Protein Bar Market Share Report, Growth Analysis And Trends 2033

The Business Research Company recently released a comprehensive report on the Global Protein Bar Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 Drivers and Trends:

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.

Product innovation is the key trend gaining popularity in the protein bar market. Major companies operating in the protein bar market are focused on developing innovative products to strengthen their position in the market. For instance, in June 2022, Kellogg Company, a US-based company that manufactures and markets protein bars, breakfast cereals, cookies, and other products, launched Protein Snack Bars through its brand Special K. The Special K Protein Snack Bars are powerful, equally tasty and filling, and include 90 calories and provide a quick boost of protein on the move without compromising on flavor. They include six grams of protein and come in two mouth-watering flavors including sweet Berry Vanilla and rich chocolaty Brownie Sundae.

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Major Key Players of the Market:

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

Protein Bar Market 2024 Key Insights:

• 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%.
• Rising Popularity Of Protein-Based Diets Driving Growth In The Protein Bar Market
• Product Innovations Transforming The Protein Bar Market
• North America was the largest region in the protein bar market in 2023

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