Energy Bar Market 2022 Comprehensive Research Methodology, Regional Study|McKee Foods Corporation, NuGo Nutrition, Premier Nutrition

The global energy bar market size was valued at $645.0 million in 2020, and is estimated to reach $1,010.9 million by 2028, registering a CAGR of 6.4% from 2021 to 2028.

Energy Bar Market by Type (Protein Bar, Nutrition Bar, Cereal Bar, and Fiber Bar), Nature (Organic and Conventional), and Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, Specialty Stores, and Online Sales Channel): Global Opportunity Analysis and Industry Forecast 2021-2028

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Energy bars are supplement bars that provide energy as well as nutritive value and food benefits. They contain carbohydrates, fats, and proteins, which help to provide immediate energy and are frequently used as a meal replacement. The protein and added carbohydrates in the bar can provide the energy one needs to get through workout or training. It also provides the post-workout nutrition the body requires to build new muscle tissue and repair any minor muscle tears that occurred during the workout.

The rise in number of health-conscious consumers, increase in awareness of the benefits of energy bars, entry of new market players, and growth of digital marketing are the primary drivers of the market. Moreover, as more athletes and social media influencers continue to endorse energy bars, the global sale of energy bars is expected to rise steadily in the coming years. During the forecast period, these factors are expected to propel the growth of the energy bar market.

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Furthermore, over the last decade, a large number of players have gradually entered the global energy bar market, resulting in the availability of energy bars with a variety of flavors, sizes, and nutritional content through various distribution channels. Another factor that has contributed to the popularity of energy bars in recent years is digital boom as brands continue to promote their products through online sales channels such as social media, newsletters, and e-mail marketing. While the global energy bar market remains competitive, market players are expected to focus on packaging, pricing strategies, and marketing strategies to gain a competitive advantage in the current market landscape.

The COVID-19 pandemic created energy bar market opportunity for many private players to emerge in the market to meet the increased demand for snack products, which benefited energy bar manufacturers. The demand for innovative snacks is consistently high in developed countries, owing to the associated convenience of storage, quick usage, and easy provision for nutrition and energy requirements. During the lockdown, online stores witnessed remarkable increase in sales of products, such as snacks, bars, and other convenience foods, sustaining the energy bar market demand. Most people preferred to buy in bulk as they were afraid of running out of products. As a result, large basket of energy bar market size remained a significant reason for the survival of snacks and bars in all regions.

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Market Segment:

The global energy bar market segmentation is done on the basis of type, nature, distribution channel, and region. On the basis of type, the market is categorized into protein bar, nutrition bar, cereal bar, and fiber bar. As per nature, it is divided into organic and conventional. According to distribution channel, it is fragmented into hypermarkets & supermarkets, convenience stores, specialty stores, and online sales channel.

Major Players:

The prominent energy bar industry participants include Brighter Foods Ltd, Cliff Bar & Company, General Mills Inc, Kind LLC, McKee Foods Corporation, NuGo Nutrition, Premier Nutrition Inc, Probar LLC, Quest Nutrition, and Kellogg Company.

Key findings of the study

The global energy bar market was valued at $645.0 million in 2020, and is projected to reach $1,010.9 million by 2028, registering a CAGR of 6.4%.
North America was the highest revenue contributor, accounting for $232.2 million in 2020, and is estimated to reach $389.2 million by 2028, with a CAGR of 7.0%.
By type, the protein bar segment was the highest contributor to the market, with $217.9 million in 2020, and is estimated to reach $367.0 million by 2028, at a CAGR of 7.1% during the forecast period.
On the basis of nature, the organic segment was the highest contributor to the market, with $348.1 million in 2020, and is estimated to reach $565.2 million by 2028, at a CAGR of 6.6% during the forecast period.
In North America, the U.S. was the highest revenue contributor with $114.5 million in 2020, and is estimated to reach $200.0 million by 2028, registering a CAGR of 7.5%.

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