SHERIDAN, WYOMING, UNITED STATES, November 21, 2022 /EINPresswire.com/ — According to the IMARC Group’s latest report, “Protein Bar Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global protein bar market size reached US$3.12 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$4.5 Billion by 2027, displaying a 5.86% growth rate (CAGR) over the period 2022-2027.
Market size value in 2021 – 3.12 Billion
Growth Rate – 5.86%
2027 Revenue Forecast – 4.5 Billion
A protein bar is a nutrition bar made from dates, dried fruit, nuts, seeds, and whole grains such as oats and quinoa. It is consumed instead of a portable meal by individuals who prefer a healthy diet. It has essential nutrients such as carbohydrates, fats, minerals, vitamins and protein. As a result, it helps support weight management, increase energy, strengthen bones and muscles, minimize blood sugar levels and maintain a balanced diet. It is easily available through online and offline retail platforms. Currently, the rising trend of the gym and the increasing adoption of a protein-based diet is catalyzing the demand for protein bars worldwide.
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Today, factors such as rapid urbanization, expanding purchasing power and the increasing tendency of individuals to eat healthy and nutritious diets are among the main factors positively influencing the demand for protein bars worldwide. Also, due to busy lifestyles contributing to the growth of the market, there is a shift in consumer preference towards convenient snack options such as protein bars. Also, growing health awareness among individuals and growing awareness among the masses about the benefits of consuming protein bars is driving the market. The increasing prevalence of obesity and other lifestyle diseases is also supporting the growth of the market. However, people’s increasing focus on their physical appearance is catalyzing the demand for dietary supplements such as protein bars to maintain a desirable body shape and size. Also, the growing need for clean-label products and avoidance of allergens is driving demand for plant-based protein bars. Apart from that, the increasing participation of individuals in recreational sports, fitness and athletic activities creates a positive outlook for the market. The growing popularity of meal replacement protein bars among athletic athletes, bodybuilders and athletes is also fueling the growth of the market. In addition, product manufacturers invest in advertising campaigns such as endorsements of famous and influencers to increase their current sales and profitability. They also offer gluten-free and organic product varieties in multiple flavors such as bitter chocolate, chocolate almond, peanut, blueberry, orange and herbal to expand their product portfolio. This provides lucrative growth opportunities to the leading players operating in the industry. In addition, the trend to gift unique premium products in innovative packaging and labels is expected to accelerate the growth of the market in the coming years.
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List of Key Companies Covered in This Market Report:
Caveman Foods LLC
Clif Bar & Company (Mondelez International Inc.)
General Mills Inc.
Hormel Food Inc.
Premier Nutrition Company LLC (BellRing Brands Inc.)
Simply Good Foods Company.
The report has segmented the market on the basis of source, type, distribution channel and region.
Distribution by Source:
Distribution by Type:
Sports Nutrition Bar
Meal Substitute Bar
Distribution by Distribution Channel:
Supermarkets and Hypermarkets
Distribution by Regions:
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
North America (United States, Canada)
Europe (Germany, France, UK, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
Middle East and Africa (Turkey, Saudi Arabia, Iran, United Arab Emirates, Others)
Key points of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Environment
If you need certain information that is not currently covered by the report, we can provide it to you as part of the customization.
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