Market size of protein bars will witness significant growth during the projected time period related to increasing consumer preference for convenient food ready-to-eat products. Due to rapid growth in health & fitness clubs and increasing awareness of a healthy lifestyle that is likely to drive the growth of the market for protein bars, these products are gaining popularity.
The global protein bars market was estimated at US$ 1.35 Billion in 2019 and projected to reach US$ 2.35 Billion at CAGR of 6.33% over the forecast period.
Nutritional supplements that provide vitamins, proteins and other nutrients are protein bars. These products retain muscle mass, increase immunity and contribute to the diet with essential amino acids. They are available in a variety of flavours such as chocolate, vanilla, almond, oatmeal and provide a healthy carbohydrate & fat balance that makes them an ideal choice for recovery after workout.
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The increasing prevalence of various health conditions such as obesity and diabetes, has shifted consumer inclination to healthy food consumption, creating opportunities for the market for meal replacement bars. These nutrition bars are intended to offer a low calorie meal and contain a mixture of easily digestible carbohydrates, vitamins and fats that support weight loss. Sales of protein & meal replacement supplements in the U.S. in 2017 were valued at over USD 3 billion, showing favourable examples of market growth. Increasing health maintenance focus has allowed consumers to choose low-calorie, fibre and protein-rich food options to accelerate the demand for protein bars in the industry.
Growing vegan trends and increasing demand for organic food ingredients and nutritional supplements are likely to boost market growth for plant-based protein bars. These bars are organic, gluten-free and contain a combination of several natural ingredients, such as soy and peas, which in the overall diet satisfies the deficiency of essential amino acids. In 2017, the global plant-based protein market amounted to USD 10 billion, demonstrating significant market growth opportunities. These nutritional bars are low in calories and high in protein, which further stimulates market growth and contributes to healthy weight management.
It is likely that increasing health awareness along with changes in lifestyle and dietary intake will fuel the demand for energy bars. In the sports nutrition & fitness industry, these products are widely served because of their ability to provide quick energy during workouts. In 2018, the global sports nutrition market was valued at over USD 50 billion. Such nutritional products provide the appropriate protein balance needed for a healthy lifestyle.
Increasing disposable income has improved the buying power of customers which in turn has boosted the demand for protein supplements, thus driving the demand for protein bars.
Due to the increasing consumer focus on health and fitness in the region, North America protein bars market demand led by the U.S. and Canada is likely to witness significant growth during the projected time period. These dietary products contain essential vitamins and minerals that assist in the treatment of various health conditions such as obesity and diabetes. In 2018, the prevalence of obesity in the United States amounted to 32 percent of the total population, which is likely to increase the demand for products. The growth of the regional protein bar market will be driven by increasing government initiatives and campaigns towards the importance of fitness and by an increasing number of health & fitness centres.
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The importance of health and adoption of healthy diets are booming the global protein bars market. Due to the availability of larger platforms such as supermarkets, hypermarkets, drugstores are leading to sale of the protein bars market. This research report on the global protein bars market has examined by using extensive research techniques such as primary and secondary research. SWOT and porter’s five analyses have been used to examine the global market.
Protein bars are important supplements offering energy and nutritional content to the human body. Most people, nowadays prefer protein bars to fulfill their needs to stay fit. These fitness trends among the world are increasing the market growth. Globally, the protein bars market has examined across several global regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, and Europe to get better insights into the market.
This innovative research report could be an analysis of demand-supply chaining, informative information on manufacturing and productivity matters, and market values of the global protein bars market. Different proteins are acting as a muscle booster for muscle gaining activity. That protein bars can be formed through natural plant-based or animal-based content. Digital advertising, online portals, and applications, some paid marketing campaigns are expected to make major market growth in the near future.
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