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Energy Bar Global Market Analysis, Trends, Growth, Research And Forecast 2033
Energy Bar Global Market Analysis
According to The Business Research Company's, The energy bar market size has grown steadily in recent years. It will grow from $4.08 billion in 2023 to $4.26 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to increased health and fitness awareness, shift in consumer lifestyles, growth of interest in weight management, innovation in ingredients, convenience and on-the-go nutrition.
The energy bar market size is expected to see steady growth in the next few years. It will grow to $5.09 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to retail availability and accessibility, plant-based and sustainable options, smart nutrition and functional ingredients, global health challenges response, expansion of fitness industry. Major trends in the forecast period include low sugar and natural sweeteners, innovative flavors and textures, sustainable packaging solutions, personalized nutrition offerings, snacking convenience and portability, collaborations and limited editions.
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Market Drivers and Trends:
Increasing participation in sports, health clubs, and gyms is driving the energy bar market going forward. Sports refer to physical activities or games that are typically played competitively or for leisure. Health clubs or gyms refer to facilities that offer a variety of fitness and exercise equipment, classes, and services designed to help people improve their physical health and fitness. Energy bars provide a healthy source of fitness enthusiasts and helps them meet their fitness goals. For instance, in 2022, according to the Sports & Fitness Industry Association (SFIA), a US-based industry association of the sports and fitness industry, 237 million US citizens participated in at least one sport, which was an increase of 9.2% from 2017 and 1.9% from 2021. Further, Cardio kickboxing had the highest year-on-year increase with 8.5% from 2021 to 2022. Therefore, the increasing participation in sports, health clubs, and gyms is propelling the energy bar market.
Product innovations are a key trend gaining popularity in the energy bar market. Major companies operating in the market are introducing innovative products such as 'That's it Ket*o Kick coffee energy bar' to sustain their position in the market. For instance, in July 2021, That's It, a US-based manufacturer of healthy snacks launched a new Ket*o Kick coffee energy bar. The uniqueness of the product is that it's suitable for the ket*o diet and has only six plant-based whole ingredients. It contains 95mg of caffeine from Fair Trade, single-origin Ethiopian coffee beans. With the introduction of this new snack, there is now a healthier and easier method to provide body with the whole foods and caffeine it needs while maintaining a plant-based and ket*ogenic diet.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Lotus Bakeries NV; General Mills Inc.; Clif Bar & Company; ProBar LLC; Post Holdings Inc.; Bumble Bar Inc.; PepsiCo Inc.; Kind LLC; Kellogg Company; Wholesome Habits Private Limited; Quest Nutrition LLC; Chicago Bar Company; Abbott Nutrition Manufacturing Inc.; Atlantic Gruppa d.d.; Nestle SA; Atkins Nutritionals Inc.; McKee Foods Corporation; The Simply Good Foods Company; The Bountiful Co.; Mars Incorporated; Fullwell Mill Limited; LÄRABAR; Mediterra Inc.; Brighter Foods Ltd.; Health Warrior Inc.; The Hershey Company; Energy Bar Foods; Superior Supplement Manufacturing:; Element Bars Inc.; YouBar
Energy Bar Market 2024 Key Insights:
• The energy bar market size will grow to $5.09 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%.
• The Sustained Growth Of The Energy Bar Market Amidst Fitness Boom
• Pioneering The Future Of Energy Bars With Innovation
• North America was the largest region in the energy bar market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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