(MENAFN- EIN Presswire) Protein Bar Market - PMI
The report“Protein Bar Market, By Product, By Distribution Channel - Trends, Analysis and Forecast till 2030''
COVINA, CALIFORNIA, UNITED STATES, March 24, 2023/einpresswire.com / -- According to the latest research study, the demand of protein bar market accounted for US$ 1.30 billion in 2020 and is estimated to be US$ 2.45 billion by 2030 and is anticipated to register a CAGR of 6.6%.
The protein bar market is a rapidly growing industry driven by the increasing demand for convenient and healthy snacks. Protein bars are a popular snack option among fitness enthusiasts, athletes, and health-conscious individuals, as they provide a quick and convenient source of protein, fiber, and other nutrients. The market is highly competitive, with a wide range of players offering various flavors, ingredients, and packaging options. The demand for protein bars is expected to continue to grow due to factors such as increasing health awareness, busy lifestyles, and the rising popularity of fitness and wellness trends. However, the market also faces challenges such as the high cost of ingredients, the threat of substitutes, and the need for continuous innovation to meet changing consumer preferences. Overall, the protein bar market is a promising sector with significant growth potential in the years ahead.
Report Metrics:
Report Attribute - Details
Market Size - US$ 1.30 billion
CAGR – 6.6%
Base Year - 2020
Forecast Period – 2020 - 2030
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Key Highlights:
.In July 2020, Nestlé launched a new range of its YES! snack bars, with each bar containing 10 grams of plant protein from a delicious natural combination of nuts and peas.
.In October 2021, OZiva launches Superfood Kids range to bridge the gap of clean nutrition for growing children.
Analyst View:
Protein bar market is growing as people become more aware of ailments associated by protein deficiency and as people become more health concerned. Another factor helping the global market's growth is the availability of protein bars with lower allergy and gluten-free contents. Protein bars have an important function in providing critical minerals and protein, enhancing muscle growth, and increasing energy levels, as seen by rising fitness trends among both men and women. Nonetheless, improvements in the flavour of protein bars have the potential to greatly expand the market. This could result in prospective revenue opportunities for the worldwide market's target players.
Key Market Insights from the report:
Protein Bar market accounted for US$ 1.30 billion in 2020 and is estimated to be US$ 2.45 billion by 2030 and is anticipated to register a CAGR of 6.6%. Global Protein Bar market is segmented into product, distribution channel and region.
.Based on Product, the Global Protein Bar Market is segmented into Gluten-free Protein Bars, Vegetarian Protein Bars, Sports Nutrition Bars, and Others.
.Based on Distribution Channel, the Global Protein Bar Market is segmented into Supermarket/Hypermarket, Convenience Store, Specialist Retailers, Online Stores, and Other Distribution Channels.
.By Region, the Global Protein Bar Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Competitive Analysis:
The key players in the global Protein Bar market includes PepsiCo, Inc., The Kellogg Company, Nature's Bounty Co., Quest Nutrition LLC, Kind LLC, General Mills Inc., Clif Bar & Company, Muscle Pharm, Caveman Foods LLC, and Abbott Laboratories
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Drivers and Restrains of Protein Bar Market:
For companies and organisations looking to comprehend their clients, rivals, and the larger market, market research is a crucial instrument. Nonetheless, the market research sector is vulnerable to a variety of factors and restraints that can have an impact on its growth and development, just like any other business.
Drivers:
.Increasing Health Awareness: With the growing awareness of the benefits of a healthy and active lifestyle, consumers are seeking out convenient and nutritious snack options, including protein bars.
.Busy Lifestyles: The busy and hectic lifestyles of consumers have increased the demand for on-the-go snacks, such as protein bars, which are easy to consume and provide a quick source of energy.
.Growing Fitness and Wellness Industry: The increasing popularity of fitness and wellness trends, along with the rise of health-conscious consumers, is driving the demand for protein bars as a healthy snack option.
.Innovation and Product Development: Protein bar manufacturers are constantly innovating and developing new flavors and ingredients to meet the changing preferences of consumers and stay ahead of the competition.
.E-commerce and Social Media: The rise of e-commerce platforms and social media marketing has made it easier for protein bar manufacturers to reach a wider audience and increase sales.
Restrains:
.High Cost of Ingredients: The cost of high-quality ingredients, such as protein sources and natural sweeteners, can make it difficult for protein bar manufacturers to produce affordable products, which can limit sales.
.Competition: The protein bar market is highly competitive, with numerous players offering similar products, which can put pressure on pricing and margins.
.Health Concerns: Some consumers may have concerns about the high sugar and calorie content of some protein bars, which can limit sales and result in negative publicity.
.Limited Shelf Life: Protein bars have a limited shelf life compared to other snack options, which can result in product waste and reduced profitability.
.Regulatory Issues: The protein bar market is subject to regulations governing food safety and labeling, which can increase compliance costs and limit the marketing claims that manufacturers can make about their products.
Key Reasons to Purchase:
1.Understanding Market Trends: The report can provide insights into the latest trends in the protein bar market, including consumer preferences, new product launches, and emerging markets.
2.Identifying Opportunities: The report can help businesses identify potential growth opportunities and market niches that they can tap into, such as new product formulations or target markets.
3.Strategic Planning: The insights provided in the report can help businesses develop effective strategies and make informed decisions about marketing, product development, and investment.
4.Competitive Analysis: The report can provide a comprehensive analysis of the competitive landscape, including the strengths and weaknesses of key players in the market.
5.Market Size and Forecast: The report can provide information on the size and expected growth of the protein bar market, helping businesses to plan their operations and investments accordingly.
6.Regulatory Compliance: The report can provide information on the latest regulations and guidelines governing the protein bar market, helping businesses to stay compliant and avoid potential legal issues.
7.Investor Confidence: For investors, the report can provide a detailed analysis of the market, helping them to make informed investment decisions and gain confidence in their investments.
For people who want to learn more about a topic, industry, or market and who appreciate the knowledge and expertise offered by a thorough, well-researched paper, purchasing a report may generally be a reasonable investment.
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