Protein Bar Global Market Report 2024 - By Report, Size, Share, Demand, Forecast To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Protein Bar Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The protein bar market size has grown strongly in recent years. It will grow from $4.81 billion in 2023 to $5.15 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rising health and wellness trends, fitness and sports nutrition, on-the-go snacking culture, weight management and dietary trends, increasing vegan and plant-based options.

The protein bar market size is expected to see strong growth in the next few years. It will grow to $6.78 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to focus on clean label and transparency, customization and personalization trends, e-commerce growth, health and fitness apps integration, sustainability and eco-friendly packaging. Major trends in the forecast period include plant-based protein dominance, functional ingredients and nutrient boosts, personalization and customization, snacking convenience, innovative flavors and textures.

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Market Segmentation:
The protein bar market covered in this report is segmented -
1) By Source: Plant-Based, Animal-Based
2) By Product: Gluten-Free Protein Bars, Vegetarian Protein Bars, Sports Nutrition Bars, Other Products
3) By Protein Content: Low Protein Content, Medium Protein Content, High Protein Content
4) By End-User: Adult Male, Adult Female, Other End-User

Major Driver - Rising Popularity Of Protein-Based Diets Driving Growth In The Protein Bar Market
The increasing popularity of protein-based diets is expected to propel the growth of the protein bar market going forward. Protein-based diets consist of foods that contain high amounts of protein, like meat, eggs, milk, nuts, beans, seafood, and vegan products like soy. The increased protein-based diets demand boosts the protein bar market as they are sources of proteins and other vital nutrients. For instance, in June 2022, according to the Canada National Statistical Agency, a Canada-based federal agency that offers important facts about the economy, society, and environmental issues, poultry meat sales climbed for the seventh year in a row, rising 14.9% from the previous year to $3.7 billion. Similarly, Canada produced 848.2 million dozen eggs in 2021, an increase of 1.1% annually. Since the last decade, the production of eggs in Canada has been rising year over year. Therefore, the increasing popularity of protein-based diets is driving the protein bar market.

Competitive Landscape:
Major companies operating in the protein bar market report are Nestlé S.A., Abbott Laboratories, Mars Incorporated, Mondelez International Inc., General Mills Inc., Kellogg Company, Hormel Foods Corporation, Amway Corporation, Glanbia PLC, Post Holdings Inc., Danone North America LLC GNC Holdings LLC, ONE Brands LLC The Simply Good Foods Company, Premier Nutrition Company LLC, The Nature's Bounty Co, Nature's Bounty Co, Clif Bar & Company, Quest Nutrition LLC, Orgain Inc., MusclePharm Corporation, NuGo Nutrition, Natural Balance Foods Limited, RXBAR & Co KIND LLC, PowerBar Inc. Small Planet Foods Inc., GoMacro LLC, Caveman Foods LLC, Naturells India Private Limited, ProBar LLC

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Top Trend - Low-Sugar Protein Bars Reshaping The Market
Major companies operating in the protein bar market are developing new products such as low-sugar protein bars to gain a competitive edge in the market. Low-sugar protein bars are a category of protein bars formulated with reduced sugar content, often using sugar substitutes, catering to individuals seeking a convenient source of protein while maintaining control over sugar intake, making them suitable for weight management and specific dietary preferences. For instance, in August 2023, Mars Inc., a US-based food company, launched Snickers Hi Protein Low Sugar and Snickers Hi Protein Low Sugar White, expanding its protein product range. With familiar Snickers flavors of peanut, nougat, and caramel, these low-sugar bars contain only 2g of sugar, 20g of protein, and 217-218 calories. Mars targets both major multiples and impulse channels, emphasizing the potential of the well-known Snickers brand to attract new consumers in a competitive market. The individually wrapped Snickers Low Sugar High Protein Bar not only provides a delicious and protein-packed snack but also offers the convenience of being easily transportable, making it a convenient option for a quick and satisfying post-workout or on-the-go indulgence.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Protein Bar Market Characteristics
3. Protein Bar Market Trends And Strategies
4. Protein Bar Market - Macro Economic Scenario
5. Protein Bar Market Size And Growth
…..
27. Protein Bar Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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