiencing a CAGR of 7.3% during (2021 - 2027). Additionally, The Asia Pacific market is showcasing a CAGR of 9% during (2021 - 2027).
Free Valuable Insights: Global Energy bars Market size to reach USD 1.1 Billion by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; The Kellogg Company and General Mills, Inc. are the forerunners in the Energy Bars Market. Companies such as The Simply Good Foods Company, Premier Nutrition Company, LLC, and Clif Bar & Company are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Brighter Foods Ltd. (The Hut Group), The Kellogg Company, General Mills, Inc., Kind LLC, McKee Foods Corporation, The Simply Good Foods Company (Atkins Nutritionals, Inc.), Clif Bar & Company, NuGo Nutrition, Probar LLC, and Premier Nutrition Company, LLC.
By Nature
By Type
By Distribution Channel
By Geography
The global energy bars market market size is expected to reach $1.1 billion by 2027.
The increasing number of R&D activities are witnessing a high adoption rate are driving the market in coming years, however, lack of availability limited the growth of the market.
Brighter Foods Ltd. (The Hut Group), The Kellogg Company, General Mills, Inc., Kind LLC, McKee Foods Corporation, The Simply Good Foods Company (Atkins Nutritionals, Inc.), Clif Bar & Company, NuGo Nutrition, Probar LLC, and Premier Nutrition Company, LLC.
Online stores have witnessed outstanding sales of convenience foods, bars, and snacks during lockdown but the demand for energy bars remained uninterrupted.
North America is the leading region in the global energy bar market. In North America, the United States demands the convenient food highly, due to its fast-paced lifestyle as its one of the most developed nations.
The North America is the leading region in the global energy bar market. In North America, the United States demands convenient food highly, due to its fast-paced lifestyle as its one of the most developed nations.
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