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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Australia Protein Bar Market Size
The Australia protein bar market reached USD 271.38 million in 2023. The market is expected to grow at a CAGR of 5.65% between 2024 and 2032, reaching almost USD 440.06 million by 2032.
Key Takeaways
- The Australian Institute of Health and Welfare reported that the adult population aged 20-39 years in Australia in 2022 was 72,64,645.
- The Australia protein bar market growth is indicated by the increase in the percentage of adults aged 18-64 meeting physical activity guidelines, rising from 17.0% in 2017-18 to 22.4% in 2022, according to the Australian Bureau of Statistics.
- In 2022, nearly one-quarter (23.9%) of individuals aged 15 years and older met the physical activity guidelines, as reported by the Australian Bureau of Statistics.
Based on the source, plant-based boosts the Australia protein bar market due to the growing trend towards veganism
Plant-based protein bars cater to vegans and vegetarians, are allergen-free, and eco-friendly. They provide various protein sources, aid digestion, and have low saturated fats, appealing to health-conscious individuals.
In 2023, Australian confectioner Menz collaborated with breakfast brand Carman to produce a limited-edition Violet Crumble protein bar. The bars included elements of Violet Crumble's honeycomb, peanuts, and milk chocolate, alongside natural ingredients.
Animal-based protein bars offer complete proteins - BCAAs for muscle recovery, muscle growth support, easy absorption, nutrients like iron and B12, and sustained energy, ideal for athletes.
Australia Protein Bar Market Report Snapshots
Australia Protein Bar Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market was valued at USD 271.38 million in 2023.
The market is projected to grow at a CAGR of 5.65% between 2024 and 2032.
The revenue generated from the market is expected to reach USD 440.06 million in 2032.
The protein bar market is categorised according to the source, which includes plant-based and animal-based.
The key players are HITEX CONFECTIONERY PTY LTD, Kuranda Wholefoods, Annex Foods, Future Bake Australia Pty Ltd, Omniblend Pty Ltd, and FERNDALE FOODS AUSTRALIA among others.
Based on the protein bar end use, the market is divided into adult males, adult females and others.
The market is broken down into New South Wales, Victoria, Queensland, Australian Capital Territory, Western Australia, and others.
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