Market Overview:
Protein bars are nutritional bars, rich in protein content. They are gaining popularity among the health conscious population as a meal substitute owing to busy work life and shortage of time for intake of proper meal. Protein bars are mainly fortified with vitamins and minerals which is boosting its growth in the market. Moreover, in order to enhance the taste of the bars, manufacturers add various flavors to the product including chocolates, fruits, peanut butter, savory, spices, and others which is adding fuel to the growth of the market.
Asia Pacific is expected to have a substantial growth over the forecast period 2017-2023. In Asia Pacific region, China and Japan are the major contributors to the growth of the protein bars market followed by India. Growing population in developing countries followed by increasing working population is driving the market growth of protein bars, a portable convenience product.
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Moreover, growing health-conscious population is adding fuel to the growth of the protein bars market. However, there is a large number of substitutes available for protein bars which is a restraint for the growth of protein bars market. Nevertheless, all these factors will lead to the growth of Asia Pacific market at a CAGR of 4.9% during the forecast period 2017-2023.
Major Key Players:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the key market players. It further includes product portfolios, developments of leading players, which include
- Atkins Nutritionals, Inc. (U.S.)
- Clif Bar & Company. (U.S.)
- General Mills Inc. (U.S.)
- Kellogg Co. (U.S.)
- Premier Nutrition (U.S.)
- Lenny & Larry’s Incorporated (U.S.)
- Mars Incorporated (U.S.)
- Quest Nutrition (U.S.)
- Caveman Foods LLC (U.S.) and
- Abbott Nutrition Manufacturing Inc. (U.S.)
Key Findings:
Gluten-free protein bars are gaining acceptance from majority of the population
Germany, Canada, Belgium, France, and Italy are the major exporters of protein bars
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Segments:
Protein bars market is segmented on the basis of type such as plant protein and animal protein. Among them, the plant protein segment is anticipated to gain substantial growth over the coming years due to increasing demand for gluten-free plant sources among the population suffering from celiac diseases.
On the basis of flavors, protein bars are segmented such as chocolates, fruits, peanut butter, savory, spices, and others. The chocolate segment is witnessed to be dominating among others. However, the fruits and peanut butter segments are expected to have a steady growth over the forecast period.
Based on the distribution channel, protein bars are segmented as store based and non-store based. Protein bars are, however, mainly sold through store based distribution channel among which grocery wholesalers and retail stores are the major contributors.
The global protein bar market is segmented into the following regions
North America
- U.S.
- Canada
- Mexico
Europe
- Germany
- France
- Italy
- Spain
- U.K
- Rest of Europe
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Asia Pacific
- China
- India
- Australia
- Japan
- Rest of Asia Pacific
Rest of the world
- Brazil
- Argentina
- South Africa
- Others
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