The Latin America, Middle East and Africa Energy Bars Market would witness market growth of 8.6% CAGR during the forecast period (2021-2027).
Food products like convenience foods, bars, and snacks have increased rapidly during the lockdown through online stores but demand for the energy bar market has continued to prevail in the market. People are addicted to these energy bars that they buy these products in large quantities due to a fear of running out of these products. Thus, this is the key reason for the large basket size purchases done for these sustenance bars and snacks all around the globe. The key reason behind the rise in sales of energy bars all around the globe is the higher demand of consumers for on-the-go snacks and convenient snack options.
There has been a potential increase in wellness and health trends for healthy foods, low-calorie foods for snacking, and various on-the-go convenient foods. In South America, consumers are shifting from high-calorie snacks to protein-rich snacks as the health awareness among consumers is increasing. The customers are also shifting towards organic food products. People are attracted to fancy packaging, innovative flavors, and convenience, which is motivating makers in the region to launch new products based on these trends.
The Middle East and African consumers opting for high fiber and allergen-free options as these bars are convenient for consumers and due to this consumer are able to fulfill their nutritional needs. Consumers are shifting towards healthier snack options such as protein and nutrient-rich foods. Nowadays, there has been a rise in obese and diabetic patients due to which consumers are shifting towards healthier snacking options. Thus, these factors are responsible for fueling the global energy bar market in this region.
The Protein Bar market dominated the South Africa Energy Bars Market by Type in 2020, thereby, achieving a market value of $5,385.8 Thousands by 2027. The Nutrition Bar market is estimated to grow at a CAGR of 8.4% during (2021 - 2027). Additionally, The Cereal Bar market would exhibit highest CAGR of 10.2% during (2021 - 2027).
Based on Nature, the market is segmented into Organic and Conventional. Based on Type, the market is segmented into Protein Bar, Nutrition Bar, Cereal Bar and Fiber Bar. Based on Distribution Channel, the market is segmented into Specialty Stores, E-commerce, Hypermarkets & Supermarkets and Convenience Stores. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Energy bars Market is Predict to reach $1.1 Billion by 2027, at a CAGR of 7.7%
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
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