$ 79.3 Billion Protein Bars Market Size, Worldwide, at
New York, United States, October 01, 2021 (GLOBE NEWSWIRE) – The protein bars market is expected to grow at a compound annual growth rate (CAGR) of 4.3% during the forecast period 2021-2026.
The global protein bars market is expected to reach $ 79.3 billion by 2027.
Ready meals are gaining popularity among consumers. In today’s fast-paced lifestyle, ready meals help people spend less time cooking and planning their meals. Increase snacking, especially in North America, Western Europe and Australia Driving Demand for Ready-Made Meals. Additionally, the growing demand for a healthy lifestyle combined with a need for protein is expected to drive the protein bars market.
COVID-19: Requires protein intake
The COVID-19 pandemic has impacted several industries around the world. With increasing restrictions amid the pandemic, protein bar consumption has suffered. The unavailability of machinery, labor and raw materials had a negative impact on the supply of protein bars. For example, the value of exports of snacks and confectionery to CAFTA-DR and Panama declined by around 24% due to the disruption of the supply chain.
On the other hand, the COVID-19 has created opportunities for market players to innovate and meet demand. The market started to gain momentum after October, as the lockdown was lifted, benefiting businesses. E-commerce played a key role in the positive numbers.
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Protein Bars Market By Protein Source
Animal segment dominates the market
Depending on the protein source, the protein bar is segmented into animal and plant protein. Animal protein bar dominates the market due to the easy availability of animal protein. The proteins consumed of animal origin are complete proteins because they contain all the essential amino acids.
Plant-based protein bars are of interest to people who are vegans or not yet vegans. With the growing number of vegans, the demand for vegetable protein bar should increase.
Nowadays, manufacturers offer the hybrid protein bars that focus on plant and animal protein. Flexitarians would prefer this kind of protein bar.
Protein Bars Market By Protein Content
The high protein content (above 25 g) represents an important part of the market.
Protein is the main ingredient in the complementary diet. The high protein bar finds interest among athletes, bodybuilders and people who want to lose weight. In addition, due to the growing trend of consumers to favor healthy, natural and ready-to-eat foods, there is a need to develop snack foods with high nutritional value. Plus, flavors ranging from chocolate to peanut butter increase the appeal of high protein bars. The medium protein bars segment is gaining significant market share due to its essential consumption in everyday life.
Protein Bars Market by Product Type
A shift towards snacking
Meal replacement bars are gaining the largest market share as they meet the needs of the general population. The rapid growth of snacks has led to the snacking of foods. Consumers tend to substitute meals for snacks. The meal replacement bar is similar to the protein bar, but generally higher in calories, fat and fiber. The snack boom and growing health awareness have increased the popularity of the meal replacement bar.
According to the Midwest Independent Retailers Association, the The U.S. snack bar market has doubled to $ 6 billion in the past decade. The American snack bar market is 60% owned by three players, namely General Mills, Kellogg’s and Clif Bar. Additionally, trends such as healthy, high protein, high fiber kids bars are expected to bolster snacking options during the forecast period.
Protein Bars Market By Regions
North American dominance in the protein bar market
Regionally, North America has the largest saturated protein bar market thanks to top players such as Kellogg’s, General Mills Inc, Mondelez International, Clif Bar and Company, etc. The United States accounts for the largest share, followed by Canada.
Additionally, the growing middle-class population with discretionary income is more likely to purchase snack foods in retail stores. Plus, a fast-paced lifestyle combined with a successful fitness awareness has encouraged people in North America to opt for healthy snacks. Protein bar snacks are in high demand; 1 in 4 American consumers seek high protein snacks.
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Detailed Table of Contents
1.1 Market definition
1.2 Scope of the market
2 Research methodology
2.1 Primary research
2.2 Research methodology
2.3 Assumptions and exclusions
2.4 Secondary data sources
4 Market overview
4.1 Segmentation and Scope of the Report
4.2 Value Chain Analysis: Protein Bars Market
4.2.1 Matrix of suppliers
4.3 Key market trends
4.4 Porter’s five forces analysis
4.4.1 Bargaining power of suppliers
4.4.2 Bargaining power of buyers
4.4.3 Threat of substitution
4.4.4 Threat of new entrants
4.4.5 Competitive Rivalry
4.5 Impact analysis of Covid-19
4.5.1 Analysis of pre-Covid-19 market scenarios
4.5.2 Analysis of post-Covid-19 market scenarios
4.5.3 Actions taken by top players
5 Global Protein Bars Market by Protein Source
5.1.1 Market Size and Forecast (Value)
5.2.1 Market Size and Forecast (Value)
5.3.1 Market Size and Forecast (Value)
5.11 Market Size and Forecast (Value)
6 Global Protein Bars Market by Product Type
6.1.1 Market Size and Forecast (Value)
6.2 Energy protein bars
6.2.1 Market Size and Forecast (Value)
6.3 Meal replacement bars
6.3.1 Market Size and Forecast (Value)
6.4 Protein bars for women
6.4.1 Market Size and Forecast (Value)
6.5 Low-carb protein bars
6. 5.1 Market Size and Forecast (Value)
6.6.1 Market Size and Forecast (Value)
7 Global Protein Bars Market by Distribution Channel
7.1.1 Market Size and Forecast (Value)
7.2 Supermarkets / Hypermarkets
7.2.1 Market Size and Forecast (Value)
7.3 Convenience store
7.3.1 Market Size and Forecast (Value)
7.4 Electronic commerce
7.4.1 Market Size and Forecast (Value)
7.5.1 Market Size and Forecast (Value)
8 Regional overview
8.1.1 Market Size and Forecast (Value)
8.2 North America
8.2.1 Economic overview
8.2.2 Market scenario
8.2.3 United States
8. 3.1 Economic overview
8. 3.2 Market scenario
8. 3.3 Germany
8. 3.4 The United Kingdom
8. 3.5 France
8. 3.6 Italy
8. 3.7 Spain
8. 3.8 The rest of Europe
8.4 Latin America
8.4.1 Economic overview
8.4.2 Market scenario
8.4.5 Rest of Latin America
8.5.1 Economic overview
8.5.2 Market scenario
8.5.7 South Korea
8.5.8 The rest of Asia-Pacific
8.6 The Middle East and Africa
8.6.1 Economic overview
8.6.2 Market scenario
8.6.3 Saudi Arabia
8.6.4 United Arab Emirates
8.6.6 South Africa
8.6.7 The rest of the Middle East and Africa
9 Competitive Landscape – Manufacturers and Suppliers
9.1 Competition scoreboard
9.2 Market Share Analysis, 2020
9.3 Competition scoreboard
9.4 Key developments
10 Company profile
10.1 Kellogg’s company
10.2 Mills General Inc.
10.3 Clif Bar and Company
10.4 Mondelez International Inc
10.5 Atkins Nutrition
10.6 Caveman Food LLC
10.7 Food company Hornel
11 Conclusion and recommendation
12 Acronyms and abbreviations
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