Nutrition Bars Market to Reach US$ 1.8 Bn by 2030, TMR Study

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Oct 05, 2022, 12:30 ET

Rising demand from young and health-conscious consumers favors development of the global nutrition bars market
Increasing demand for on-the-go food products to meet nutritional requirements bolsters market growth

WILMINGTON, Del., Oct. 5, 2022 /PRNewswire/ -- Increasing number of health-conscious individuals across the world, as well as the rising awareness amongst consumers about health benefits of consuming nutrition bars is positively influencing growth within the global nutrition bars market. Moreover, increasing demand for healthy, yet convenient food products is also boosting the demand within the market. Some other leading drivers include hectic and fast paced lifestyles, rising customer preference for on-the-go food and nutrition products, and rapid urbanization. Additionally, the rising popularity of nutrition bars as a meal replacement alternative among the young population is also favoring market growth. According to a recent research report, the global nutrition bars market is anticipated to expand at a CAGR of 4% over the forecast period of 2020 to 2030.

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Increasing number of new players entering the global nutrition bars market in the past few years has led to an increase in the production of nutrition bars with various sizes, nutritional content, ingredients, and flavors. Furthermore, the increasing proliferation of eCommerce platforms and online sales channels has also positively affected the sales growth of nutrition bars. Players are increasingly using various online mediums, such as newsletters, e-mail marketing, and social media promotions and campaigns, to promote their products and increase brand visibility.

Nutrition Bars Market – Key Findings of the Report

Increasing Demand from Millennial Population: Increasing trend amongst health-conscious millennial population for consuming nutrition bars as a replacement for regular breakfast foods is positively affecting growth within the global nutrition bars market. Furthermore, rising popularity of nutrition bars, such as protein bars is also bolstering market growth. To fulfil the increasing demands from millennial population, manufacturers in the market are focusing on reducing the amount of sugar in their products. Furthermore, owing to increasing demand for organic ingredients by millennials, manufacturers are also replacing artificial ingredients in their products with organically sourced ones.
Increase in Online Sales during COVID-19 Pandemic: During the COVID-19 pandemic, lockdowns imposed by governments across the world adversely impacted the offline sales within the global nutrition bars market. To counter this, several leading brands shifted their attention towards online channels and platforms to generate revenue during the pandemic. This aided them in boosting their sales through increasing their brand visibility by using online channels. Players were also engaged in enhancing their social media marketing and online marketing efforts during these difficult times.

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Nutrition Bars Market – Growth Drivers

Rising demand for ready-to-eat functional food products favors growth within the global nutrition bars market
Increasing demand for convenient and nutrition rich food products from health conscious population propels market growth
Increase in the demand from the millennial population favors the expansion of the global nutrition bars market

Nutrition Bars Market – Key Players

Some of the dominant players operating in the global nutrition bars market include Nutrition & Sante SAS, B. V. Vurense Snack Industrie, SAS, SternLife GmbH & Co. KG, Halo Foods Ltd., Frankonia Schokoladenwerke GmbH, Viba Sweets GmbH, Glanbia PLC, Atlantic Grupa D. D., Artnay Bars, Prinsen Food Group B. V., Anona GmbH, Leader Foods OY, and Bedouin S. A. S., among others. Players in the global nutrition bars market are adopting various growth strategies, including launching new products that feature innovative and organic ingredients, and are engaging in inorganic growth strategies. Players are also launching new products to meet the rising demand for vegan and organic products from customers across the world.

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Nutrition Bars Market – Regional Growth Assessment

In 2020, North America region dominated the global nutrition bars market, in terms of industry share. The research report projects that North America region will record highest growth in coming years, followed by the Asia Pacific.

Nutrition Bars Market: Segmentation

Nutrition Bars Market, Product Type

Energy Bars
Protein-rich Bars
Meal Replacement Bars
Low Carbohydrate Bars

Nutrition Bars Market, by Format

Extruded
Co-extruded
Double Layer
Multilayer

Nutrition Bars Market, by Function

Weight Management
Sports & Fitness
Functional Food
Diabetes
Others
Others

Nutrition Bars Market, by Packaging

Wrappers

Clear Wrappers
Matte Wrappers
Metallic Films
Paper Wrappers

Boxes
Others

Nutrition Bars Market, by Nature

Organic
Conventional

Nutrition Bars Market, by Sales Channel

Institutional Sales
Modern Retail
Specialty Stores
Departmental Stores
Online Retail
Others

Nutrition Bars Market, by Region

North America
Latin America
APAC
MEA

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