Market Insights
“Increasing demand for convenience food drives the overall protein bars market”
Global health and wellness trends drives the overall protein bars market. The research study suggests that there is a 70% increase in the consumption and launch of new energy and cereal bars during the past few years. Thereby, supports the growth of the market. Moreover, more than 50% of the consumers in the U.S. consumes any type of snack and other bars products on a regular basis. Additionally, about 25% of the consumers consumes meal replacement bars.
Major manufacturers of protein bars are expanding their reach and entering into new geographies. For instance, in December 2018, Tom Oliver Nutrition, a UK based supplement firm expands its reach into Asia market. Through this expansion, Tom Oliver Nutrition aims to deliver its newly launched high-protein bars into Asia Pacific market. Tom Oliver can capture a number of opportunities such as increasing health consciousness from the Asia Pacific markets by offering new nutritious products.
Top manufacturers of protein bars are focusing to increase their product portfolio by launching new bars in the market.
Browse the full report at https://www.credenceresearch.com/report/protein-bars-market
Industrial Developments
• In November 2019, Suspro Foods increased its product portfolio by launching new bars. The new bars are offers benefits of both nutrition and protein bars. Moreover, the new bars derived from allergen friendly and plant-based proteins. The bars comes in two category namely, snack protein and high protein.
• In May 2019, Science in sports (SiS) launched a new high protein plant-based bar. The Smart Bar Plant is a vegan bar, having low sugar content. The smart bar plant is mainly designed for gym and sport persons. The Smart Bar Plant is approved by Vegetarian Society as vegan, and composed from 100% natural and gluten-free ingredients.
• In June 2018, Tom Oliver launched new vegan protein bar. The new protein bar offers 15% less calories, 38% less fat and 15% more protein than other protein bars in the market. Moreover, the new protein bar comes in four flavors chocolate mint, chocolate caramel, chocolate coconut and chocolate raspberry.
Key Market Movements:
• Globally, the protein bars market is rising at a CAGR of 6.7% for the estimated period from 2019 to 2027
• North America dominated the global protein bars market in the year 2018 and expected to continue its dominance during the forecast period. The dominance is due to increasing health consciousness among people and increasing demand for healthy and ready to eat food in the region.
• Europe expected to grow considerably due to rising consumer preference towards natural products and gluten-free products. The growth of food emulsifiers in the European market is driven by factors such as increasing health and fitness trends among European consumers.
• The protein content segment sub-divided into high protein, medium protein and low protein. The high protein hold the largest share in the year 2018 due to inclination of consumers towards fit and healthy lifestyles.
• The category segment further classified into nutrition bars, gluten-free bars and others. The nutrition bars holds the largest segment in 2018. As nutrition bars offers weight loss tool for overweight and obese people.
List of Companies Covered:
• Tom Oliver Nutrition
• Abbott.
• The Balance Bar Company
• Think!
• Caveman Foods LLC
• Clif Bar & Company.
• QuestNutrition
• Kellogg NA Co.
• Simply Good Foods USA, Inc.
• NuGo Nutrition
• Prinsen Berning
• Mars Inc.
• General Mills, Inc.
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