Global Protein Bar Market Report and Forecast 2024-2032

Global Protein Bar Market Outlook

The global protein bar market is expected to grow at a CAGR of 6.4% in the forecast period of 2024-2032, to reach a value of around USD 8.58 billion by 2032, driven by growing health-consciousness worldwide.

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Key Trends in the Market

Protein bars are convenient on-the-go snacks with a high protein to carbohydrate/fat ratio. Along with other nutrients, it serves as a key source of proteins. Proteins found in protein bars aid in boosting protein synthesis, building muscle, and preventing fat storage. In the human body, proteins carry out various functions, such as repairing damaged cells and tissues, producing hormones and enzymes, preserving fluid balance, and supplying energy. Sources of isolated proteins found in protein bars include soy, oats, beef, and almonds, among others.

• Protein is a key component that supports fitness. Due to their high nutritional content, protein bars are becoming more popular among consumers who are concerned about their health. Additionally, protein bars boost protein intake without introducing extra calories or carbohydrates. The role of protein bars in supplying necessary nutrients and proteins, boosting energy levels, and strengthening muscle growth, are predicted to increase the protein bar market demand.

• To diversify product offerings and boost sales, product manufacturers are creating gluten-free, plant-based, and organic product varieties. Due to the growing trend of giving distinctive items as gifts, suppliers are also concentrating on creative wrappers and labels, which is enhancing the market outlook.

• Key participants in the industry are benefiting from significant growth potential due to the rise in the number of convenience stores, hypermarkets, supermarkets, and online platforms that offer simple availability, doorstep delivery, and a variety of payment ways.

• The market for protein bars is anticipated to increase due to the rising popularity of fitness trends and the rising need for on-the-go food items brought on by hectic lifestyles.

• The growing prevalence of specialised diets such as lactose-free, vegan, and gluten-free around the world is further projected to increase demand for protein bars made from gluten-free plant sources. This is then anticipated to assist the market's overall expansion over the course of the forecast period.

Global Protein Bar Market Analysis

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Based on source, the market is segmented into plant-based protein bar and animal-based protein bar. On the basis of type, the market is divided into sports nutritional bars, meal-replacement bars, and snack bars, among others. The market on the basis of protein content can be segmented into low protein (0-15 grams) bar, medium protein (16-25 grams) bar, and high protein (above 25 grams) bar. Based on distribution channel, the market can be categorised into supermarkets and hypermarkets, convenience stores, specialist retail stores, and online, among others. The regional markets for protein bar can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global protein bar market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Clif Bar & Company

• General Mills, Inc.

• Kellogg Company

• Abbott Laboratories

• Quest Nutrition

• Hormel Foods Corporation

• Others

Market Share by Type

According to the protein bar market report, sports nutritional bars are anticipated to experience the highest CAGR growth during the forecast period. To perform well on the field, athletes constantly require additional energy. Protein bars with added nutrients for athletes are available which can be ingested while they are working hard on the field because they are portable and ready to eat. These bars are low in carbohydrates and high in protein. Therefore, it is anticipated that the rising demand for protein bars among athletes will increase the demand for sports nutritional bars.

Market Share by Region

North America is predicted to be one of the leading regions in the global protein bar market, due to the large number of health-conscious residents in the region and the growing need for quick and convenient foods. In North America, people are becoming more aware of the benefits of eating healthy foods and protein bars with natural sources of amino acids. Given the rising number of gyms, fitness lovers, health clubs, and fitness training facilities, the United States and Canada are poised to offer significant growth opportunities to the market for protein bars.

Protein bar sales are predicted to expand at the fastest rate in Asia Pacific, largely because of the region's large population and increasing rate of overweight people. Due to the increased trend among young people to maintain a healthy body, the protein bar market is predicted to rise quickly in emerging nations like China and India. The protein bar market is anticipated to develop over the projected period in Australia due to the country's rising participation in sports-related activities. Major market players target the Asia Pacific market with regular marketing and advertising to draw consumers because of the region's large population base.

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Competitive Landscape

Clif Bar & Company, an American company, produces and markets healthy foods and beverages, including energy and protein bars, organic snacks, and sports drinks. Its products are made for those who require rapid energy before, during, or after exercise.

General Mills, Inc., an American multinational manufacturer formed in 1928, is a marketer of branded consumer foods through retail outlets. The company has its headquarters in the United States, and its product line consists of ready-to-eat cereals, quick meals, baking supplies, pastries, snacks, yoghurt, and ice cream. Additionally, it offers frozen breakfast and frozen entrees, ethnic meals, fruit and savoury snacks, pizza, soup, grain, nutrition bars, side dish mixes, and frozen hot snacks.

Kellogg Company, headquartered in Michigan in the United States manufactures and sells ready-to-eat cereal and other convenience meals. Its assortment of products include cereals, savoury snacks, cookies, crackers, cereal bars, frozen waffles, toaster pastries, fruit-flavoured snacks, and vegetable meals. Through its direct sales team, distributors, and brokers, Kellogg provides its goods to merchants and supermarkets for resale.

Other market players include Abbott Laboratories, Quest Nutrition, and Hormel Foods Corporation, among others.

Key Highlights of the Report