Nutritional Bars Market: Product Development and Launches by Manufacturers Favors the Sector Growth

The nutritional bars market size is expected to reach US$ 9,838.38 million by 2028; registering at a CAGR of 5.6% from 2022 to 2028, according to a new research study conducted by The Insight Partners. Nutritional bars contain a wide range of vital nutrients and vitamins, as well as sufficient protein and carbohydrates to keep body functioning. The demand for nutritional bars has surged owing to increasing awareness about their functional benefits such as immune support and stress relief, growing preference for healthy snacking among millennials, and the rising number of product development and launches by nutritional bar manufacturers.

In addition, the growing consumer preference for ready-to-eat (RTE) meals and packed food items is boosting the demand for nutritional bars. Based on type, the nutritional bars market is segmented into protein bars, high-fiber bars, and others. The protein bars segment held the largest market share in 2021, whereas the high-fiber bars segment is projected to register the highest CAGR from 2022 to 2028. The market growth in the protein bars segment is attributed to the increasing inclination toward fitness and protein diet and the growing demand for on-the-go breakfast meal items.

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Over the past few years, people have become concerned about their diet and the nutritional profile of the products they consume. Nutritional bars manufacturers are engaging in various strategic development initiatives to sustain in the market by offering innovative products to customers. In 2021, LUNA, the women-centric brand by Clif Bar & Company, launched a new line of bars containing 2.5 grams of prebiotics. Studies show that 5 grams or more of fiber-containing prebiotics can propel the development of beneficial bacteria in the gut, supporting digestive health.

In 2021, Nature Valley launched Protein Crunch bars with a creamy and crunchy texture. The product contains 10 grams of protein, as well as ingredients such as creamy peanut butter and crunchy nuts in a whole-grain oat bar. This new addition to the Nature Valley Protein lineup is ideal for between-meal cravings. In 2022, Kellogg's Special K introduced new Protein Snack Bars, with 6 grams of protein and 90 calories per bar. These are available in two flavors-sweet berry vanilla and rich chocolatey brownie sundae. The new Special K Protein Snack Bars can be carried as an easy, on-the-go protein snack.

Such product launches attract consumers to choose from a wide range of nutritional bars, which is eventually bolstering the growth of the nutritional bars market.

The Simply Good Foods Co, Clif Bar & Co, General Mills Inc, The Kellogg Co, Rise Bar Inc, The Quaker Oats Co, Perfect Bar LLC, Mars Inc, Kind LLC, and Premier Nutrition Co LLC are a few key players operating in the global nutritional bars market. These companies have a diverse geographic presence and offer an extensive product range to cater to different trends emerging in the nutritional bars market.

Impact of COVID-19 Pandemic on Nutritional Bars Market

The consumption of functional food and beverage products and dietary supplements and the high demand for protein-rich products were among the key factors that boosted the growth of the nutritional bars market. However, after the onset of COVID-19 pandemic in 2020, industries experienced unprecedented challenges such as supply chain constraints caused by nationwide lockdowns, trade bans, and travel restrictions. The supply chain disruptions created a shortage of raw materials, which hindered the production and distribution of various products, leading to increased prices.

Before the COVID-19 outbreak, the nutritional bars market was driven by the rising demand for snacking options with high nutritional content that support digestive and immune health. Moreover, in 2021, various economies resumed operations as governments of various countries announced relaxation in the previously imposed restrictions, which boosted the global marketplace. Further, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap and other repercussions. Further, the COVID-19 pandemic had a long-term favorable impact on the nutritional bars market. Hence, the demand for nutritional bars is high because they help maintain the overall nutritional requirement of the human body.

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The report segments the nutritional bars market as follows:

The nutritional bars market, based on type, is segmented into protein bars, high-fiber bars, and others. In terms of category, the market is bifurcated into conventional and gluten-free. Based on distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, online retail, and others. By geography, the nutritional bars market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

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This release was published on openPR.