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Energy Bars Market size was estimated at $645.2 million in 2020, projected to grow at a CAGR of 6.4% during the forecast period 2021-2026.
HYDERABAD, TELANGANA, INDIA, September 22, 2022 /EINPresswire.com / -- Energy Bars Market size was estimated at $645.2 million in 2020, projected to grow at a CAGR of 6.4% during the forecast period 2021-2026. The Energy Bar Industry is being propelled forward by rising health consciousness and the adoption of good eating habits. Energy bars are a healthier alternative to healthy bars since they are made out of natural ingredients such as cereals and other functional energy-based items that assist the body get more energy quickly. They're high in carbohydrates, protein, fiber, low in sugars, and saturated fat, and they have a wide variety of calories to keep going. Furthermore, energy bars aid in weight reduction, digestion, mental refreshment, and the revitalization of energy supply in the body.
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This IndustryARC report on the Energy Bars market highlights the following areas -
1. Demand for convenience food is expanding at a faster rate, owing to increased awareness of nutritious meals, changes in eating patterns and existing nutritional habits, and a desire to explore new products.
2. The growth of the cereal bar market is projected to be supported by a rising number of new product launches with varied flavors, cereal, high fiber content, and more dried fruits.
3. For instance, In July 2019, Mondelez Perfect Snacks has been acquired by z International, which has a controlling stake in the firm. Among the snack products offered by Perfect Snacks are the 'Perfect Bar,' 'The Original Refrigerated Protein Bar,' and 'nut-butter based protein bars.' Mondelez is anticipated to grow as a result of this acquisition.
4. Kellogg India, for example, planned to expand its line with new Indianized goods adapted to local preferences in April 2021. In addition to breakfast, Kellogg India is now concentrating on the 'in-between meal' market. It has lately introduced the K Energy bars to enter this industry.
5. High production costs arising from fluctuating raw material prices and high sugar content, on the other hand, are expected to stifle market expansion.
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1. The Energy Bar market is divided into organic and conventional categories based on type. Organic energy bars accounted for the biggest proportion of the global energy bar market in 2020, owing to customer preference for healthy, organic snacks.
2. Based on Geography, in 2020, the North American Energy Bars Market accounted for 43 percent of total revenue. The growing demand for nutrition-rich items among consumers is largely to blame for North America's leading position in the Energy Bars market. In addition, growing consumer interest in health, fitness, and wellbeing, as well as increased demand for sports nutrition, will propel the energy bar market in this sector.
3. The Energy Bar market is divided into Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Specialty Stores, and Others. Owing to the extensive availability of items, a big consumer base may readily get them, the Supermarkets/Hypermarkets sector has accounted for the greatest revenue market share in 2020.
The top 5 players in the Energy Bars industry are:
1. Nestlé SA
2. General Mills, Inc
3. Atkins Nutritionals
4. Kellogg Company
5. Quaker Oats Co
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