Protein Bars Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017-2025
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Protein Bars Market Taxonomy:
On the basis of protein source type, the global protein bars market is segmented into:
On the basis of product type, the global protein bars market is segmented into:
Energy Protein Bars
Low- Carb Protein Bars
Meal Replacement Bars
On the basis of protein content, the global protein bars market is segmented into:
Low Protein ( 0-15 gm)
Medium Protein (16 gm - 25 gm)
High Protein ( Above 25 gm)
Among protein source type, the plant protein segment held a dominant position in 2016 and is expected to retain its dominance throughout the forecast period. The consumption of plant-based protein is associated with various health benefits, including reduced risk of heart diseases, blood pressure, and cholesterol levels. High protein bars are highly preferred by athletes whereas, low protein bars are preferred by consumers interested in maintaining a healthy protein diet.
Protein Bars Market Outlook:
North America held a dominant position in the global protein bars market in 2016, with S. being the major contributor. Increasing awareness regarding protein supplements and growing demand for convenience food in the region are key drivers for growth of the market in North America. Additionally, according to the U.S. Department of Labor, average daily participation rates in sports and exercise rose by 3.6% from 2003 to 2015. This in turn, is expected to fuel the consumption of protein bProtein Bars Marketars in the region.
In Europe, the U.K. accounted for a major share in the protein bars market, owing to the steadily increasing adoption of nutritional products among consumers in the country. Meal-replacement bars are largely gaining popularity among the obese and overweight population. According to the American Dietetic Association, protein bars help in reducing weight, when part of a well-balanced diet. According to the European Commission, in 2014, around 51.6% adults were reported to be obese in the European Union. Thus, increasing obesity in is expected to propel the demand for meal-replacement bars in the region, in turn boosting growth of the protein bars market.
Asia Pacific is expected to exhibit a significant market growth, owing to the rising prevalence of protein deficiency in the region. According to Coherent Market Insights’ analysis, in 2015, over 80 percent of the people living in India were found deficient in protein. The protein bars market in emerging economies such as China and India is expected to exhibit rapid growth, owing to the rising inclination of the young populace, towards maintaining good physique. Furthermore, increasing participation in sports-related activities in Australia is expected to boost growth of the protein bars market during the forecast period. According to the Australian Sports Commission (ASC), over 17 million people aged 15 years and above, participated in a sport or physical activity during 2015-2016, in Australia.
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Key Players in the Global Protein Bars Market:
Some of the key players operating in the global protein bars market are Groupe Danone, Kellogg Co., General Mills, Inc., Premier Nutrition, Abbott Laboratories, Quest Nutrition, Universal Nutrition Corp., and Active Nutrition International GmbH.
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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