Plant-Based Bars Market is projected to witness lucrative growth by reaching up to USD 12.5 billion by 2030

Report Overview
The Global Plant-Based Bars Market USD 7.2 billion in 2022 and is projected to witness lucrative growth by reaching up to USD 12.5 billion by 2030. The market is growing at a CAGR of 7.2% during the forecast period 2023-2030.

Plant-based bars are snacks or meal replacements crafted from ingredients sourced from plants, including nuts, seeds, fruits, vegetables, and grains. These bars are created to offer a convenient and portable source of nutrition that is not only healthy but also environmentally sustainable. Typically rich in macronutrients such as protein, fiber, and healthy fats, as well as micronutrients like vitamins and minerals, plant-based bars cater to consumers looking for nutritious and on-the-go snack options.

The ingredients in plant-based bars are often sweetened with natural sources like dates or maple syrup, and additional flavorings may include cinnamon, vanilla, or cocoa powder. As dietary choices increasingly reflect a desire for both convenience and health, plant-based bars have gained popularity. This trend aligns with the preferences of consumers seeking snacks that not only meet their nutritional needs but also adhere to plant-based and environmentally conscious dietary choices. For instance, the World Animal Foundation's 2023 report notes the presence of 88 million vegans worldwide, emphasizing the global interest in plant-based lifestyles.

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Market Dynamics

The growth of the plant-based bars market is being driven by the increasing demand for allergen-free options and products that meet special dietary needs. Plant-based bars often serve as alternatives for individuals with common food allergies, such as dairy, gluten, soy, and nuts. These bars are specifically formulated without allergens, making them suitable for people with specific dietary restrictions or sensitivities. By providing allergen-free options, plant-based bars expand their consumer base and address the needs of those who may have limited snack choices due to allergies.

Many individuals with special dietary needs, including those with allergies or sensitivities, prioritize their health and wellness. Plant-based bars, crafted with wholesome ingredients and free from allergens, resonate with this health-focused approach. Notably, the Centers for Disease Control and Prevention (CDC) reports that about 1 in 13 children in the United States has a food allergy. In catering to special dietary needs, plant-based bars position themselves as nutritious and mindful choices for consumers seeking healthier snack options.

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Market Segmentation

By Product Type
Cereal/Granola Bars
Protein Bars
Snack Bars
Meal Replacement Bars
Others

By Ingredient
Nuts & Seeds
Grains
Fruits
Others

By Distribution Channel
Supermarket/Hypermarket
Specialty Stores
Online Sales

Market Key players
Major players are Kellogg's Company, LoveRaw, 88 Acres, Rise Bar, Vaxa Bar, Green's Mills Inc., Raw Bite, GNC Holdings LLC, General Mills Inc., MADE GOOD.

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