Energy Bar Market Poised for Exponential Growth, Fueled by Health-Conscious Consumers and Digital Marketing: Allied Market Research Report

According to a new report published by Allied Market Research, titled "Energy Bar Market by Type, Nature, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2028," 
The energy bar market size is expected to reach $1,010.9 million by 2028, at a CAGR of 6.4% from 2021 to 2028.

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. 

𝐆𝐥𝐨𝐛𝐚𝐥 𝐋𝐞𝐚𝐝𝐞𝐫𝐬

Product launches, mergers & acquisitions, joint ventures, and geographical expansions are the key strategies adopted by players in the market. The key players in the global energy bar market industry 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.

An energy bar is a healthy snack bar made up of nutritional ingredients that are designed to increase energy and endurance. The main feature that sets it apart from other protein and snack bars is its high carbohydrate and sugar content, which contributes to its high energy value. 

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐃𝐚𝐭𝐚? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐡𝐞𝐫𝐞 𝐚𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/5475

One of the key factors driving innovation in the food & beverage industry is the rapid evolution of consumer preferences. At present, the current energy bar market trends indicate that the demand for energy bars is expected to grow at an impressive rate in the coming years, owing to the steady rise in number of health-conscious people around the world as well as growing awareness about the benefits of energy bars.
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Attributed to the fast-paced lifestyle, particularly in urban areas around the world, an increasing number of consumers are turning toward on-the-go products to meet their nutritional needs. As a result, energy bars have become increasingly popular in recent years.

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.

𝐕𝐚𝐫𝐢𝐨𝐮𝐬 𝐭𝐲𝐩𝐞𝐬 𝐨𝐟 𝐞𝐧𝐞𝐫𝐠𝐲 𝐛𝐚𝐫𝐬 𝐚𝐯𝐚𝐢𝐥𝐚𝐛𝐥𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞 𝐦𝐞𝐚𝐥-𝐫𝐞𝐩𝐥𝐚𝐜𝐞𝐦𝐞𝐧𝐭 𝐛𝐚𝐫, 𝐰𝐡𝐨𝐥𝐞 𝐟𝐨𝐨𝐝 𝐛𝐚𝐫, 𝐨𝐚𝐭 𝐛𝐚𝐫, 𝐚𝐧𝐝 𝐞𝐧𝐝𝐮𝐫𝐚𝐧𝐜𝐞 𝐛𝐚𝐫.

By type, the protein bar segment was the highest revenue contributor in 2020, attributed to the fact that, to stay fit and healthy in daily lives, consumers are increasingly turning to weight management and energy products such as protein bars. By nature, the organic segment held the largest market share as the growing awareness of various health effects of artificial additives, such as color, flavor, sweeteners, and preservatives, has fueled the demand for an organic energy bar. Depending on the distribution channel, the specialty stores segment led the market, owing to the availability of a large variety of energy bar in these stores.
Manufacturers use smart labeling on their products to conceal the presence of high calorie or sugar levels by mentioning fortified or added functional ingredients/elements found in confectionary bars. To eliminate the general perception of health risks associated with the consumption of confectionary bars, it is expected that manufacturers will work to incorporate functional ingredients and elements into their final offerings to gain consumers and increase their energy bar market share.

𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞

Restriction is also imposed by stiff competition from other types of energy bars. Other constraints include lack of flavor and high sugar content in many energy bars, which forces consumers to rethink energy bars as a healthy food product. Furthermore, fitness clubs' marketing campaigns promoting energy bars as a meal replacement have boomed energy bar sales.

The global demand for energy bars has been fueled by the prevalence of hectic consumer lifestyles that result in on-the-go food consumption. Furthermore, rising health concerns among consumers who prefer a balanced diet with nutrient-rich ingredients have boosted product demand. The energy bar market in the in the UK is fueled by the continuous product innovation done in the category of conventional energy bars.

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%.

𝐆𝐞𝐭 𝐭𝐡𝐞 𝐏𝐃𝐅 𝐭𝐨 𝐮𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝 𝐬𝐦𝐚𝐫𝐭 𝐢𝐧 𝐫𝐞𝐝𝐞𝐟𝐢𝐧𝐢𝐧𝐠 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/request-for-customization/5475

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