Global Protein Bar Market: Market Segments: By Product Type(Energy protein bars, Meal replacement bars, Women protein bars, Low-Carb protein barsand Others); By Protein Content (Low Protein, Medium Protein, and High Protein); BySource Type (Plant Protein and Animal Protein); By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialist Retail Stores, Online Stores, and Others); and Region - Analysis of Market Size, Share & Trends for 2014 - 2019 and Forecasts to 2030
Protein bars are easy on-the-go snacks that contain carbohydrates/fats with a high proportion of proteins. It is a key source of other nutrients as well as proteins. Proteins produced by protein bars help to improve the synthesis of protein, muscle mass, and fat. In the human body, proteins perform many roles, including cell and tissue repair, hormone and enzyme production, maintaining fluid equilibrium, and supplying energy. The source of isolated proteins in protein bars is, among others, soy, oats, poultry, and nuts. Depending on the need, protein bars are consumed as meal replacers, snacks, or for exercise support. They are available in various flavors, such as chocolate, peanut butter, caramel almond, lemon meringue, and fudge brownie.
Global Protein Bars Market is expected to record significant growth during the forecast period owing to the increasing acceptance of balanced diets, which is one of the factors driving the sales of protein bars, which has resulted in an increased understanding of the value of health and wellness. In addition, due to the growing importance of healthy lifestyles and growing understanding of the health benefits of protein, a positive attitude towards sports nutrition is projected to play a crucial role in encouraging the use of supplements. Other factors likely to raise demand for protein supplements in the near future are increased use of snack-based meal replacements and demand for higher product traceability and authenticity.
Global Protein Bar Market is segmented protein content into Low Protein, Medium Protein, and High Protein.The greater market share in 2019 was accounted by the Medium protein segment as it has become an essential part of life among growing consumers' need. High protein bars are highly favored by athletes, although customers interested in maintaining a balanced protein diet prefer low protein bars. In order to achieve success in the arena, athletes are in constant need of more energy and muscles. For athletes, sports nutrition bars are tailor-made. As these bars are compact and ready to be eaten when they are busy on the field, they are ready. These bars are protein-rich and low in carbohydrate content. The increasing demand for protein bars among sports athletes is therefore expected to drive growth.
Global Protein Bar Market is segmented by Distribution Channel into Supermarket/Hypermarket, Traditional Grocery Stores, Online Retailing and Others.Based on the distribution channel, specialty stores and the modern trade segment have a revenue share of 38.6% in 2018 It is proposed that more than half the protein bar market between them and protein bar firms take this into account when designing their distribution strategies. The modern trade segment is anticipated to record a robust CAGR of more than 7.5% over the forecast period.In the protein bar market, online stores are still a comparative niche, especially when compared to modern trade and specialty store distribution channels. However, as a result of lower smartphone prices and the widely accessible 4G LTE infrastructure, better Internet infrastructure in emerging economies could allow consumers opt for online shopping portals.
Protein is an essential factor that encourages improvement in fitness. Consumers are therefore preferring to keep fit and safe with weight loss and energy goods, such as protein bars. Protein bars are gaining popularity among health-conscious customers due to their high levels of nutrition. In addition, the ideal protein balance required for a balanced lifestyle can be given by these nutritious items. Moreover, it is expected that supplementing meals with bars would improve the intake of protein without adding extra calories or carbohydrates. Such exercise habits are expected to increase the demand for protein bars since they play a major role in supplying vital nutrients and proteins, increasing energy levels and increasing muscle mass.
One of the main factors driving developments in the food & beverage industry is the rapidly shifting customer tastes. Current trends indicate that the market for nutrition bars is expected to rise at an incredible pace in the coming years due to the steady increase in the number of health-conscious people around the world, along with the increasing awareness of the benefits of nutrition bars. In addition, over the past decade, a significant number of players have steadily joined the global market for nutrition bars because of the availability of nutrition bars of various flavors, sizes, and nutritional quality through different distribution channels. Another aspect that has played an imperative role in the popularity quotient of nutrition bars in recent years is the digital boom, as brands continue to advertise their goods through online distribution platforms, including social media, newsletters and email marketing
Factors such as the increasing middle-class population and the penetration of organized retail are expected in the coming years to fuel the market for protein supplements. In Australia, however, the Therapeutic Goods Administration has recommended that supplements be reclassified as therapeutic goods or medicines from 2020 onwards. This development is expected to hamper the country's current growth, which, in turn, is expected to adversely affect the growth of the regional market.
Global Protein Bar Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Global Protein Bar Marketing North America held the largest market share of 62.1% % in the year 2018and is projected to grow at a CAGR of 3.16% and the regional market is projected to exhibit a substantial CAGR during the forecast period. The US is one of the region's leading markets, accounting for the largest market share expected during the review period. Due to an emphasis on healthy eating habits, there is a growing demand for high-protein-based snacks among health-conscious consumers, which is driving the growth of the US protein bar market. Asia-Pacific, however, due to the growing number of health clubs and increasing knowledge of protein bars, is expected to rise at the highest CAGR over the forecast era. Rising health awareness is leading market players to concentrate on R&D in the European market to introduce balanced meal replacement bars with high protein content.
Global Protein Bar market, which is highly competitive, consists of several major players such as Unilever PLC (UK), Nestlé S.A. (Switzerland), Campbell Soup Company hold a substantial market share in the Global Protein Bar market. Other players analyzed in this report are Ajinomoto Co., Inc. (Japan), Nissin Foods Co., Ltd (Hong Kong), ITC Limited (India), Capital Foods Limited (India), Tat Hui Foods Pte. Ltd. (Singapore), Acecook Vietnam Joint Stock Company (Vietnam), and PT Indofood Sukses Makmur Tbk (Indonesia)among others.
Recently, various developments have been taking place in the market. For instance,In 2017, Prinsen Food Group B.V. acquired a German company, Gustav Berning, one of the largest producers of high quality (protein) food bars in Europe. Both companies have their own R&D facilities and large-scale production facilities for the expansion of the Active Nutrition product range.
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